Author: ploewen

Great start for the feeder cattle market yesterday, but not a great finish by any means. Sunday night corn trade was sharply lower, which brought friendly expectations for the open. Early trade was well over $1 higher, corn was down in the teens and stayed there till the close, but both the live and feeder markets faded into the closing bell as well. Live cattle had one month down over $1. Feeders were mildly lower on all but the front month August contract that settled mildly higher. The National Feeder Cattle Summary that comes out Monday afternoon’s now cited steers and heifers across the Central Plains states selling steady to $4 higher last week and cattle in the Southeast were $4-$7 higher. The cheerleaders in…

Date: August 15th, 2022 All livestock futures finished in the red on Friday but the nearby, and in delivery, August live cattle contract was able to hit yet another new recent high and settled just $1.60 away from the contract high. TX & KS cash fed cattle trade took a big step higher, up to $140 live which was $4 to $5 higher than a week ago. The North trade still carrying a premium but only managing steady to $2 higher, ranging from $144 to $148 live and $229 to $230 dressed. The USDA updated meat supply and demand on Friday with beef production this year increasing 68 mil pounds and next year increasing 325 mil pounds compared to a month ago. Beef exports also…

Date: August 9th, 2022 Livestock futures took an hour or so to get going yesterday morning, but strong gains held throughout the day. Live cattle supported by higher cash trade last week and higher equites. That in turn helps support the feeder markets as well with corn under some pressure to begin the week. Lean hogs trading and nearly holding triple digits higher on the front two months on Monday as higher trends hold for all three and lean hogs the closest to take a run at contract highs from this spring. Oklahoma National Stockyards Feeder Cattle - Oklahoma City, OK Livestock Weighted Average Report for 8/8/2022 – Prelim This Week: 7,500 Last Week: 9,112 Last Year: 8,231 Compared to last week: Feeder steers unevenly…

Date: August 8th, 2022 Livestock futures finished out another week higher and were able to secure gains week over week supported by friendly fundamentals. Negotiated cash fed cattle trade last week steady to $2 higher in the South at $135 to $136 live and steady to $5 higher in the North at $140 to $146 live and $225 to $232 dressed. There were also reports of northern regional packers paying up to $138 live to bring fed cattle out of KS. Feeders pulled higher by the fat cattle support even with corn rallying last week. Lean hogs were mixed all week as pork values bounced higher and lower. For the week, Friday July 29th through Friday August 5th, August Live Cattle +$1.42, October +$1.65, August…

Date: August 1st, 2022 Livestock futures finished out last week higher but losses earlier for the week kept cattle futures lower week over week. Sharply higher grains all week provided most of the pressure. Negotiated cash fed cattle trade last week steady to slightly lower with TX and KS live trade done mostly at $135 and NE at $138 live and $225 dressed. I would expect to see additional pressure on futures this week especially hogs as both pork values and cash were lower to end the week. For the week, Friday July 22nd through Friday July 29th, August Live Cattle -$.92, October -$.77, August Feeder Cattle -$2.97, September -$2.92, August Lean Hogs +$1.95, October +$.90 Boxed Beef, Choice +$2.12 @ $269.24, Select -$.25 @…

Date: July 27th, 2022 All livestock futures lower yesterday, led by $2 losses for feeders as grains continued their rally. This is the most pressing right now although feeders are still holding a higher trend and the nearby August live cattle contract broke through resistance on Monday for a new recent high. If cash trade can hold steady or even add a couple bucks this week that would help give some life to the August contract as we enter deliveries next week. Some cash fed cattle developing on Tuesday in TX at $135 live, steady to $1 lower than last week and in KS at $136 live which would be steady. Oklahoma National Stockyards Feeder Cattle - Oklahoma City, OK Livestock Weighted Average Report for…

Date: July 25th, 2022 Livestock futures were mostly triple digits higher on Friday and for the week. Negotiated cash fed cattle trade last week though mostly steady to $1 lower with TX and KS live trade from $135 to $136 and NE from $139 to $143.50 live and $225 to $228 dressed. The markets were feverishly awaiting multiple reports from USDA on Friday. The cattle inventory report was bullish as all cattle and calves on July 1 totaled 98.8 million head, 2% below a year ago and the fewest number of beef cows since 2014. The Cattle on feed report was friendly, just not as much as expected with placements in June at 1.63 million head, 98% vs. last year with expectations of only 94-95%.…

Date: July 20th, 2022 Feeders were the leader higher yesterday with a gap higher open and strong $2+ gains. Now some of this was of course due to corn under pressure, but it does open the door for a test of last week’s highs. Live cattle and lean hogs held small gains on Tuesday with both beef and pork prices higher. Some cash fed cattle developing on Tuesday in TX and $136 live, $1 lower than last week. Oklahoma National Stockyards Feeder Cattle - Oklahoma City, OK Livestock Weighted Average Report for 7/18/2022 – Final This Week: 12,107 Last Week: 9,481 Last Year: 7,184 Compared to last week: Feeder steers 4.00 - 7.00 lower. Feeder heifers unevenly steady. Steer and heifer calves 3.00 - 6.00…

Date: July 18th, 2022 Livestock futures backed off to end last week but still finished higher week over week. Negotiated cash fed cattle trade in the South mostly steady compared to the week previous at $137 live. North live trade steady to lower at $144 to $145 while dressed trade done mostly at $230 which is $2 lower than the week previous. Feeders will be the ones to watch this week as we have shifted prices higher into a new trading range. Lean hogs remain range bound and without higher cash trade this week, so will live cattle. For the week, Friday July 8th through Friday July 15th, August Live Cattle +$.97, October +$.60, August Feeder Cattle +$4.62, September +$4.95, July Lean Hogs +$2.05, August…

Date: July 6th, 2022 Well, I guess we can call yesterday’s markets an explosion, maybe the better term is implosion though coming off the 3-day holiday weekend. Cattle futures did open higher yesterday but quickly moved and held triple digits losses as equites, energies and all grains lower and a sharply higher US$. Lean hogs were the only Ag commodities to hold gains as cash prices and pork values jumped to support the front two months. We should be able hold steady cash fed cattle trade again this week and continue to see the premiums paid in the North. Showlists are mixed, a bit bigger in the North and smaller in the South, but all still very manageable supplies. I think the questions still exist…