Cattle were lower Thursday | Closing Market Minute

Added: 2026-06-02

[00:00:00]Cattle futures were lower Thursday. More on that in just a moment. I'm Brownfield commodity market reporter John Perkins at the closing market minute for Thursday, May 28th.

[00:00:08]Soybeans and corn both did end the session higher, supported by short covering finding support around these price levels. There was periodic support during the session from the mixed trade in crude oil, up for most of the day, but fluctuating throughout the session due to the ongoing uncertainties about the military conflict in Iran. Past that, corn and soybeans are watching late planting and development weather, which looks generally favorable in much of the region. USDA's weekly export sales numbers, delayed by Memorial Day, are going to be out on Friday. Soybeans in particular are going to be watching new crop sales very closely to see if China pops up.

[00:00:41]Wheat ended the session mixed, Chicago mixed, Kansas City and Minneapolis down.

[00:00:45]At this point, any damage to the hard red winter crop in the plains is largely factored in, and the trade's also watching global planting and development weather.

[00:00:53]Live and feeder cattle ended the session lower, pressured by technical selling as they waited for widespread direct cash cattle sales to get underway. Few bids were on the table at 253 on the live basis in Kansas and Texas, but otherwise things were quiet. Also, boxed beef was sharply lower at midday on Thursday.

[00:01:10]And hogs ended the session mixed, mostly higher on spread trade, oversold signals, and the higher midday moving pork. Not a very aggressive day though at the cash hog markets.

[00:01:19]With the closing market minute for Thursday, May 28th, I'm Brownfield commodity market reporter John Perkins.