Cattle Crush Spread

Rich Moran                                                                                         7/9/2026

   (Feb’26 Live Cattle x 2) - Aug’25 Feeder Cattle - SEP’25 Corn

                             (LEG26 x 2) - GFQ25 – ZCU25

With Live Cattle and Feeder Cattle making 52-week highs today while Corn is making a 52-week low today, I thought it was a good time to see what is going on with the Cattle Crush Spread. We will be using 2(two) Feb’26 Live Cattle, minus 1(one)Aug’25 Feeder Cattle minus 1(one) Sep’25 Corn or (LEG26 x 2) - GFQ25 – ZCU25.  For our purposes, if we are buying or selling the front contract (LEG26), that is what we are doing to the spread.  In other words, if we are selling Feb’26 Cattle (LEG26), we will be selling the Crush.

If you look at this crush, it looks like it has been on an uptrend for the last couple months.  That being said, if you look at a monthly chart going back as far as late 2006 (please see chart above), it has been to these levels through-out the years, but always seems to lose steam right above here.

Today, the crush made a new 14-day and 52-week high at -282.47.  It settled below that at -285.68.  This is a hard short-term trend to trade against, however, the long-term levels are hard to ignore as well.  I suggest we keep an eye on the crush and if we see the short-term trend start to turn negative, or if we see any sell signals, there might be a great opportunity here. 

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Rich Moran

Senior Commodities Broker

RMoran@walshtrading.co

Direct : (312)985-0298

Cell : (773)502-5321

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