3 things to watch

Added: 2026-05-28

[00:00:01]This is Carl with the three things I'm watching for Friday, May the 22nd. We almost made it, folks. Hang in there.

[00:00:09]Uh I want to start off feeder cattle.

[00:00:11]Yesterday, limit losses 925 on the board. Uh looking at today, we're going to have expanded limits in both the fats and feeders. Feeder cattle 1375, 1075 on the live cattle. Um uh several factors led to that decline.

[00:00:30]Uh the biggest one in my opinion, demand demand forecasts.

[00:00:35]Um for one thing, we don't have any feeder sales next week. So, uh that's going to take away a lot of sales will be closed next week.

[00:00:44]Memorial Day closes and down in the big Oklahoma City market will shut down, reported anyway. And a few others. And then just, you know, some of this profit taking. We just saw a lot of profit taking uh and concerns about demand. Feeder demand. Uh looking at pasture conditions that are pretty poor, high-priced feed grains. And then you got live cattle that are sitting here and we're a little bit questionable on our our consumer consumption. And it just kind of snowballed and throwing a few other factors and then just it was everybody out the door last one out to shut the lights off.

[00:01:20]Uh we'll see what happens today. I do not foresee uh limit moves today ahead of a three-day weekend, but uh anything can happen. This is also a headline-driven market. Remember that.

[00:01:33]Uh second thing I want to talk about here, uh our corn demand.

[00:01:38]Um you know, we had a lot of naysayers when we were selling a lot of corn earlier in the year saying that we were front-loaded and this and that and whatnot. And yesterday, we come in with 2.125 million metric tons being sold, a 17-week high.

[00:01:52]Total corn commitments now at 79.9 million metric tons, just shy of the 83.3 million metric tons forecast for the year. My opinion, yes, corn demand will be increased in future WASDE reports on old crop. Now, we got to look at new crop and guess what? We're getting to pretty good start to the selling season out there. Uh you start to look at some yield estimates coming in a little bit lower, little little little less old crop carry-in, lower production and guess what? All of a sudden that new crop carryout number starting to tighten on corn. Keep an eye on that one.

[00:02:27]Uh and today, uh it's the Friday before Memorial Day. A lot of traders checked out yesterday. Don't blame them. Pretty good uh pretty light news day today. I expect uh volume to be pretty low, but we do have some uh reports coming out today that will uh be interesting watch.

[00:02:46]Only two really in the egg sector coming after the close. We get the cattle on feed and the cold storage reports. So, we'll get those out of the way. Um won't see much reaction in in in those two until next Tuesday. Uh as well as the consumer sentiment report comes out. Now, that's going to be an economic data uh and we're already hearing talks of higher interest rates and uh few more uh concerns on the economy and this morning mortgage rates coming out at 6.1% a 9-week high. Uh we're starting to see a little bit of a turn upwards there.

[00:03:22]Talk of uh the Fed raising interest rates in the next meeting.

[00:03:28]Could be a a very interesting one with a new uh Federal Reserve chairman at the helm.

[00:03:36]Stay tuned to that one for sure.

[00:03:38]Those are the three things I'm watching today.