Author: ploewen

Big up day for the cattle complex yesterday. With cash feedlot trade in an upswing, the futures market had a lot of catching up to do given the big discount in futures relative to cash. Through yesterday’s market close, prices from Nebraska to Texas ranged from $191-$195. December live cattle started the week with an opening price of $187.40, but Tuesday and then yesterday’s sharply higher price action quickly erased the deficit. Live cattle finished yesterday’s session up more than $2 on the front two months and $1+ on the rest. Feeders were up just shy of $2 across the board. Interesting twist to the cash feedlot action where packers came into Monday bidding steady with last week’s $191 tops in Texas and Kansas, which…

Date: October 9, 2024 Livestock futures settled in the green on Tuesday with triple digit gains for feeders and fresh new recent highs for both feeders and fats. October feeders closing on the 50% retracement level at $252.25 when using the full range from the contract high at $275.17 back in January to the contract low at $229.35 from mid-August. October lean hogs expire on Monday. Looking at the December contract currently trading well above last winter’s seasonal low suggests we may not see quite the falloff later this year, but I would still expect a little downturn this fall. No cash feedlot trade yet this week with smaller showlists in TX but larger in KS and NE as packers entered the week with smaller…

Date: September 30, 2024 Livestock futures were mixed last Friday but again all higher week over week. New recent highs were hit for both fats and feeders on Friday. Support coming from higher cash feedlot trade again last week. Cash fed cattle trade in Texas and Kansas mostly at $185 live, $2 to $3 higher than the week previous. Trade in the North ranging from $185 to $187 live and $292 to $294 dressed, $2 to $4 higher than a week ago. Weekly closes for livestock futures and meats… October Live Cattle +$1.27, December +$1.27, September Feeder Cattle +$.57, October +$3.17, October Lean Hogs +$3.60, December +$2.07. Choice Boxed Beef -$3.50 at $296.69 and Pork Carcass Cutout +$1.60 at $95.75. Oklahoma Weekly Cattle Auction Summary…

Date: September 25, 2024 Livestock and grain futures all opened higher and held gains until midday. In the end, the front months for cattle and hog futures settled slightly lower with moderate gains for all deferred contracts. Only very light volume cash feedlot trade so far this week in the North at $184.50 live. A full recap of last week’s trade showed feedlots selling 86,956 head of negotiated cash fat cattle with nearly 90% for nearby delivery. Full range traded from $177 to $190 live, weighted average at $184.13 which is nearly $2 higher than the week previous and $286 to $303 dressed, weighted average $290.66 just $.36 higher than the week previous. Quarterly Hogs and Pigs report coming out Thursday with expectations for all…

Date: September 18, 2024 Livestock futures held triple digit gains on Tuesday as grains were steady to lower. Only light cash fed cattle trade so far this week in the North at $180 live with asking prices in the South starting at $184 to $185. A recap of last week’s trade showed feedlots selling 61,496 head of negotiated cash fat cattle, over 51,000 for nearby delivery. The full range of prices last week from $175 to $188.50 live, weighted average $182.32, $1 higher than the week previous and $285 to $300 dressed, weighted average $290.30, $4 higher than the week previous. Oklahoma National Stockyards Feeder Cattle - Oklahoma City, OK Livestock Weighted Average Report for 9/16/2024 - Final Total Receipts: 6,742 Last Week: 10,154 Last…

Date: August 26, 2024 Livestock futures all higher on Tuesday except the soon to expire August feeders with the cash index still a couple dollars discount to futures. No cash feedlot trade yet this week and still no bids or offers but with higher futures hopefully we can hold steady or even trade a couple dollars higher this week. Last week’s full recap of cash trade totaled 54,695 head ranging from $181 to $191 live, weighted average at $185.36, and $285 to $307 dressed, weighted average at $294.03. Lean hogs into new recent highs again on Tuesday supported by higher pork prices. Oklahoma National Stockyards Feeder Cattle - Oklahoma City, OK Livestock Weighted Average Report for 8/26/2024 - Final Total Receipts: 5,908 Last Week: 4,174…

Date: August 26, 2024 August live cattle holding steady as we near expiration but October down into new 4-month lows and deferred contracts into new contract lows last week. August feeders also steady for the week but into new lows for the year midweek as September forward contracts all made new contract lows. Lean hogs on the other hand rallied last week and hit new recent highs. Cash fed cattle trade in Texas and Kansas done mostly at $183 with some at $184 which is $1-$2 lower than the week previous with trade in Nebraska $5 lower ranging from $184 to $190 live and dressed trade from $293 to $295. USDA cattle on feed report after the close on Friday was neutral to bearish with…

Matt Hines joined Aaron Harries and Justin Gilpin from Kansas Wheat recently on their podcast "Wheat's On Your Mind" https://kswheat.com/podcast

Date: August 21, 2024 Cattle futures crashed triple digits lower on Tuesday led by the ongoing economic worries yet outside markets didn’t actually settle significantly lower. This was enough to spur an early round of lower cash feedlot trade. Cash fed cattle trade reported on Tuesday on light volume at steady to mostly weaker than a week ago from $183 to $188 live and $293 to $295 on a dressed basis. Last week’s trade weighted average at $188.94 live and $298.21 dressed. Oklahoma National Stockyards Feeder Cattle - Oklahoma City, OK Livestock Weighted Average Report for 8/19/2024 - Final Total Receipts: 4,174 Last Week: 5,428 Last Year: 5,259 Compared to last week: Feeder cattle again lightly tested. Feeder steers mostly steady to 2.00 lower, most…

Cattle futures brought two sided trade yesterday as most contracts started the week off by opening lower following another hefty leg downward on Friday. It didn’t take long for both fats and feeders to push to the positive side shortly into the morning but then feeders started to turn back lower and that’s the direction they continued, although they recovered quite a bit by the time the closing bell rang in the afternoon. Live cattle were able to fight the pressure as most contract months remained in the green. August fats continue to trade premium to the rest of the contracts which is somewhat counter seasonal, but negotiated cash trade last week was premium to futures at $185 in TX and KS. With cash being…