Author: ploewen

Date: April 3, 2024 Cattle futures were able to regain a portion of Monday’s sharp losses, while lean hogs continue to chop sideways. Cash feedlot trade still yet to develop this week. Salebarns are still seeing good volume, especially from KS north as grass cattle buyers are still in the market. The biggest price driver for the futures market continues to be related to avian flu. The reported positive samples in unpasteurized milk samples last week rocked the markets for few days. Monday’s news that sent fats and feeders $5 to $7 lower was that an employee at one of the TX dairies tested positive for same flu strain. He was being treated with only minor eye irritation and this strain is not spreading within…

Date: March 6, 2024 Turnaround Tuesday with cattle futures higher after cautious trading on Monday and all grains lower after decent gains to start the week. Cash fed cattle trade so far this week only very light volume reported in IA at $183 live, steady with last week. Cash hogs and pork prices collapsed yesterday pressuring lean hog futures lower. Feeders and calves continue to show strength as we get closer to spring and green grass. Choice boxed beef now comfortably over the $300 level for over a week. Outside markets were not helpful on Tuesday with energies steady to lower and equities sharply lower. Kingsville Livestock Auction - Kingsville, MO Livestock Weighted Average Report for 3/5/2024 - Final This Week: 2,627 Last Week: 2,781…

Date: March 5, 2024 Livestock futures spent most of the day in the red on Monday with nearby fats and all feeders finishing triple digits lower. All contracts posted losses yesterday except for deferred lean hogs. Grains were higher to begin the week and steady to lower cash fed cattle trade last week providing the pressure or cautious start to this week. Last week's negotiated cash cattle trade totaled 71,697 head with 79% committed to the nearby delivery and 21% committed to the deferred delivery. Southern live cattle sold for mostly $183, steady with the previous week's weighted average, and Northern dressed cattle traded at mostly $290, $2 lower than last week's weighted average. NATIONAL FEEDER & STOCKER CATTLE SUMMARY - WEEK ENDING 03/02/2024 RECEIPTS:…

Date: February 28, 2024 Another fairly quiet day in the livestock sector during yesterday’s session. Cattle started the day off mixed with not much movement on either side of unchanged, and at one point during the morning fats and feeders were all higher in the face of a higher corn market. But as the day went on, they struggled to find a sense of direction and live cattle finished with slight losses and feeders ended lower in just two of the nearby contracts and a little bit higher in the rest. Aside from the April live cattle contract, Feb through the deep deferreds into the April 25 contract did make it up to new recent highs yesterday. May feeders did the same by just one…

Date: February 14, 2024 Cattle futures pulled lower on Tuesday after hitting or near new recent highs again on Monday. Only very light volume cash fed cattle trade reported in the North at $180 live. Last week’s trading ranged from $180 to $182 live and $285 to $289 dressed. Beef prices were lower and corn steady to higher which led to the cautious trading for cattle futures. Joplin Regional Stockyards Feeder Cattle - Carthage, MO Livestock Weighted Average Report for 2/12/2024 - Final This Week: 13,125 Last Week: 15,578 Last Year: 9,452 Compared to last week feeder steers sold 4.00-9.00 higher. Feeder heifers sold 4.00-12.00 higher. Supply was heavy with very good demand. 7 weight index steers averaged $244 to $253 and 8 weights averaged…

Date: February 5, 2024 Livestock futures last Friday finished mixed on fairly quiet trading but week over week gains were locked in earlier from the friendly Cattle Inventory report. Live cattle and feeders continue to make new recent highs led by feeders as most contracts now eclipsing the 62% retracement levels from the sharp losses earlier this fall. Cash fed cattle trade last week was $2 to $3 higher than the week previous with trade in TX and KS done at $178 to $179 live and trade in the North from $176 to $179 live and $280 dressed. The CFTC Commitment of Traders report for the week ending January 30th showed funds buying 12,644 live cattle contracts and net long 30,016 contracts while buying 2,644…

Date: January 31, 2024 Livestock futures on Tuesday all finished higher yet somewhat cautiously. Beef prices fell off and the recent weakness could keep packers from paying higher money this week. Cash trade has yet to develop. The biggest news of the week will the Biannual Cattle Inventory from USDA after the close today. It is anticipated to show total inventory still below a year ago, primarily fewer beef cows, and the continuation of liquidation. This will be supportive to the cattle market but may not rocket futures higher as both fats and feeders have already gained back 50% from the steep losses this past fall. Joplin Regional Stockyards Feeder Cattle - Carthage, MO Livestock Weighted Average Report for 1/29/2024 - Final This Week: 11,315…

Date: January 8, 2024 Livestock futures mixed to finish out the week but early week strong gains in cattle futures helped to push both fats and feeders higher week over week. Negotiated cash fed cattle trade as of mid-afternoon Friday was very light in TX and KS and $172 live, steady to $1 lower than the week previous. Northern trade was reported throughout the week at better volume from $173 to $175 live and $274 to $278 dressed, all steady to $2 higher than the week previous. Weekly closes for livestock futures and meats…February Live Cattle +$2.07, April +$1.15, January Feeder Cattle +$.82, March +$1.05, February Lean Hogs +$2.02, April +$1.52. Choice Boxed Beef -$12.55 at $277.16 and Pork Carcass Cutout -$.56 at $84.20. No…

Date: December 27, 2023 Selling pressure only lasted for a few hours for cattle futures while lean hogs held losses into the close on Tuesday. The bearish cattle on feed report kicked feeders triple digits lower at the open but that was quickly tossed aside as trading volume was light and support from higher cash fed cattle trade last week won out. December live cattle will expire at the end of the week and converged with cash last week at $170. I would expect we try to hold steady this week as well but no bids or offers have been reported yet. NATIONAL FEEDER & STOCKER CATTLE SUMMARY - WEEK ENDING 12/23/2023 RECEIPTS: Auctions Direct Video/Internet Total This Week: 103,100 36,300 1,300 140,700 Last Week:…

Date: December 26, 2023 Livestock futures mixed to finish out the week with cattle futures holding gains week over week and lean hogs lower. Negotiated cash fed cattle trade as of mid-afternoon Friday reported $1 to $3 higher than the week previous from $170 to $171 live and $270 to $271 dressed. Slightly bearish Cattle on Feed report from USDA after the close on Friday. Cattle and calves on feed totaled 12.0 million head on December 1, 2023, up 3% from a year ago and 1% over expectations. Placements in feedlots during November totaled 1.87 million head, 2% below last year but 2% higher than expectations. This is the fourth consecutive month with higher placements than expected. Marketings of fed cattle during November totaled 1.75…