Author: ploewen

Date: March 15th, 2021 Livestock futures finished last week mixed, but this time with cattle futures higher and lean hogs steady to lower. Live cattle higher and feeders were triple digits higher on Friday which was enough to score mostly positive gains week over week. Lean hogs were sharply higher already most of last week to secure weekly gains. Cash feedlot trade steady now for the sixth week in a row at $114 live and $180 dressed. Steady to $2 lower though on Thursday in the Western Corn Belt at $112 to $113 live and $178 to $180 dressed. Carcass weights have declined sharply to match a year ago levels. This along with tighter supplies could finally lead to a breakout higher. Rumors are circulating…

Date: March 12th, 2021 Another mixed day for livestock futures as cattle continue to search for direction and lean hogs race higher. Cash feedlot trade steady now for the sixth week in a row at $114 live and $180 dressed. Steady to $2 lower though yesterday in the Western Corn Belt at $112 to $113 live and $178 to $180 dressed. Carcass weights have declined sharply to match a year ago levels. This along with tighter supplies could finally lead to a breakout higher. Farmers and Ranchers Livestock Commission Co. - Salina, KS Livestock Weighted Average Report for 3/11/2021 Total Receipts: 3,417 Last Reported 3/4/21: 4,648 Last Year: 1,663 Compared to last week steers 400 to 550 lbs and 600 to 650 lbs were 4.00…

Date: March 3rd, 2021 A mixed Tuesday for livestock futures as cattle traded both sides of unchanged, $1+ ranges for live cattle and $2+ ranges for feeders. Buying support for cattle futures still cautious as fundamentals are mixed and again looking for higher cash feedlot trade. Cash trade has stalled now the past few weeks at $114 live and $178 to $182 dressed. Lean hogs sharply lower yesterday has profit taking took hold even though pork prices continue to rally. April lean hogs have added over $20 from mid-January lows to the new contract high last week. We will see if the rally can hold as rumors are swirling that China may be getting hit with another round of African swine fever from this winter.…

Date: March 1st, 2021 Livestock futures under pressure to end the week but mixed week over week. Cash feedlot trade remained mostly steady when compared to the week previous at $114 live with dressed trade steady to $2 higher from $180 to $182. Slaughter levels rebounded to come near the highest weekly totals so far this year. Beef and pork prices continue to increase in value as well. For the week, Friday February 19th through Friday February 26th, February Live Cattle -$2.82, April -$3.67, March Feeder Cattle -$.45, April -$.10, April Lean Hogs +$2.65, June +$1.85, April Pork Cutout Futures +$2.22. Boxed Beef, Choice +$1.30 @$240.53, Select Cutout +$1.83 @ $229.73, Pork Carcass Cutout +$2.35 @ $93.84. Cattle slaughter from Friday estimated at 119,000 head…

Date: February 24th, 2021 Livestock futures mixed yesterday with cattle under pressure and hogs higher. Showlists smaller this week as last week’s slaughter plant shutdowns may not back up fed cattle or hurt the market has badly as initially thought. Light trade so far this week at $114 live in TX and $181 dressed in the North, steady with the past couple weeks. It does feel like though once we can get some momentum and buying enthusiasm there comes a setback for cattle. Feeders still holding their recent trading range but live cattle broke through nearby support yesterday. USDA January Cold Storage Report Total red meat supplies in freezers were up 3% from the previous month but down 12% from last year. Total pounds of…

Pretty quiet close on the first day of the week in the cattle complex and a little tough to analyze in some aspects as well. The grain and oilseed sector was higher and live cattle were trading lower, yet the feeder cattle market still managed to finish higher on the day. Higher corn and steady to weaker fats should have pressured the feeders, but it didn’t. Part of that could be tied to the fact very few calves and feeders have changed hands in the Central and Southern Plains in the last two weeks with the nasty weather, so there is a chance for buying enthusiasm on the cash side. Last week’s total run of cattle based on the National Feeder Cattle Summary was just…

Date: February 22nd, 2021 Cattle futures higher on Friday while lean hogs were lower and all mostly lower for the week. Cash feedlot trade remained mostly steady when compared to the week previous at $114 live and $180 on a dressed basis. Some light volume traded as high as $116 live and $182 dressed. Export sales and shipments for pork remain friendly as beef sales were friendly at 22,900 MT but actual shipments for the week ending February 11th were only average at 15,500 MT. Cattle on feed as of February 1st at 12.1 million head and in line with expectations at 101% vs. a year ago. This is the second highest February 1 inventory. Placements in January bearish at 2.02 million head, 3% higher…

Date: February 17th, 2021 Livestock futures mixed yesterday and looking for direction, cattle futures did a decent job of defending last week’s rally. How many slaughter plants are down and for how long is the lingering question? Yesterday was the second day of rolling electrical outages in the 14 state Southwest Power Pool. Most salebarns have cancelled sales this week. A pork plant in Alberta is shutting down for an indefinite time due to continued COVID outbreaks. This carries good and bad news as this could help already bullish exports from the U.S. but also the market fears are still present here in the states of another wave shutting down plants. NATIONAL FEEDER & STOCKER CATTLE SUMMARY – WEEK ENDING 02/13/2021 RECEIPTS: Auctions Direct Video/Internet…

Date: February 16th, 2021 Livestock futures higher on Friday and higher for the week. Cash feedlot trade disappointing last week though with the high end midweek steady with the week previous at $114 live but faded to end the week with light volume down to $112. Dressed trade in the North held steady at $180. Delivery against the February live cattle contract should get ramped up again as it continues to trade at $3 to $4 premium to cash. There was some chatter that a few slaughter plants may have to shut down heading into this week due to freezing temps and a lack of or redirecting natural gas needs. For the week, Friday February 5th through Friday February 12th, February Live Cattle +$.47, April…

Date: February 10th, 2021 Livestock and grain futures mixed yesterday with cattle futures and soybeans finished mostly higher while corn and wheat lower. Cash feedlot trade very light so far this week on some cleanup trading at $178 dressed in the Western Corn Belt and $114 to $114.25 live in TX and KS. Asking prices to move sizeable volume as high as $117 live and $185 dressed. The largest supplies of slaughter ready cattle are behind us now which should lead to trading leverage in the hands of feeders. Bitter cold weather throughout the plains this week will impact gains, most cattle will perform poorly and some will lose weight. USDA updated supply and demand yesterday with the largest change on the livestock side for…