Author: ploewen

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,…

Date: November 2nd, 2022 The cattle markets remain hesitant as grains pushed higher again yesterday. We did see small gains earlier from both live cattle and feeders but soybeans were the leader higher yesterday and they seemed to help pull corn and wheat along with it. Lean hogs continue to hold nearby support and actually settled steady to higher. Very light volume cash fed cattle trade so far this week in the WCB only at $152 live. I would not expect to see much volume until Thursday. Asking prices in the South are $2 higher than last week’s $150 live trade. Oklahoma National Stockyards Feeder Cattle - Oklahoma City, OK Livestock Weighted Average Report for 10/31/2022 - Final This Week: 6,565 Last Week: 7,938 Last…

Date: October 31st, 2022 New contract highs for live cattle and new recent highs for feeders last week but week over week changes were mixed as most contracts sold off to end the week. Fundamental news has been supportive from the latest Cattle on Feed report to this past week’s higher cash fed cattle trade. TX and KS trade was $2 higher than the week previous at $150 live. Trade in the North was $2 to $4 higher from $152 to $155 live and mostly $240 on a dressed basis. For the week, Friday October 21st through Friday October 28th, October Live Cattle -$.10, December +$.57, November Feeder Cattle -$.47, January unchanged, December Lean Hogs -$3.02, February -$1.67. Boxed Beef, Choice +$9.55 @ $263.26, Select…

Date: October 19th, 2022 Livestock futures higher again yesterday with grains lower and equites higher. Triple digit gains for all the feeders except the soon to expire October contract. Live cattle held modest gains as the market awaits what we hope is higher cash trade again this week. The nearby October contract yet again into a new contract high yesterday. Only light volume cash fed cattle trade reported in the WCB at $150 live as $150 and $151 passed so far in NE. Lean hogs continue to rally, now over $13 higher from the spike low earlier this month. Oklahoma National Stockyards Feeder Cattle - Oklahoma City, OK Livestock Weighted Average Report for 10/17/2022 - Final This Week: 6,579 Last Week: 8,521 Last Year: 6,290…

Date: October 17th, 2022 Livestock futures trading mixed all week with live cattle back and forth, feeders under pressure and lean hogs extending their recent rally. Cash fed cattle trade steady to $2 than the week previous with live trade in the South at $145 and trade in North ranging from $145 to $150 live and mostly $232 on a dressed basis. For the second week in a row, sales volumes were lighter than the previous week and asking prices should be sharply higher this week. Weekly export sales and shipments for beef were light last week as international demand is becoming a concern. Pork sales and shipments friendly, just under the 30K MT level and China continues to be a good buyer. For the…

Date: October 12th, 2022 Feeder cattle losses a bit overdone on Monday as all was gained back on Tuesday with corn only off a nickel. Live cattle held $1 gains and the nearby October contract hit a new recent high with the September high now the next target at $146.77 then the contract high at $147.50. Cash fed cattle trade so far this week only light volume in the North at $146 live. Oklahoma National Stockyards Feeder Cattle - Oklahoma City, OK Livestock Weighted Average Report for 10/10/2022 - Final This Week: 8,521 Last Week: 8,346 Last Year: 7,410 Compared to last week: Feeder steers 1.00 to 3.00 lower. Feeder heifers unevenly steady. Demand moderate to good. Quality mostly average. Steer calves unevenly steady. Heifer…

Date: October 5th, 2022 Livestock futures under pressure again on Tuesday even though equites were sharply higher and US$ sharply lower. Beef prices higher so far this week is supportive and here’s hoping we have seen the seasonal low. It’s hard to lock that in just yet though as economic woes still linger over these markets. Live cattle held up the best yesterday as feeders stayed around $1 lower and lean hogs triple digits lower. Pork prices continue lower along with a new recent low yesterday in the nearby October contract. Light volume cash fed cattle trade in the North at $148 live and $230 dressed so far this week with asking prices now hovering around $145 live in the South and up to $150…

Date: October 3rd, 2022 Livestock futures finished the week under pressure as corn and wheat popped higher from the bullish quarterly stocks and small grains report from USDA on Friday. Equites were also lower and pressure continues from lower beef and pork prices. Negotiated cash fed cattle trade last week was mostly steady to just a shade weaker compared to the week previous. Trade in the South at $142 to $143 live and trade in the North from $144 to $148 live and $228 up to $233 dressed. For the week, Friday September 23rd through Friday September 30th, October Live Cattle -$.97, December -$1.50, October Feeder Cattle -$4.17, November -$3.62, October Lean Hogs -$3.40, December -$6.57. Boxed Beef, Choice -$4.88 @ $243.75, Select +$.82 @…

Date: September 26th, 2022 Almost all markets lower to end last week, feeders were the only mixed with deferred contracts holding small gains. Equites, energies and grains all sharply lower as the US$ shot higher on overall world economic and geopolitical concerns. Negotiated cash fed cattle trade last week was $1 to $4 higher than the week previous with trade in the South at $143 live and trade in the North from $144 to $148 live and $228 up to $234 dressed. After the close, yet another month of larger than expected placements and a bearish cattle on feed report. Cattle and calves on feed as of September 1st totaled 11.3 million head, slightly above a year ago. Placements in feedlots during August totaled 2.11…

Date: September 21st, 2022 Livestock futures mixed yesterday as higher grains pressuring feeders once again but live cattle and hogs were able to hold small gains even with another red day in the stock market. The FED began meetings yesterday that most feel will result in yet another interest rate hike. Cash fed cattle trade still only light volume at $145 to $147 live and $227 dressed in the North which would be steady to $1 higher than last week. As live cattle futures are still hanging on, there’s still talk we can see $1 to $2 higher trade. Cattle on feed report coming this Friday with expectations for the same on feed numbers vs. a year ago but 2% less placements in August and…