Monthly Archives: June 2024

Date: June 26, 2024 Livestock futures were mixed on Tuesday with cattle futures trading both sides of unchanged and settling mixed while lean hogs continue to make new lows. July lean hogs made a new contract low, taking out the previous contract low that was hit back in May 2023. October live cattle hit a new 8-month high on Tuesday, with just a few days left until expiration, as higher cash trade has been the most supportive factor bringing futures sharply higher the past couple weeks to converge with the cash trade. Higher beef prices of course continue to support the cattle market as well. A recap of last week’s cash fed cattle trade showed feedlots selling 73,368 head, nearly 80% of that for nearby…

Date: June 24, 2024 Livestock futures were mixed this past week with small gains for live cattle and lean hogs but triple digits losses week over week for feeder cattle. As of the close on Friday, only light volume cash feedlot trade had been reported from $193 to $198 live and $310 to $312 on a dressed basis. This is steady to $2 higher with the week previous, matching the top end reported by the end of the week. After the close, volume picked up with live trade in the South from $189 to $191, $3 to $5 higher than the week previous and trade in the North $4 to $6 higher from $198 to $199 live and $310 to $314 dressed. Neutral to bearish…

Date: June 17, 2024 Cattle futures finished out last week triple digits higher while lean hogs were mixed. The June lean hog contract expired and hit yet another recent low losing $18.50 since the April highs. Most cattle contracts gapped higher and never looked back as cash fed cattle trade was again reported higher and beef prices hit new highs for the year. Light volume cash feedlot trade started on Tuesday in NE at $190 live and in TX and KS on Wednesday at $185 live, both areas steady with the week previous. Thursday’s trade picked up in volume at $186 live in the South and shot up $5 in the North to $195 live and $305 dressed. Friday added even more with a few…

Date: June 12, 2024 Livestock futures traded both sides of unchanged on Tuesday but ultimately all finished lower. Both live and feeder cattle futures were able to hit new recent highs with June live cattle testing the May highs. Overall though it was not a great follow through day after Monday’s triple digit rally. No cash feedlot trade yet this week but hopes are for higher money this week as feedlots are current and sales were on the lighter side last week. Beef demand also remains strong with new highs for the year again yesterday. Oklahoma National Stockyards Feeder Cattle - Oklahoma City, OK Livestock Weighted Average Report for 6/10/2024 - Final Total Receipts: 6,584 Last Week: 7,170 Last Year: 10,143 Compared to last week:…

Date: June 5, 2024 Livestock futures were mixed on Tuesday but finished mostly lower throughout with minor losses to both fats and feeders and triple digit losses for nearly every lean hog contract. Cattle futures have spent the past couple trading sessions trading in fairly tight ranges and looking for direction this week. Last week’s cash fed cattle trade was overall $1 to $3 lower with the weighted average reported at $188.83 live and $301.20 on a dressed basis. Only very light volume reported so far this week in the WCB at $190 live. Lean hogs continue to drift lower, breaking nearby support yesterday for a new 5-month low. Oklahoma National Stockyards Feeder Cattle - Oklahoma City, OK Livestock Weighted Average Report for 6/3/2024 -…