Author: ploewen

Date: August 16th, 2021 Livestock futures finished the week mixed with cattle futures lower and lean hogs higher. Negotiated cash cattle trade last week was fully steady with the week previous but wide ranges. Trade in the South ranged from $119 to $125 live, done mostly at $121. Northern trade was reported at $125 to $126 live and $198 to $204 dressed with most at $198. Nearly 5 months with the cash trade in KS where the bulk of the trade has been from $119 to $122. Beef prices have ranged nearly $60 in that same timeframe with trade still screaming higher now eighteen consecutive days. Oklahoma Weekly Cattle Auction Summary Livestock Weighted Average Report for 8/8/2021 - 8/14/2021 Current Week: 27,018 Last Week: 27,920…

Date: August 11th, 2021 Cattle futures were mixed yesterday while hogs remain on a lower trend recently. The nearby August contract will expire this week but all other contracts are testing support levels from early July. Both fats and feeders continue to hold their higher trend as fundamentals remain friendly and beef prices are soaring again. Negotiated cash feedlot trade started steady to $5 higher in the North on very light volume. Trade in Iowa reported on Monday at $125 live and $202 dressed. Oklahoma National Stockyards Feeder Cattle - Oklahoma City, OK Livestock Weighted Average Report for 8/9/2021 This Week: 8,231 Last Week: 7,637 Last Year: 8,386 Compared to last week: Feeder steers and heifers unevenly steady. Demand moderate to good. Tulsa Livestock Auction…

Date: August 9th, 2021 Livestock futures mostly higher last Friday which pulled cattle futures higher for the week, hogs still mixed. Cattle futures still holding higher trends but lean hogs into new recent lows last week. Negotiated cash feedlot trade started steady to $1 higher in the North and picked up midweek at $1 to $2 higher in the South. Nebraska and Iowa trade up to $125 to $126 live and $197 to $198 dressed with trade in KS and TX at $121 to $122 live. USDA will begin two new weekly reports beginning next week. Cattle base prices of formula agreements will be published on Monday and cattle sales volumes at weighted average prices for transaction types will be published on Tuesday. Oklahoma Weekly…

Date: August 4th, 2021 Livestock futures continued higher yesterday as grains were off. Cattle futures anticipating higher cash trade this week and beef continues to rally. Negotiated cash feedlot trade so far this week only light movement but steady to higher than a week ago. Nebraska/WCB trade at $125 live and $197 dressed. Texas Cash pool trade yesterday at $120 live compared to no trade the past couple weeks as bids were passed. Higher trends continue to hold for all livestock futures along with mostly friendly fundamentals. Oklahoma National Stockyards Feeder Cattle - Oklahoma City, OK Livestock Weighted Average Report for 8/2/2021 This Week: 7,637 Last Week: 8,494 Last Year: 7,000 Compared to last week: Feeder steers and heifers steady to 3.00 lower. Steer and…

Date: August 2nd, 2021 Livestock futures were mixed for the week, feeders mostly under pressure as grains were higher most of the week. Negotiated cash feedlot trade last week steady to $2 higher than the week previous with trade in the South at $120 live and in the North from $122 to $124 live and $196 to $200 dressed. Volume was light though indicating packers still have sufficient supply on hand. Beef prices rallied last week ahead of Labor Day demand. Higher trends are still holding for all livestock futures contracts and fundamentals, beyond higher feed costs, are friendly as well. Oklahoma Weekly Cattle Auction Summary Livestock Weighted Average Report for 7/25/2021 - 7/31/2021 Current Week: 26,768 Last Week: 28,027 Last Year: 24,110 Compared to…

Date: July 26th, 2021 Livestock futures finished the week higher. Negotiated cash feedlot trade last week steady to lower than the week previous with trade in the South from $117 to $119 live and in the North $121 to $122 live and $194 to $200 dressed. Total cattle inventory at 101 million head with beef cows down 2% at 31.4 million and calf crop at 35.1 million, down slightly from a year ago. Cold Storage reported last week with total red meat supplies in freezers were down 4% from the previous month and down 8% from last year. Total pounds of beef in freezers were down 4% from the previous month and down 7% from last year. Frozen pork supplies were down 4% from the…

Date: July 21st, 2021 Cattle futures lower again yesterday with grains holding higher. Lean hogs rallied back higher after Monday’s triple digit lower trading. Texas cash pool, no trades with bids down at $118 live compared to last week’s trade at $120 live. Light volume cash feedlot trade in the North so far this week at $198 to $200 on a dressed basis, steady with last week. Oklahoma National Stockyards Feeder Cattle - Oklahoma City, OK Livestock Weighted Average Report for 7/19/2021 This Week: 7,184 Last Week: 8,859 Last Year: 7,584 Compared to last week: Feeder steers and heifers steady to 2.00 higher. Steers calves 1.00 - 2.00 lower. Heifer calves steady to 2.00 higher. Quality not as attractive as last week and mostly average.…

Date: July 19th, 2021 Cattle futures lower last Friday while lean hogs continue to rally. Germany announced two cases of African swine fever in domestic hog herds on Friday while over the weekend and third case was reported in the same region. Feeders were under pressure all week as grains were higher. Cash feedlot trade mostly wrapped up by midweek at steady yet again. Trade in the Southern Plains at $120 live and dressed trade in the WCB from $196 to $202. Live trades in NE though steady to $2 higher at $123. Beef continues the sharp decline in hopes to spur some additional demand. Oklahoma Weekly Cattle Auction Summary Livestock Weighted Average Report for 7/11/2021 - 7/17/2021 Current Week: 28,673 Last Week: 9,255 Last…

Date: July 14th, 2021 Livestock futures mostly higher on Tuesday as both feeders and fats bounced off technical support levels. Beef prices finished the day lower again but heavy volume was traded on mixed prices throughout the day providing some support as well. Monday negotiated cash feedlot trade on light demand in the North but steady to $2 higher which is good to see at $125 live and $196 to $202 on a dressed basis. TX cash pool on Tuesday trading 528 head at $120, no comparison vs. last week with no sale due to Independence Day but $1 to $2 lower than the last half June sales. Some trade picking up in TX and KS reported late yesterday afternoon at $120 live which is…

I’d like to say that yesterday was all about the report, but yesterday wasn’t really all about the report…, at least in the corn and soybeans. June acreage data was finally added to the S&D’s, so that was a known change. NASS is also typically very reluctant to make changes off of trendline for their yield calculations. Plus, enumerated and survey data doesn’t take place until the September report. Some traders were looking for adjustments to the yield data nonetheless, but they were disappointed, because it didn’t happen. On the old crop corn balance sheet, ending stocks dropped to 1.082 bln bushels with all of it coming from a 25 mln bushel increase in corn feed and residual use. New crop ending stocks were 1.432…