Archive · 10 Oct 2026
Corn Price Plunge Sends Feeder Cattle Futures to Three-Month High
The U.S. government predicted that farmers will harvest a very large corn crop in 2026.
That news made corn prices drop sharply.
Cattle farmers use corn as feed, so cheaper corn can lower their costs.
As a result, feeder cattle prices rose to their highest level in three months.
Live cattle prices also went up.
They had extra support from traders buying after prices passed certain chart levels.
Cattle prices had faced pressure earlier in the week from slow cash trading and falling wholesale beef prices.
Meanwhile, hog prices fell for a fourth day as cash hog and pork prices remained weak.
Feeder cattle futures reached a three-month high after the USDA raised its 2026 U.S. corn harvest outlook.
Corn futures fell by as much as the daily 30-cent-per-bushel limit after the report.
November CME feeder cattle settled up 2.1% at 341.950 cents per pound.
December live cattle rose 1.6% to 227.050 cents per pound, supported partly by technical buying.
December lean hogs fell for a fourth straight session, settling at 67.825 cents per pound after reaching a contract low.
- Who
- Traders in CME feeder cattle, live cattle and lean hog futures; the USDA issued the crop report.
- What
- Feeder cattle futures rose to a three-month peak, live cattle reached a two-month peak, and lean hog futures declined.
- When
- Friday, October 9; the year is not specified in the article.
- Where
- Chicago Mercantile Exchange markets; the USDA report concerned the U.S. corn harvest.
- Why
- The USDA raised its 2026 U.S. corn harvest outlook, driving corn prices lower and raising expectations of reduced cattle feed costs.
Bullish cattle factors
Bearish market pressures
Feed costs and cattle futures
Bullish cattle factors
The larger corn harvest outlook sent corn prices sharply lower, raising expectations of lower feed costs and helping feeder cattle futures rally.
Bearish market pressures
Cattle futures had faced pressure earlier in the week from sluggish cash market trading and declining wholesale beef prices.
Hog market
Bullish cattle factors
No bullish factor for lean hogs was cited in the report.
Bearish market pressures
Lean hog futures fell for a fourth consecutive session amid weak cash hog and pork prices.
- Feeder cattle contract
- November feeder cattle settled at 341.950 cents per pound, up 7.075 cents or 2.1%.
- Live cattle contract
- December live cattle settled at 227.050 cents per pound, up 3.500 cents or 1.6%.
- Lean hog contract
- December lean hogs settled at 67.825 cents per pound, down 0.775 cent.
- Hog contract low
- Most-active December hogs reached a contract low of 67.325 cents per pound.
- Corn futures
- Prices fell by as much as the daily 30-cent-per-bushel trading limit.
- USDA corn outlook
- The USDA forecast the second-largest U.S. corn crop on record for 2026.
- Choice boxed beef
- The USDA quoted the cutout at $373.35 per hundredweight, down $1.50 from the previous day.