Author: ploewen

Date: June 11th, 2021 Livestock futures finished will small gains after spending most of the day in the red. Live cattle continue to trade a very tight range, feeders keeping both eyes on corn prices and lean hogs continue to hit new contract highs. Cash feedlot trade looks to be wrapped up for the week at $119 to $120 live and $190 to $191 dressed, steady now for almost 2 months. USDA made a few adjustments to the meat balance sheet yesterday, the friendly news coming from increased exports for both pork and beef. 2021 beef production increased 5 million pounds and imports up 60 million but more than offset by the 115 million pound increase in exports. Imports for 2022 increased by 40 million…

Date: June 10th, 2021 Livestock futures again mixed yesterday, feeders lower with corn higher, nearby fats higher but deferred contracts lower and lean hogs mostly higher. Cash feedlot trade so far this week on moderate volume in the North and light volume in the South at $119 to $120 live and $190 to $191 dressed, steady now for almost 2 months. June lean hogs yet another new contract high yesterday but the heaviest volume July finishing the session lower. Part of the mixed trading for both livestock and grains coming from news out of China in regards to price controls for wheat, corn and pork. China announced they will be releasing pork reserves to stabilize hog output and prices. Winter Livestock - Dodge City, KS…

Date: June 9th, 2021 Livestock futures mixed yesterday with live cattle and hogs mostly higher but feeders again under pressure with grains higher. Cash feedlot trade picked up on moderate volume in NE and IA at $120 live and $191 dressed, steady now for almost 2 months. June lean hogs into a new contract high yesterday and the July contract matching the contract high from Monday. Pork production, price and demand continue to build and as we hit new highs daily some chatter began yesterday about the Smithfield pork processing plant in South Dakota. The United Food and Commercial Workers Union headed into contract negotiations Tuesday with a 98% vote approving a strike. The Smithfield plant produces roughly 5% of the nation’s pork supply which…

Date: June 8th, 2021 Cattle futures came back from a sharply lower open as lean hog futures continue to rally. June lean hogs hit a new contract high last Friday which held through yesterday’s trade but the highest volume July contract hit a new contract high yesterday. Cash feedlot trade quiet so far this week as we get back to normal slaughter levels and a full week of processing. Volume should be heavier this week and pretty easy to call the market steady until proven different as the past 6 weeks have been flat even with such a volatile futures market. NATIONAL FEEDER & STOCKER CATTLE SUMMARY – WEEK ENDING 06/05/2021 RECEIPTS: Auctions Direct Video/Internet Total This Week: 106,800 52,200 18,300 177,300 Last Week: 150,800…

Date: June 7th, 2021 Livestock futures finished the week mixed as cattle futures under pressure and lean hog futures continue to make new contract highs. Even though the volatility remains high for cattle futures, cash feedlot trade remains flat. The past 6 weeks live trades mostly $119 to $120 and dressed trade $190 to $191. JBS had operations back up running full by Thursday from the cyber attack the weekend prior but slaughter rates were down drastically early last week providing some of the pressure. Gran prices higher last week also hitting feeders. Oklahoma Weekly Cattle Auction Summary Livestock Weighted Average Report for 5/30/2021 - 6/5/2021 Current Week: 10,378 Last Week: 31,141 Last Year: 45,128 Compared to last week: This weeks weighted average consists of…

Date: June 2nd, 2021 Cattle futures sharply lower, lean hogs and all grains sharply higher to start the new month. The JBS cyber-attack over the weekend along with sharply higher corn futures put massive pressure on the cattle markets yesterday. CME also expanded daily limits for cattle with live cattle now able to trade $4/cwt and feeders $6.25/cwt, feeders even touched that limit lower yesterday in the first few minutes of trade. As of the close, JBS had cut production or shifts in its five largest beef plants here in the U.S. which accounts for 22,500 head per day. This was confirmed by the slaughter numbers released by USDA for Tuesday with cattle slaughter down 27K and hog slaughter down 95K from last week. Late…

Date: June 1st, 2021 Livestock futures ended last week mixed with cattle futures under pressure and lower for the week while lean hogs finished the week higher. Cash feedlot trade was done by midweek with trade in the South at $116 to $120, mostly $119 to $120, steady to $1 higher than the week previous Northern dressed trade ranged from $187 to $192, mostly $191, generally steady with week's previous weighted average basis Nebraska. Oklahoma Weekly Cattle Auction Summary Livestock Weighted Average Report for 5/23/2021 - 5/29/2021 Current Week: 31,141 Last Report: 22,325 Last Year: 14,889 Compared to last week: Feeder steers steady to 3.00 higher. Feeder heifers sold 2.00-5.00 higher. Demand very good for feeder cattle as several large strings of cattle were moving…

Date: May 26th, 2021 Livestock futures finished steady to higher yesterday as pressure on the grains allowed feeders to breakout higher. Cash feedlot trade so far this week at steady to $1 lower from last week at $119 to $120 live and $190 on a dressed basis. This kept the lid on live cattle futures advancing yesterday. Slaughter numbers will be down this week ahead of the Memorial Day holiday, although week to date is already higher than last week. Markets are closed next Monday and end of the month trading will be present this Friday which could increase volatility for the balance of the week for all markets. Kingsville Livestock Auction - Kingsville, MO Livestock Weighted Average Report for 5/25/2021 This Week: 2,380 Last…

Date: May 24th, 2021 Livestock futures ended last week holding triple digit gains. Cash feedlot trade this past week steady to just a slightly lower undertone with live trade from $118 to $120, mostly $119, and dressed trade ranging from $188 to $193, most at $191. Beef and pork prices continue to rally with supportive domestic demand and export trade. May Cattle on Feed USDA Average Estimate On Feed May 1 105% 103.7% Placed in April 127% 120.8% Marketed in April 133% 133.6% May cattle on feed totaled 11.7 million head compared to 11.2 million last May but below the 11.8 million in May 2019. April 2021 placements totaled 1.82 million compared to only 1.43 million a year ago and 1.84 million in April 2019.…

Date: May 19th, 2021 Morning Ag Markets – Matt Hines Livestock futures mixed yesterday with higher corn again pressuring feeders, fats holding gains after some steady cash feedlot trade already this week and lean hogs bouncing higher after holding trendline support this week. Cash feedlot trade so far this week started in TX & IA at $119 to $120 live on light volume and yesterday some additional light volume in TX & KS at $119 to $120 live. Cattle slaughter so far looking better than the last couple weeks, maybe we get back to 650K+ week, that would be helpful in holding or exceeding the $120 mark. U.S. beef priced sharply higher this week as Argentina banned beef exports for 30 days to try and…