Author: ploewen

Date: June 1st, 2022 Red quotes filled the Ag commodity screens yesterday as we came off a 3-day weekend to wrap up the month of May. Yes, some could be position squaring for month end, but it seemed to be a bit aggressive. Grains led the way lower which made sense that feeders caught some support and were triple digits higher for the first couple hours of trading. That didn’t last though as even feeders could not even hold gains with all livestock futures finishing triple digits lower yesterday. Small volume cash fed cattle trade reported in KS and TX at $135, already $2 lower than last week. Kingsville Livestock Auction - Kingsville, MO Livestock Weighted Average Report for 5/31/2022 This Week: 1,895 Last Week:…

Date: May 31st, 2022 All livestock futures finished under mild pressure heading into the 3-day holiday weekend, but still held gains week over week. Cattle futures still holding the lower trend with feeders into new lows to begin last week. Lean hogs continue to hold a higher trend over the past couple weeks. Weekly pork export sales and shipments were bullish and prices holding firm. Negotiated cash fed cattle was steady to $2 lower than the week previous with live trade in the South from $136 to $137 and dressed trade in the North ranging from $223 to $227. For the week, Friday May 20th through Friday May 27th, June Live Cattle +$.60, August +$.85, May Feeder Cattle +$1.17, August +$2.40, June Lean Hogs +$1.52,…

Date: May 23rd, 2022 Cattle futures mixed to mostly lower for feeders, as lean hogs continued to rally off new recent lows. Four out of the last six trading days, lean hogs have closed triple digits higher supported by higher cash and pork prices. May feeders tested the contract lows from last year at $153 as August forward made new contract lows on Friday. Negotiated cash fed cattle trade was $2 to $3 lower than the week previous with KS slipping off the $140 mark for the first in the past 5 weeks. Trade in TX and KS from $136 to $138 live with most at $138 and trade in the North from $140 to $145 live and $223 to $228 dressed, majority at $226.…

Date: May 16th, 2022 Livestock futures rebounding to finish mostly higher on Friday but still lower week over week. Cash feedlot trade steady to a shade weaker with trade in KS and TX at $140 live but full range down to $137. Trade in the North from $140 to $144 live and $227 to $230 on a dressed basis. USDA projected 2023 supply and demand for the meats for the first time as beef supply is expected lower than this year with pork and poultry supply projected higher. Cattle herd liquidation still continues providing additional pounds of beef near term but bullish long term. For the week, Friday May 6th through Friday May 13th, June Live Cattle -$.67, August -$3.00, May Feeder Cattle -$1.67, August…

Date: May 11th, 2022 Livestock futures mostly triple digits lower on Tuesday as grains were steady to higher. Cash fed cattle trade starting yesterday on light to moderate volume in TX at $139 to $140 live and in KS at $140. This is steady to $1 lower with last week, but with futures remaining under pressure and plenty of supply available, I would not expect any better than steady money this week. Lean hog futures continue to press lower but cash prices have rallied recently as packers are still scrambling to find ready available supplies. Beef and pork prices both continue lower. Oklahoma National Stockyards Feeder Cattle - Oklahoma City, OK Livestock Weighted Average Report for 5/9/2022 This Week: 6,532 Last Week: 8,762 Last Year:…

Date: May 9th, 2022 Livestock futures mixed on Friday, mostly higher for the week for cattle futures and lower for hogs. African swine fever still spreading across Europe and most recently found in Rome. Beef prices continue to fade lower as consumer demand is lacking for what is still high-priced beef as we head into the prime summer grilling season. Cash feedlot trade mostly steady again this past week at $140 live in South, although late week trades reported down to $138. In the North, live trade from $140 to $146 and dressed trade done mostly at $232. For the week, Friday April 29th through Friday May 6th, June Live Cattle +$.10, August + $.07, May Feeder Cattle +$3.20, August +$6.42, June Lean Hogs -$2.27,…

Date: May 4th, 2022 Cattle futures higher for the second day in a row as most contracts have now gained back all that was lost last week. Lean hogs continue sharply lower, down $20 since mid-April but still some $5 to $10 away from the long term support levels from late last year. Light volume cash feedlot trade yesterday in CO, NE and WCB steady with a week ago at $144 to $146 live and $230 to $232 dressed. In the South only a bid in at $141 but asking prices $142 and higher. The past couple weeks, trade had begun in earnest by Tuesday. Last week’s trade though saw packers pushing delivery a couple weeks further back and it was the largest weekly volume…

A moderate drop in corn futures trade yesterday was accompanied by some massive gains in the feeder cattle futures. I think it helped immensely that the deferred live cattle months were up strongly as well. After the April live contract went off the board, the typical June futures discount was mildly outside of historical normal levels based on Southern trade last week, but it was way undervalued versus some of the action in the north. June was up $3 at one point and settled just over $2.50 higher and that narrowed the gap to much closer to normal in Texas and Kansas, but still strong discount for anything north. Futures need to come up or cash needs to come down, but reality states we’ve got…

Date: May 2nd, 2022 Livestock futures again mostly lower on Friday and week over week sharply lower. Lean hogs triple digits lower 3 out of the 5 days last week. All the charts look ugly as both cattle contracts and lean hogs ended the week hitting new recent lows. Negotiated cash fed cattle trade was again reported early in the week and I had hoped would provide some support. Trade in the South was steady at mostly $140 live along with trade in the North from $144 to $146 live and mostly $232 dressed. The top end trades though were not as high as the previous week and some delivery slated for mid to last half May. For the week, Friday April 22nd through Friday…

Date: April 27th, 2022 Mixed livestock markets on Tuesday with mostly higher grains. Cattle futures started the week under heavy pressure stemming from a bearish cattle on feed report after the close last Friday and bearish outside market influence on Monday. Live cattle futures caught a bid yesterday as packers are still short bought and cash trade already developing this week at steady to higher money. Southern cattle began trading on Monday at $140 live, fully steady with a week ago as northern cattle trade followed at $1 to $2 higher from $144 to $146 live and $230 to $236 on a dressed basis. Feeders remained under pressure on Tuesday with grains higher. Most contracts are still $2 to $3 away from the recent spike…