Monthly Archives: February 2024

Date: February 28, 2024 Another fairly quiet day in the livestock sector during yesterday’s session. Cattle started the day off mixed with not much movement on either side of unchanged, and at one point during the morning fats and feeders were all higher in the face of a higher corn market. But as the day went on, they struggled to find a sense of direction and live cattle finished with slight losses and feeders ended lower in just two of the nearby contracts and a little bit higher in the rest. Aside from the April live cattle contract, Feb through the deep deferreds into the April 25 contract did make it up to new recent highs yesterday. May feeders did the same by just one…

Date: February 14, 2024 Cattle futures pulled lower on Tuesday after hitting or near new recent highs again on Monday. Only very light volume cash fed cattle trade reported in the North at $180 live. Last week’s trading ranged from $180 to $182 live and $285 to $289 dressed. Beef prices were lower and corn steady to higher which led to the cautious trading for cattle futures. Joplin Regional Stockyards Feeder Cattle - Carthage, MO Livestock Weighted Average Report for 2/12/2024 - Final This Week: 13,125 Last Week: 15,578 Last Year: 9,452 Compared to last week feeder steers sold 4.00-9.00 higher. Feeder heifers sold 4.00-12.00 higher. Supply was heavy with very good demand. 7 weight index steers averaged $244 to $253 and 8 weights averaged…

Date: February 5, 2024 Livestock futures last Friday finished mixed on fairly quiet trading but week over week gains were locked in earlier from the friendly Cattle Inventory report. Live cattle and feeders continue to make new recent highs led by feeders as most contracts now eclipsing the 62% retracement levels from the sharp losses earlier this fall. Cash fed cattle trade last week was $2 to $3 higher than the week previous with trade in TX and KS done at $178 to $179 live and trade in the North from $176 to $179 live and $280 dressed. The CFTC Commitment of Traders report for the week ending January 30th showed funds buying 12,644 live cattle contracts and net long 30,016 contracts while buying 2,644…