Midday Movers, Nov 4, 2026 — Daily Commodity Wire

Daily Commodity Wire

Midday Movers · Wed Nov 4

Here's what's moving the markets so far today.

What matters today

USDA confirmed more U.S. screwworm cases. U.S. screwworm cases (USDA APHIS): 54 animal cases confirmed since August 2026, 11 of them confirmed in...
Crude news: Current price of oil as of November 4, 2026
Coming today: USDA announced Class III and IV milk prices, 11:00am CT

Futures prices are off while we set up a licensed price feed. CME Group shows free delayed quotes on its own site. CME Group quotes. Futures settlements are the official closing prices as printed by USDA (Market News reports for grains and cattle; the Risk Management Agency for dairy).

These are Tuesday's official closes (Nov 3), the latest USDA has printed. USDA prints today's closes about 5 PM CT, and we'll send them to you this evening. Energy, metals and cash prices show their own dates.

Grains

Corn

4.42½ /bu Tue close: ▼ 5¾¢ (-1.28%)
Dec Corn · official close Tue Nov 3

Soybeans

12.14 /bu Tue close: ▼ 2¾¢ (-0.23%)
Jan Beans · official close Tue Nov 3

Wheat

5.99¾ /bu Tue close: ▼ 6¾¢ (-1.11%)
Dec Wheat · official close Tue Nov 3

KC Wheat

6.36¼ /bu Tue close: ▼ 9¾¢ (-1.51%)
Dec KC Wheat · official close Tue Nov 3

Livestock

Live Cattle

218.15 /cwt Tue close: ▼ $1.55 (-0.71%)
Dec Cattle · official close Tue Nov 3

Cash: fed steers (live): $223.73/cwt (Nov 2), down $3.35 from last week, $7.13 below a year ago, $46.37 above the 5-year average.

Futures-based (USDA LRP, Nov 3): Feb $221.48 (-$12.16 wk), Jun $226.87 (-$11.51 wk), Aug $221.71 (-$11.20 wk).

Feeder Cattle

328.375 /cwt Tue close: ▼ $4.30 (-1.29%)
Jan Feeders · official close Tue Nov 3

Cash: Feeder steers, 700-800 lb (Oklahoma City): $351.90/cwt (Nov 2), down $10.74 from last week, $2.71 above a year ago.

Futures-based (USDA LRP, Nov 3): Mar $323.59 (-$19.74 wk), May $321.83 (-$20.27 wk), Aug $320.61 (-$19.44 wk), Sep $319.03 (-$18.45 wk).

In the news today: Live Cattle futures slide as Lean Hogs test $60 resistance.

Lean Hogs

$62.37 /cwt carcass Tue cash ▼ $1.46
USDA cash hogs · Nov 3

Futures-based (USDA LRP, Nov 3): Feb $62.70 (-$1.40 wk), May $73.93 (+$1.10 wk), Jun $81.47 (+$2.21 wk).

In the news today: Live Cattle futures slide as Lean Hogs test $60 resistance.

Dairy

Class III Milk

16.92 /cwt Tue close: ▼ $0.05 (-0.29%)
Jan Class III · official close Tue Nov 3

USDA: Class III milk price (announced): $16.04/cwt (September 2026), down $0.60 from the month before, $1.55 below a year ago, $3.09 below the 5-year average.

Class IV Milk

20.27 /cwt Tue close: ▲ $0.27 (+1.35%)
Jan Class IV · official close Tue Nov 3

USDA: Class IV milk price (announced): $18.94/cwt (September 2026), up $1.58 from the month before, $2.77 above a year ago, $0.77 below the 5-year average.

Cheese

1.574 /lb Tue close: ▼ $0.008 (-0.51%)
Jan Cheese · official close Tue Nov 3

Cash: Cheese, 40-lb blocks (CME spot): $1.5775/lb (Nov 3), down 2.25¢ from Monday.

Butter

137.50¢ /lb Tue close: ▼ 3.8¢ (-2.69%)
Jan Butter · official close Tue Nov 3

Cash: Butter, Grade AA (CME spot): $1.2975/lb (Nov 3), down 3.5¢ from Monday.

Energy

Crude Oil

$103.37 /bbl Tue spot ▼ $1.88
EIA spot · Oct 27

In the news today: Current price of oil as of November 4, 2026.

Heating Oil

$4.687 /gal Tue spot ▼ $0.146
EIA spot · Oct 27

Natural Gas

$2.76 /MMBtu Tue spot ▲ $0.24
EIA spot · Oct 27

Metals

Gold

$4,105.00 /troy oz vs month before ▼ $214.00
World Bank monthly avg · October 2026

In the news today: Gold, silver rally as US midterm results weigh on dollar; gold tops $4,023, silver approaches $52.

Silver

$57.00 /troy oz vs month before ▼ $7.60
World Bank monthly avg · October 2026

Copper

$14,508 /metric ton vs month before ▲ $34
World Bank monthly avg · October 2026

USDA cash cattle and hog prices

Choice boxed beef cutout: $365.23/cwt (Nov 3), up $0.19 from the last report, $12.35 below a year ago, $55.65 above the 5-year average.
Select boxed beef cutout: $358.37/cwt (Nov 3), up $3.43 from the last report, $2.88 below a year ago, $73.84 above the 5-year average.
Cash hogs (negotiated, carcass): $62.37/cwt (Nov 3), down $1.46 from the last report, $27.14 below a year ago, $16.59 below the 5-year average.
Pork cutout: $72.43/cwt (Nov 3), up $0.15 from the last report, $26.74 below a year ago, $22.78 below the 5-year average.
Choice-Select spread: $6.86.

Cash prices vs a year ago and the 5-year average

Livestock price insurance (USDA LRP, prices for Nov 3)

Feeder steers 600-1,000 lb, ending Feb 2: 95% coverage at $311.24/cwt costs you about $5.14/cwt after the USDA subsidy (up $1.56 from last week; coverage price down $0.83 from a year ago).
Fed cattle, ending Feb 2: 95% coverage at $210.40/cwt costs you about $2.87/cwt after the USDA subsidy (up $0.62 from last week; coverage price down $5.22 from a year ago).
Hogs, ending Feb 2: 95% coverage at $59.57/cwt costs you about $1.47/cwt after the USDA subsidy (even with last week; coverage price down $17.16 from a year ago).
USDA confirmed more U.S. screwworm cases. U.S. screwworm cases (USDA APHIS): 54 animal cases confirmed since August 2026, 11 of them confirmed in November; 42 active now.

LRP calculator and screwworm border status

2-minute lesson: Cash forward contracts

A forward contract sets the full price (futures + basis) today for grain you deliver later. Price is locked both ways, and you must deliver the bushels.

Read the lesson · All lessons

On deck

Today: USDA announced Class III and IV milk prices, 11:00am CT
Today: USDA dairy product prices (NDPSR), 11:00am CT
Today: EIA spot prices update (crude, diesel, natural gas), 4:00pm CT

Informational only — not investment, trading or financial advice.

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