Author: ploewen

Date: July 7, 2025 Livestock futures finished last week mixed, last Thursday of course with all markets close on Friday for Independence Day. Gains last Thursday locked in weekly gains for cattle futures but lean hogs continued to slide lower. Beef and pork prices were under pressure last week. Cash fed cattle trade was fully steady compared to the week previous, although the overall weighted average may be a $2 lower. TX and KS trade reported at $224 to $225 live with trade in the North from $230 to $234 live, mostly $230 to $232, and $368 to $372 on a dressed basis, with most from $368 to $370 Weekly closes for livestock futures and meats… August Live Cattle +$.75, October +$1.07, August Feeder Cattle…

Cattle futures opened up higher to start things off but quickly sunk into red territory aside from front month June live cattle the went off the board. Low and behold cash and futures did converge to where majority of cash trade took place in the Southern Plains last week. Unfortunately, it wasn’t futures that did the leg work to catch up, it was cash cattle trade the was down hard two weeks in a row that got that accomplished. Maybe the live cattle market isn’t as broken as some folks like to claim online. After the crop report was released at 11, and corn showed no friendly signs, that may have opened the door up for feeders to run north of $2 higher into the…

The cattle complex traded on both sides of unchanged yesterday, but finished with live cattle flat to mildly lower on everything and feeders were mixed and quiet at the close. Product prices are still moving higher, but last week’s cash was quite a bit weaker with this week’s cash feedlot action still very much up for grabs as to where it lands. Chart technicals at the moment point only one direction and that’s lower. Of course, we’ve been down that road of bearish techincals several times in recent months with some big reversals off of past highs and some sizable gaps lower also, but to date, every time it breaks it doesn’t last long and then it trades up into new highs again. Quarterly Hog…

Date: June 25, 2025 Livestock futures were mixed on Tuesday, overall market uncertainty the biggest impact yesterday. Beef prices firmed but some light volume cash fed cattle trade was reported in NE at $230 to $233 live, $2 to $7 lower than last week. Asking prices in the South from $228 to $230 live. A full recap of last week’s cash fed cattle trade showed feedlots selling 52,291 head of negotiated cash fat cattle, 67% for nearby delivery. Full price range from $223 to $242 live, weighted average $235.11, and $370 to $382 dressed, weighted average $376.37. Outside markets were mixed on Tuesday as well with mixed equities and sharply lower energies. Crude oil opened Sunday night over $4 higher in response to the U.S.…

Date: June 18, 2025 Back and forth price swings for all markets continued on Tuesday. Equites were back lower and US$ higher. All livestock futures settled lower led by sharply lower feeder cattle. We have wild prices swings now since last Friday for cattle futures. Market fundamentals remain supportive with higher cash trade and beef. Outside market influence continues to provide pressure as Israel and Iran continue attacking each other. Inactive cash feedlot trade so far this week. Asking prices in the South still at $238+ live. A full recap of last week’s cash fed cattle trade showed feedlots selling only 51,944 head of negotiated cash fat cattle, 75% for nearby delivery. Full price range from $227 to $244 live, weighted average $238.15, +1.52 from…

Date: June 16, 2025 Cattle futures were sharply lower last Friday which locked in week over week losses, while lean hogs held gains to end the week. Beef prices were sharply higher last week along with pork prices. Cash feedlot trade was mixed with steady to lower prices paid in the North but steady to higher prices in the South. Live trade in NE moved $2 lower, $240 to $242, with dressed trade steady at $380. KS & TX trade though $233 to $240 live, mostly $235 which matches the top end of price range from the week previous. The biggest pressure on cattle coming from a sharply lower equity markets as Israel hit Iran’s nuclear and military facilities with missiles and drones. Weekly closes…

Date: June 11, 2025 Live cattle finished Tuesday steady to lower while feeders and lean hogs continue to rally. The biggest news of the day centered around an ICE raid in Omaha. It was reported at the Green Valley Foods plant and not the JBS beef plant as first expected. Only light volume cash feedlot trade so far this week in the TX panhandle at $235 live. A full recap of last week’s cash fed cattle trade showed feedlots selling 78,808 head of negotiated cash fat cattle, 83% for nearby delivery. Full price range from $220 to $245 live, weighted average at $236.63 and $365 to $386 on a dressed basis, weighted average $380.03 Oklahoma National Stockyards Feeder Cattle - Oklahoma City, OK Livestock Weighted…

Date: June 2, 2025 Mixed trading for cattle and lean hogs to end last week with cattle lower week over week and hogs higher. Cash prices and meat values higher for both last week, but the false rumors about New World Screwworm in the U.S. really set cattle back hard early in the week. Cash fed cattle trade higher for the 7th consecutive week. Trade in KS and TX reported from $220 to $223 live, $1 to $3 higher than the week previous and northern trade $234 to $237 live and $365 to $371 dressed which $4 to $8 higher. Weekly closes for livestock futures and meats… June Live Cattle -$.32, August -$1.10, August Feeder Cattle -$1.55, September -$1.65, June Lean Hogs +$3.02, July +$3.37.…

The cattle complex has been stuck at a crossroad for about a week now, trying to figure out if continued bullish fundamentals can resurrect a really bearish technical picture that was created on the charts. Most contract months a week ago posted bearish key reversals at the contract high and then May feeders gapped lower the following day, leaving an island top. In the midst of all that, futures really haven’t recovered much, yet calf and feeder trade remains stout and cash feedlot trade has been steady to higher since. Actually sharply higher yesterday. Odd times for sure and a little precarious considering fund and managed money has the ability to push futures lower while cash hangs in there. Closes yesterday were mild to moderately…

Last week was full of sharp and sudden losses across the cattle complex. Markets had calmed down somewhat by the end of the week probably catching some support from the cash side of the equation. Some market pullback was most definitely in the back of my mind, and it should be expected when the cattle markets went up nearly continuously for a month straight. Like I said, it is important to wade with caution during those high times of the market. Yesterday was a fairly flat day in the cattle complex. Fats opened slightly higher, didn’t test much of red territory and finished all on the plus side. Feeders were a bit more uncertain as they traded an even range on both sides of the…