Livestock and Grains round up and our actionable playbook for the last trading session in February'26

Livestock Report

Lean Hogs: Lean hog futures declined 25–50 cents on Thursday. USDA's national base hog price was $91.00, down 21 cents: the CME Lean Hog Index rose to $88.71. Export sales for the week ending February 19 were 42,611 MT—second largest this year—with Mexico leading purchases. Shipments totaled 41,092 MT, highest since April 2024. USDA pork carcass cutout value fell to $97.38 per cwt. Hog slaughter for Thursday stood at 493,000 head; weekly total reached 1.951 million, up from last week.

Cattle Report (Feb 27, 2026): Live cattle futures dropped $3–$3.50. Cash trade ranged from $244–$245 live and $383 dressed. Feeder cattle futures fell $4.65–$5.40. CME Feeder Cattle Index was $373.17. APHIS reported 8 new Screwworm cases in Tamaulipas. Beef export sales hit 12,902 MT, a 6-week low, with Japan as top buyer. Shipments were 13,306 MT, slightly below prior week. USDA estimated cattle slaughter at 103,000 head Thursday, weekly total of 427,000—unchanged from last week but down year-over-year.

Grains Sector Commentary (Feb 27, 2026)

Soybeans: Front month soybeans slipped 1–2 cents. National average cash price was $10.84 3/4. Soymeal and soy oil futures showed mixed movement. EPA submitted biofuel mandates for review. Exports for the week were 407,086 MT, led by Egypt. Soybean meal sales totaled 269,590 MT.

Corn: Corn futures rose 1–3 cents late. Cash corn averaged $4.00 1/2. December corn close averaged $4.61, down 9 cents year-over-year. USDA reported a private export sale to Japan of 178,000 MT. Weekly export sales were 682,804 MT, with Mexico as the largest buyer.

Wheat: The wheat market was mixed Thursday: Chicago SRW rose 1–3 cents, KC HRW fell 3–4 cents, MPLS spring wheat dipped up to 4 cents. Export sales were 242,964 MT, a 6-week low. New crop sales set a marketing year high at 107,015 MT. Saudi Arabia tendered for 655,000 MT of wheat.

Playbook for Feb 27, 2026 (ZSK26) (ZMK26) (ZCK26) (ZLK26) (ZWK26) (PAM26) (PLJ26) (HGK26) (GFJ26) (LEJ26) (HOJ26) (RBJ26)