Cattle Limits Expand as Grain Traders Eye Friday’s USDA Reports

Traders now focus on Friday’s USDA Crop Production and WASDE reports following Monday’s cattle surge.

Overview

Live cattle hit the $7.25 limit-up on Monday and exchanges set expanded limits for Tuesday ($10.75 for live, $13.75 for feeders), with feeders extending gains as front-month live cattle slipped.
USDA Export Inspections showed 1.425 million tonnes of corn shipped for the week ending Nov. 6, bringing marketing‑year corn exports to 13.725 MMT, about 65.7% above last year.
Soybean shipments were 1.089 million tonnes for the week, with marketing‑year exports at 8.889 MMT, roughly 42% below a year ago, and recent destination lists did not include China.
Wheat inspections totaled 290,513 tonnes for the week, and marketing‑year shipments reached 12.115 MMT, up about 19.2% year over year.
The government shutdown continues to pause some USDA products such as the AWP, the Nov. 14 Crop Production and WASDE release is scheduled for 12 p.m. ET, and President Trump has asked the DOJ to investigate meatpackers.