Cattle Extend New‑Year Rally as Grains Steady and Soybeans Firm on China Buying

Fresh USDA data plus fund positioning shifts set a volatile tone as traders process post‑holiday reports.

Overview

Live and feeder cattle futures added to Monday’s gains, supported by cash trade at $232–233, firmer boxed beef values, and stronger feeder prices at the OKC auction, with last week’s federally inspected slaughter at 474,000 head.
Soybeans held modest Tuesday gains after Reuters cited 10 U.S. cargoes sold to China and USDA confirmed a 336,000 MT sale, even as total commitments of 27.7 MMT trail last year’s pace.
Corn edged higher with export inspections at 1.207 MMT in the week ending Jan. 1 and total commitments at 50.5 MMT, while CFTC data showed managed money flipped to a 23,584‑contract net short as of Dec. 30.
Wheat ticked up after Monday’s rebound despite soft inspections of 183,305 MT for the latest week and a large managed‑money net short in Chicago futures, with traders watching a wetter seven‑day outlook for SRW areas.
Post‑holiday catch‑up reports showed USDA export sales and inspections back on track and CFTC data indicating soy longs were pared, reinforcing cross‑market divergence and near‑term volatility.