U.S. Farm Commodities End May on Caution as Cattle, Hogs Slip and Grains Wait on USDA Data

Overview

• Live cattle futures closed sharply lower on Thursday after USDA estimated daily federally inspected cattle slaughter at about 110,000 head and the weekly total fell roughly 35,000 head below last year’s post‑Memorial Day week.
• Lean hog contracts traded softer toward the end of the week with national base hog prices in the low‑to‑mid $90s and USDA‑reported hog slaughter weekly totals down about 25,000 head year‑over‑year for the holiday week.
• Cotton futures eased on Friday even though NASS reported U.S. planting at 53% as of May 24, which matches the five‑year average while several large producing states lag normal progress.
• Corn and wheat slipped on Friday as traders awaited the delayed USDA Export Sales release and monitored ethanol production data that signaled a small week‑to‑week drop in output, while soybeans edged higher with nearby contracts approaching $12 per bushel.
• APHIS reported 2,072 active New World Screwworm cases in Mexico, a cross‑border biosecurity concern that, combined with seasonal holiday throughput reductions, could further tighten feeder flows and influence cash cattle markets as traders watch upcoming USDA reports for demand direction.