Author: ploewen

Date: March 29th, 2022 Cattle futures actually held better than expected with the bearish cattle on feed report last Friday. Lean hogs were higher but somewhat quiet after last week’s sharply higher moves. All livestock futures desperately seeking more direction to start this week with almost all contracts trading both sides of unchanged and only $1 ranges. Oklahoma National Stockyards Feeder Cattle - Oklahoma City, OK Livestock Weighted Average Report for 3/28/2022 This Week: 8,660 Last Week: 8,458 Last Year: 8,889 Compared to last week: Feeder steers 2.00 - 4.00 higher. Feeder heifers 1.00 - 3.00 higher. Stocker cattle 5.00 - 9.00 higher. Steer calves 7.00 - 10.00 higher with instances 15.00 higher. Heifer calves 5.00 - 9.00 higher with instances 14.00 higher. Tulsa Livestock…

Date: March 23rd, 2022 All Ag markets mixed yesterday, trading both sides of unchanged, yet less wild moves than previous sessions. Cattle futures did end up with mild losses yesterday, only the nearby feeder contract able to hold small gains. Lean hogs were higher for all expect the nearby April contract. Cash prices and pork values sharply higher yesterday. Live cattle futures waiting for cash trade to develop as they led the way higher last week resulting in mostly steady cash fed cattle trade. Asking prices are again $1 to $2 higher so far this week. We also have a Cattle on Feed report this Friday after the close. The early trade estimates looking for on feed numbers around 1% higher than a year ago…

Date: March 21st, 2022 Livestock futures finished the week with solid gains as cattle futures were higher week over week but lean hogs lower. Cash fed cattle trade mostly steady with the week previous at $138 live and $221 dressed. Packers were a little short bought though with light volume to end the week up to $140 live and $225 dressed. For the week, Friday March 11th through Friday March 18th, April Live Cattle +$3.20, June +$4.12, March Feeder Cattle +$3.72, April +$4.35, August +$3.62, April Lean Hogs -$3.32, June -$2.10. Boxed Beef, Choice +$3.45 @ $258.16, Select +$1.54 @ $250.65, Pork Carcass Cutout +$2.40 @ $105.95. Oklahoma Weekly Cattle Auction Summary Livestock Weighted Average Report for 3/13/2022 - 3/19/2022 Current Week: 29,980 Last Report…

Date: March 14th, 2022 The wild swings in the markets continued last week but more so to the downside as wheat futures were sharply lower yet fall crops were able to maintain week over week gains and livestock futures showed decent gains to end the week. Lean hogs were the leader higher on Friday with the June contract able to post new recent highs for March. Beef prices were able to stabilize last week. Slaughter started the week topping what has been the daily max recently of 125K a few times but levels backed off to end the week. Cash fed cattle trade another $2 to $4 lower again last week at $138 live and $219 to $222 dressed. For the week, Friday March 4th…

Date: March 9th, 2022 Fats traded $2 ranges yesterday, feeders and hogs $3+ with all closing higher except the nearby March Feeder contract. Cash negotiated fed cattle trade starting off the week $2 lower at $138 live and $222 dressed. Cattle slaughter though so far this week at the top end of capacity. Oklahoma National Stockyards Feeder Cattle - Oklahoma City, OK Livestock Weighted Average Report for 3/7/2022 This Week: 10,627 Last Week: 5,458 Last Year: 13,686 Compared to last week's light test: Feeder steers 4.00 - 6.00 lower. Feeder Heifers 5.00 - 8.00 lower. Steer calves 4.00 - 6.00 lower. Heifer calves 6.00 - 9.00 lower. 7 weight index steers averaging $149-$156 and the 8 weight index steers averaging $139-$147. Joplin Regional Stockyards Feeder…

Date: February 28th, 2022 A very volatile market the past few days as expanded daily limits were needed on Friday after wheat was $.50 limit up on Thursday then reversed $.75 limit lower on deferred contracts and $.80+ lower on the front month Chicago wheat. Almost all of the markets actions tied to the Russian invasion of Ukraine that began mid last week. Both countries are major producers and exporters of wheat along with oilseeds and Ukraine is a major exporter of corn as well. Markets flipped Friday as it was reported that China was flying warplanes near Taiwan, according to the Chinese just a military exercise. An escalation on this front is very bearish to Ag markets as both are major importers of American…

Big week of wild trade for the hog market last week and at times there was decent volatility in the cattle, but weekly closes in both the live and feeder markets were mixed and fairly quiet. Friday’s trade was mildly weaker in fats and feeders and strongly higher in hogs. Beef product prices continue to slide and a big part of that is in reaction to a large increase in production created when daily kills jumped up to the 120k+ head per day level. Late December and through January there were a lot of low teens and mid teen daily numbers with labor issues at plants being pegged as the culprit for the slowdown. February has been full throttle though and the jump in output…

Date: February 16th, 2022 All livestock futures rallying yesterday with higher equites and sharply lower grains. Feeders and hogs held triple digit gains throughout the day as fats were modestly higher. Very light volume cash fed cattle trade on Tuesday in the North at $142 live, the top end of last week’s range. Bids at $223 dressed did not attract any business along with bids in the South at $140 live. Asking prices so far in the South of course are starting $1 to $3 higher than a week ago. I didn’t expect to see any cash trade until midweek and live cattle futures looking for more support from higher cash to retest last week’s highs. Beef prices lower the past few weeks, we’ll see…

Date: February 15th, 2022 Optimistic livestock futures to begin this week as all but a few summer month hog futures finished in the green on Monday. Strong demand the supportive factor heading into this week as pork prices continue to trend higher and cattle slaughter finally pushing past a year ago levels with stronger prices. Negotiated cash fed cattle trade last week totaled 104,457 head of which 80% were committed for nearby delivery. Beef prices though have trending lower the past few weeks with steady cash so far the calls for this week. Oklahoma National Stockyards Feeder Cattle - Oklahoma City, OK Livestock Weighted Average Report for 2/14/2022 This Week: est 13,500 Last Week: 1,830 Last Year: Compared to last week's light test: Feeder steers…

Date: February 9th, 2022 Markets flipped on Tuesday with corn and soybeans pulling back some from Monday’s new highs and cattle futures posting gains. Lean hogs continue to soar higher as April forward contracts hit new contract highs again yesterday. Fats were in essence steady for the day as nearby feeders broke higher but deferred contracts only held small gains. Cash fed cattle trade steady so far this week on only light volume at $139 to $141 live and $222 to matching the top end last week at $224 dressed. Oklahoma National Stockyards Feeder Cattle - Oklahoma City, OK Livestock Weighted Average Report for 2/7/2022 This Week: 1,830 Last Report 1/31: 11,125 Last Year: 7,200 Compared to last week: Receipts limited due to winter storm…