Author: ploewen

Date: October 19th, 2021 Livestock futures mixed yesterday with live cattle posting an inside trading day, feeders triple digits lower and lean hogs showing some follow through buying but on light volume. Cash feedlot trade yet to develop as midweek high volume looks to play out again. There could be some business holding off until after the Cattle on Feed report to be released after the close this Friday. China reported September pork imports down 44% compared to a year ago and year to date pork imports down 4.3%. This reduction has led to some of the recent pressure but will also be important moving forward as we still need to see long term pork demand expand. Oklahoma National Stockyards Feeder Cattle - Oklahoma City,…

Date: October 18th, 2021 Livestock futures mixed last week as live cattle rallied to new recent highs but both feeders and lean hogs were flat to under pressure all week. Cash feedlot trade held steady in the South at $124 live with NE adding $2 from the week previous to match at $124 live and dressed trade steady at $196. The monthly supply and demand report was friendly for cattle with increased production, increased domestic consumption and decreased pork and poultry production. The next fundamental update will come this Friday with the October Cattle on Feed report. The early estimates are looking for placements to be slightly higher than a year ago, marketings lower and on feed right in line with last year. Oklahoma Weekly…

Date: October 14th, 2021 A massive commodity selloff yesterday with only soybean oil, canola and cotton futures able to hold gains. Cattle futures mostly triple digits lower with nearby live cattle gaining back some into the close. Light cash feedlot trade Tuesday steady with last week in the WCB at $122 live and for the TX Cash Pool at $124.15. More volume on Wednesday, again steady with a week ago at $124 live in TX and KS, a few up to $124.50. NE trade picked up as well at $124 live, a few up to $125, mostly $2 higher and $196 dressed which is steady with last week. Lean hogs traded a tight range with small losses. The nearby October contract expires today as most…

Date: October 13th, 2021 Livestock futures mixed again on Tuesday as cattle futures traded both sides of unchanged and lean hogs continue to drift lower. Light cash feedlot trade yesterday steady with last week in the WCB at $122 live and for the TX Cash Pool at $124.15. USDA updated supply and demand for the meats by increasing beef production estimates for both this year and next while decreasing both pork and poultry production estimates. The report confirming longer term bullish fundamentals for the cattle market as liquidation, increased domestic consumption projections and reduced pork and poultry production should eventually lead to higher sustained prices. Winter Livestock (Tuesday) - La Junta, CO Livestock Weighted Average Report for 10/12/2021 This Week: 2,171 Last Week: 1,770 Last…

Date: October 12th, 2021 Monday’s livestock trade was mixed but a continuation of last week’s trade with cattle mostly higher and hogs lower. Cash feedlot trade a typical quiet Monday as I would expect to see trade pick up midweek. Feeders trying to define a trading range now after the sharp collapse last month. Long term fundamentals are still friendly but there’s still a lot of technical damage to repair first. Oklahoma National Stockyards Feeder Cattle - Oklahoma City, OK Livestock Weighted Average Report for 10/11/2021 This Week: 8,200 Last Week: 6,210 Last Year: 6,867 Compared to last week: Feeder steers 2.00 - 4.00 higher. Feeder heifers unevenly steady. Steer calves 3.00 -5.00 higher. Heifers calves steady to 2.00 higher. Demand is moderate to good.…

Date: October 11th, 2021 Livestock futures mixed last Friday but cattle futures sharply higher for the week while lean hogs slipped lower after new recent highs on October 1st. Both beef and pork prices continue to pull lower but cash feedlot trade held steady yet again. Over the past 6 weeks, KS has had at least some $124 live trade and this past week was no different with trade ranging from $122 to $124. TX trade mostly at $124 with the midweek cash pool trade breaking that barrier up to $124.15. NE trade steady with the week previous at $196 dressed but live trade trending lower and down to $122. Oklahoma Weekly Cattle Auction Summary Livestock Weighted Average Report for 10/3/2021 - 10/9/2021 Total Receipts…

Date: October 6th, 2021 Tuesday’s trade focused on continued strength for cattle futures, continued pressure on hogs and reversals for the grains. Live cattle and lean hogs finished mixed but feeders held triple digit gains. Cattle futures oversold after a month and a half of collapsing values. It is still hard to get bullish based off the charts yet though, need another $2 to $3 rally to test nearby resistance levels. Lean hogs were sharply higher last week but follow through this week has been absent. Beef prices mixed but overall still drifting lower. Cash fed cattle trade so far this week mostly steady from $122 live in the North to $124 in the South with the TX Cash pool breaking the $124 ceiling at…

Date: October 4th, 2021 Livestock futures mixed on Friday but cattle lower on the week while lean hogs were sharply higher. Cash fed cattle trade steady with the week previous. Trade in South mostly at $124, but the full range was $121 to $124. Trade in the North steady as well from $122 to $124 live and $196 dressed. Lean hogs gapped higher to begin last week after a bullish Quarterly Hogs and Pigs report and continued to post gains for the balance of the week. Oklahoma Weekly Cattle Auction Summary Livestock Weighted Average Report for 9/26/2021 - 10/2/2021 Total Receipts Current Week: 27,482 Previous Week: 27,955 Last Year: 26,028 Compared to last week: Feeder steers steady to 3.00 lower, except 800-900 lbs 1.00-3.00 higher.…

Date: September 29th, 2021 Livestock futures were mixed on Tuesday with live cattle lower under light pressure, feeders reversing higher after Monday’s triple digit selloff into new lows and lean hogs adding to Monday’s gap higher and a couple contracts limit higher. Cash fed cattle trade so far this week a couple dollars lower compared to last week on light volume at $122 live in KS and $193 to $196 on a dressed basis in NE. Oklahoma National Stockyards Feeder Cattle - Oklahoma City, OK Livestock Weighted Average Report for 9/27/2021 This Week: 5,874 Last Week: 6,687 Last Year: 5,767 Compared to last week: Feeder steers unevenly steady. Feeder heifers 2.00 - 5.00 higher. Steer and heifer calves unevenly steady. Demand moderate to good. Tulsa…

Big day for the hogs on Monday in reaction to Friday’s bullish Hog and Pig report data. Total inventory numbers came in 4% below last year, breeding herd numbers were down 2% and market hog numbers were down 4%. Adding a little more spice to the mix, summer farrowings were down 7% and 2nd intentions for Sep-Nov were down 4%. That full gamut of friendly news resulted in $4+ higher closes across most contract months with the only exceptions to that being the front month October and a couple of deep deferreds. Contrary to the hog reports bullish numbers, COF data was mildly bearish versus the expectations and hogs didn’t provide any spillover into the cattle futures. The live cattle closed mildly weaker and with…