On February 17, 2026, the cattle market showed some positive movement. April ’26 Live Cattle climbed 2.17 ½, closing at 242.80. The day’s high reached 244.00, while the one-month high stands at 244.57 ½. The low for today was 242.10, with the one-month low at 232.65. Since mid-January, Live Cattle has gone up by 8.82 1/2, which is nearly 4%. Feeder cattle also saw gains, with March ’26 rising 4.82 1/2 to finish at 370.97 1/2. Its high today was 372.25, compared to the one-month high of 373.60. The one-month low? 354.55. Feeder cattle have advanced by 14.52 ½ since January 16, or more than 4%. Lean Hogs are also up; April ’26 Lean Hogs increased 1.02.5 to settle at 92.30. Their high today hit 93.00, and the one-month high is 99.80—the low was 91.50, with a one-month low of 91.12 and a half. From April 1, 2026, Lean Hog prices could rise over 2.90 or 3%.
Spot market activity post-Friday was notably strong. I’ve heard whispers that Iowa’s spot market is trading at 250.00 today, but I’m holding out for confirmation. There seems to be potential for the cattle market to keep climbing. Notably, the gap for April ’26 Fats ranges from 246.25 to 250.25, which is 4.00 points higher. Today’s Fats settlement is a bit shy of a monthly high, closing at 242.80—1.77 1/2 below the monthly peak and significantly below the contract high. The March ’26 feeder gap opened at 370.60 and, thankfully, settled above that. The higher limit is 376.70, which is 6.10 points above the initial level.
I still think there’s a chance for these gaps to close, with fat and feeder cattle potentially hitting new contract highs. If we manage to get there, we might see a market rebound, but I’m not expecting a correction just yet. Unless something unexpected occurs—and that’s always a wild card—I anticipate prices will keep climbing through June, after which we may need to reassess the landscape.
If you haven’t jumped on the cattle market bandwagon yet, it could be worth considering. There’s still potential for a $50.00 increase in the feeder market based on today’s liquidation values. We’re exploring new transactions, so please reach out if you’re interested.
Now could be a good time to open an account before July approaches. If you have questions, don’t hesitate to contact us.
The grain market had a mixed day, with soybeans closing higher, while corn and wheat fell. May ’26 Soybeans saw a slight rise of 1/4 cent, settling at 1048 3/4. The day’s high was 1053 ¾, against a monthly high of 1156 ¾. Corn, on the other hand, dropped 6 1/4 cents to settle at 435 3/4, with highs and lows tracking between 441 ¾ and 429 1/2. Wheat had a particularly steep decline, dropping 6 cents to close at 542.5, with highs reaching 548 and lows at 518 ¾. Since mid-January, wheat has risen over 13 3/4 cents, reflecting an increase of more than 2 1/2%.
To me, soybean oil still looks promising, although soybean prices seem a bit inflated. The report released by NOPA earlier today was better than expected, which boosted the beans. I suspect there’s a chance for soybeans to break out soon.
The corn market doesn’t seem to be moving much in the near term, and I’m considering selling my July ’26 440 Straddle. Wheat needs to be watched closely, especially after recent developments in Russia and Ukraine that could alter market dynamics. I believe soybean oil presents a good trade opportunity moving forward, as today’s futures approached contract highs.
Looking ahead, I am set to attend the Commodity Classic in San Antonio from February 24 to 28. If you’re around, stop by Booth 5101.
Ultimately, if you have any questions or wish to discuss hedging or trading accounts, please reach out. We are eager to assist you. Stay prepared and have a great night!
