Grain and lean hog (HEG26) futures markets entered 2006 with a weaker tone, while the live (LEG26) and feeder cattle (GFH26) futures markets hit the accelerator.
Technical selling pressure was featured in the corn (ZCH26) and soybean (ZSH26) markets, while the winter wheat (ZWH26) (KEH26) futures bulls worked to stabilize their markets. Meantime, live and feeder cattle futures prices jumped on reports that a case of New World Screwworm had been detected in Mexico late last week, the second case in two days. The discovery of new cases likely further pushes back any opening of the U.S. southern border to feeder cattle imports from Mexico.
