Author: ploewen

Nice day of upward movement in the grains yesterday, but it was a lot different story in the meats. In the cattle complex, the live market was quietly mixed at the close and after a nasty drop on Tuesday that took futures way under last week’s cash, it had everyone scratching their head wondering whether futures were going to stop, or whether it was going to break cash really hard. As of the futures close yesterday, cash hadn’t actively traded anywhere and packer bids in the north were within $2 of last week on the bottom side. By the end of the day, some $247 dressed business had taken place up north, which is $2 under last week and Texas had moved a few at…

Date: December 7th, 2022 Mostly a negative day for all commodities yesterday with outside pressure and little new news to feed the bull. Cattle futures did begin the day in positive territory but those gains were quicky wiped out with both fats and feeders finishing triple digits lower. Corn was higher early in the session which got the ball rolling lower for cattle but overall I feel the pressure on the equities and sharply lower beef prices were the ultimate culprit. It is not a shock to see beef prices fading into the end of the year, but Monday’s Choice close was sharply lower followed up additional loss yesterday for yet another new low for the year. Only light volume cash fed cattle trade so…

Date: December 6th, 2022 Mixed livestock futures to start the week as steady to higher cash fed cattle trade last week was not as supportive as I would have liked to seen. It also didn’t help with outside markets providing pressure. Feeders held triple digits higher with grains off. Oklahoma National Stockyards Feeder Cattle - Oklahoma City, OK Livestock Weighted Average Report for 12/5/2022 - Prelim This Week: 14,000 Last Week: 6,254 Last Year: 17.068 Feeder steers and heifers unevenly steady. Demand moderate to good. Steer calves 4.00 - 7.00 higher, with instances 12.00 higher. Heifer calves over 450lbs. unevenly steady, under 450lbs 15.00 - 20.00 higher. Demand good for most calves. Tulsa Livestock Auction - Tulsa, OK Livestock Weighted Average Report for 12/5/2022 -…

Date: November 30th, 2022 Mixed livestock futures on Tuesday with some recovery for feeders as corn spent most of the day in the red. Only light volume cash fed cattle trade so far this week at $153.50 live with most in TX and KS starting with asking prices from $156 to $157, another couple dollars higher than last week’s trade. Oklahoma National Stockyards Feeder Cattle - Oklahoma City, OK Livestock Weighted Average Report for 11/28/2022 - Final This Week: 6,254 Last Week: 8,769 Last Year: 10,817 Compared to last week: Feeder steers and heifers 1.00 - 3.00 higher with instances 6.00 - 10.00 higher. Steer calves 3.00 - 7.00 higher. Heifer calves steady to 3.00 lower. Quality average to attractive. 7 weight index steers averaged…

Date: November 28th, 2022 Livestock futures were lower on Friday and most contracts lower week over week. Nearby December live cattle were able to catapult higher on Wednesday for a new contract high but no follow through buying after the day off on Thursday as grains were higher and equities lower to end the week. Weekly export sales didn’t help the cattle futures much either with a moderate amount of beef sales at 16,900 MT and exports of 17,300 MT. Pork sales were bullish with a massive weekly sales amount of 50,200 MT and exports at 33,200 MT. Cash fed cattle trade another $2 to $3 higher with live trade in South from $154 to $155 and in the North, live trade from $157 to…

Date: November 21st, 2022 Cattle futures finished higher on Friday to secure week over week gains. Lean hogs though pulled back on Friday and finished mixed for the week. Cash fed cattle trade adding another $1 to $2 compared to the week previous. Trade in KS and TX reported at $151 to $152 live while northern trade still holding a premium at $153 to $155 live and $242 dressed. A friendly Cattle on Feed report after the close could give cattle futures a boost to start this week. Cattle and calves on feed totaled 11.7 million head on November 1, 2022, 98% vs. a year ago and right line with expectations. Marketings of fed cattle during October totaled 1.80 million head, 1% above 2021 and…

Date: November 16th, 2022 Livestock markets mixed on Tuesday with grains higher and pressuring feeders to triple digit losses. Only light volume cash fed cattle trade again in the North, typical of Tuesday’s action the past few weeks. Live trade reported at the top end of last week’s trade at $154 live. Oklahoma National Stockyards Feeder Cattle - Oklahoma City, OK Livestock Weighted Average Report for 11/14/2022 - Final This Week: 10,046 Last Week: 10,816 Last Year: 13,380 Compared to last week: Feeder steers and steer calves unevenly steady. Feeder heifers 1.00-2.00 lower. Heifer calves steady to 3.00 lower. Demand moderate to good. Quality average to attractive. 7 weight index steers averaged $175-$180 and 8 weight index steers averaged $168-$172. Tulsa Livestock Auction - Tulsa,…

Date: November 9th, 2022 The cattle markets were mixed for most of the day on Tuesday but finished steady to lower. Grains were lower yet feeders were still not able to gain any additional support to muster a rally. Cash feedlot trade was reported only on light volume in the Western Corn Belt at steady with a week ago as has been the case the past few weeks. Oklahoma National Stockyards Feeder Cattle - Oklahoma City, OK Livestock Weighted Average Report for 11/7/2022 - Final This Week: 10,816 Last Week: 6,565 Last Year: 10,653 Compared to last week: Feeder steers and steer calves unevenly steady. Feeder heifers steady to 3.00 higher. Heifer calves over 500lbs steady, under 500lbs steady to 5.00 higher. Demand moderate to…

Date: November 7th, 2022 Livestock futures bounced higher and lower throughout last week but most finished the week lower. Pork exports were bullish but prices lower last week while beef was mixed with low sales and shipments. Cash fed cattle trade steady to $2 higher with live trade in the South mostly at $150 and trade in the north from $152 to $153 live and $240 to $243 on a dressed basis. For the week, Friday October 28th through Friday November 4th, December Live Cattle -$1.35, February -$1.95, November Feeder Cattle -$.05, January -$.75, December Lean Hogs -$3.12, February -$2.42. Boxed Beef, Choice +$.49 @ $263.75, Select -$2.59 @ $231.90, Pork Carcass Cutout -$4.62 @ $96.72. Oklahoma Weekly Cattle Auction Summary Livestock Weighted Average Report…

A lot of red ink across the screen in the ag sector on Thursday. For the grains it was almost everything. In the meats, hogs and feeder cattle had more negative than positive, but live cattle settled mixed. The feeder market disconnected from corn and they both moved in the same direction and I think that confused some folks. Negotiated cash at the feedlot level picked up a lot of steam finally yesterday. On Wednesday there was a little $149 in Texas and $242-$243 dressed in the north. After a decisively lower futures trend through the midweek, cash still hung in at steady to even higher levels than the previous week when more volume started to take place. Texas trade so far has been $149-$150,…