Author: ploewen

Date: June 1st, 2020 Negotiated cash feedlot still somewhat sparse and spread out throughout the week. KS and TX trade ranged from $115 to $120 live but the bulk of the trade was at $115 which is $5 lower than the week previous. Trade in NE was steady from $112 to $120 live and $190 dressed. New unemployment claims last week totaled 2.1 million Americans bringing the total from mid-March up to 40.8 million. Those collecting for more than 2 weeks though was down 3.86 million to now a total of 21.05 million Americans. NATIONAL FEEDER & STOCKER CATTLE SUMMARY – WEEK ENDING 05/29/2020 RECEIPTS: Auctions Direct Video/Internet Total This Week: 138,200 42,000 57,600 237,800 Last Week: 204,800 51,200 1,800 257,800 Year Ago: 91,200 24,400…

Date: May 27th, 2020 Livestock futures were triple digits higher after the long 3-day weekend with feeders limit higher. Chainspeeds continue to increase for both cattle and hogs with higher cash prices traded again last week. The cattle on feed report was also friendly to end last week. Futures look to continue to improve so long as slaughter rates continue to get back to 100% capacity. Light volume cash feedlot trade so far this week steady with last week in KS at $110 to $120 live, NE $112 live and $190 dressed and IA from $174 to $190 dressed. The Fed Cattle Exchange online auction will be held later today with 1,164 head consigned compared to last week’s 2,782 head of which none sold. Ozarks…

Date: May 20th, 2020 Livestock futures were flat to mostly lower on Tuesday. Cash feedlot trade began in Nebraska steady with last week so far at $115 to $120 live and $180 to $190 dressed. The Fed Cattle Exchange online auction will be held later today with 2,782 head consigned compared to 4,601 head last week of which 1,272 head sold at $110 live. U.S. Secretary of Agriculture Perdue announced details of the Coronavirus Food Assistance Program (CFAP), which will provide up to $16 billion in direct payments to deliver relief to America’s farmers and ranchers impacted by the coronavirus pandemic. Direct payments will be based on a portion of inventory on hand as of January 15th. In addition to this direct support to farmers…

Cattle complex futures pushed solidly higher once again yesterday, posting triple digit gains in three of the front four months in live cattle and the front three in feeders. Everything else was higher, but didn’t quite hit the $1 mark. Since the first day of May that has meant just short of $10 up in spot May feeder cattle futures and just over $11 higher in live cattle. Futures have been the slow runner in the race to higher ground though, because we’re up $15 in cash feedlot trade since the first of the month. The weighted average for last week’s cash, rounded up to the nearest $1 was $114 for steers and $112 for heifers in Kansas, $110 for steers and $117 for heifers…

Date: May 18th, 2020 Thank you Duane and good morning. Lets’ take a look at last week’s trade in the livestock and grain markets, and see what’s going on here today. Cash feedlot traded midweek at $110. Tyson paid up to $115 in Kansas on Thursday. Texas mandatory price reporting showed some $117.50. Nebraska dressed trade ranged from $170-$185. By the end of the week though, cash trade continued to climb up to $120 live and $190 dressed for some additional light volume on Friday. The weekly unemployment report added another nearly 3 million new claims bringing the COVID-19 total up to 36.5 million people and talk now that we may hit nearly 25% unemployment before getting the economy back up and running. COVID-19 continues…

Date: May 6th, 2020 Tuesday’s futures trade was fairly quiet and uneventful for both livestock and grains. Outside markets were mixed but mostly supportive with equites higher and energies holding gains throughout the day. Cattle futures were mixed to mostly lower while lean hogs were triple digits lower. Beef and pork prices continue to scream higher as packers are trying everything possible to stay open and speed back up the chains. So far it has only been limited success as additional plants close with the first few trying to start back up this week. For many that have remained open, we are seeing the return of previously positive Covid and quarantined employees which is extremely good news. Beef and pork will continue higher until we…

It was a good start to the week for the meat complex with green across the screen from top to bottom in live cattle, feeders and the lean hogs. Hogs caught a huge surge on the front months and had triple digit gains across everything at the close. Feeder cattle were up triples on almost every month and fats were just mildly higher. Watching the situation unfold regarding plants closing down or just slowing down tremendously over covid and the bullish ramifications of that on product trade and negative impacts it has had on cash trade is disheartening, but it’s also fundamentally very logical as well. The pinch point, or bottleneck in the meat chain only exists at the front door of the packing plant…

Date: April 28th, 2020 Equities higher to start the week along with most livestock futures. Cattle futures trading mostly higher yesterday with lean hogs limit higher but the newswire watching continues for the next hotspot or packing plant closure. OSHA just released guidelines to space employees at least 6 feet apart, checking temps and provide face masks yet it is too late for many employees. This has caused many plants of course to slow the chains but even worse has many to shutdown as those are now some of the main hotspots for COVID in the U.S. Cash feedlot trade on Monday reported from KS at $100, even with last week on a few loads. Joplin Regional Stockyards Feeder Cattle - Carthage, MO Livestock Weighted…

Date: April 27th, 2020 Cattle futures finished mixed again last Friday but mostly lower for the week. Cash feedlot trade very minimal as kill slots are at a minimum with only 469K head slaughtered last week compared to pre pandemic levels of 600 to 650K. TX and KS both reported live sales at $100, down $3 from the week previous but a wide range from $93 to $105. Dressed trade also in a wide range from $148 to $160 in NE. April 1 Cattle on Feed as expected at 95% but friendlier March placements at 77% and marketings at 113% vs. a year ago. The 5-week total now for unemployment up to 26 million new claims, 4.4 million new claims added last week. NATIONAL FEEDER…

Date: April 22nd, 2020 Livestock futures remain under pressure as chainspeeds continue to reduce and/or slaughter plants shutdown due to COVID-19 hot spots within employees at the plants. Cash trade this week could be very limited again or near zero as all kill slots are taken from forward contracting obligations. The Fed Cattle Exchange online auction will hold its weekly sale later this morning after postponing to Friday last week. This week there are 4,671 head consigned compared to last week’s 5,778 head of which 898 head sold at $105 live for delivery 1 to 17 days out. Based off last Friday’s close that is still a positive basis of $9.50 for any hedged fats. Ahead of this Friday afternoon’s monthly USDA cattle on feed…