Feeder Cattle Futures Surge to Three‑Month High After USDA Boosts Corn Harvest Forecast

Feeder cattle futures on the CME rose to a three‑month peak on Friday after the U.S. Department of Agriculture unexpectedly lifted its 2026 corn harvest outlook, sending corn prices sharply lower. The USDA’s monthly crop report said farmers will bring in the second‑largest corn crop on record despite a wet summer, a surprise that knocked corn futures down by the full 30‑cent daily limit. Lower corn prices cut feed costs and lifted feeder cattle, which finished at 341.95 cents per pound, up 7.075 cents or 2.1 %. The contract stayed above its 100‑day moving average but met resistance at the 200‑day line. Live cattle followed, with the December contract gaining 3.5 cents to 227.05 cents per pound, breaking the 100‑day resistance. Cash‑market beef prices have been soft this week, and the USDA quoted boxed beef at $373.35 per hundredweight, $1.50 lower than the day before. Ross Baldwin, broker at John Stewart and Associates, said the feeder market “is loving this” and called the deferred‑month outlook “as bullish as you can imagine.” Meanwhile, lean hog futures slipped for the fourth day as weak hog and pork prices kept pressure on the market; the most‑active December hog contract fell to a low of 67.325 cents and settled at 67.825 cents. ## Context The rally shows how quickly feed‑grain forecasts can move livestock prices, because corn is the main feed ingredient for cattle and hogs.