Author: ploewen

Crazy start to the week’s trade in the commodity world. Coming off of Saudi oilfields being bombed over the weekend, crude oil posted one of its biggest jumps in history and trade volume that was the largest since 2008. We were also still relishing in the China news from last week that they weren’t going to impose the latest round of tariffs on US Ag products. That brought a surge of buying into the hog futures last week and soybeans pushed hard to the upside as well. Ag market trade was a lot more subdued yesterday than a lot of the outside markets. Grain and oilseed trade was up, but not by much. Meat complex trade was mostly lower in the live and feeder cattle…

Date: September 16th, 2019 Cash feedlot trade was light through Friday afternoon at $99 to $100 live in the South which is steady with the week previous and $159 to $160 dressed in the North which is steady to $3 lower. Lean hogs have been the leader for livestock futures with gap higher and limit moves the past two trading sessions as export trade looks to pick up. China announced they will not place the last round of additional tariffs on both U.S. pork and soybeans. NATIONAL FEEDER & STOCKER CATTLE SUMMARY – WEEK ENDING 08/13/2019 RECEIPTS: Auctions Direct Video/Internet Total This Week 176,400 73,500 122,000 371,900 Last Week 106,800 58,100 14,700 179,600 Year Ago 184,400 60,400 44,800 289,600 Compared to last week, steers and…

Date: September 4th, 2019 Corn and wheat futures sharply lower after the long 3-day holiday weekend, feeder cattle and lean hogs triple digits higher and the soy complex traded mixed throughout the day to finish steady. There continues to be trade and demand uncertainty for both the grains and livestock but holding near the lows these past couple weeks and finding some support for cattle and hogs as renewed some buying interest. Lean hog futures have started the run higher breaking the short term lower trend with Tuesday’s limit move higher, but as bipolar as they act it would be good to see both live and feeder cattle futures take out last week’s highs before getting real excited. Cash feedlot trade so far this week…

Date: September 3rd, 2019 Cattle contracts reversed lower on Friday while lean hogs continue to trade choppy but still holding the lower trend. Cash feedlot trade started early last week at $108 to $110 live in the North, which was steady with the week previous, but faded as the week progressed. In the South, trade was reported at $103 live, $3 lower than the week previous. Dressed trade in the North to end the week ranged from $165 to $172, $3 to $10 lower, and $104 to $106 live, down $2 to $4. Slaughter levels are still higher than before the plant fire, but beef prices have pulled back some from recent highs. NATIONAL FEEDER & STOCKER CATTLE SUMMARY – WEEK ENDING 08/30/2019 RECEIPTS: Auctions…

The current trend of below normal temps across the Corn Belt and below normal in the extended runs still has the chatter picking up about average frost and freeze dates across the states that have crop progress the farthest behind. Ironically, that encompasses the entire Corn Belt as well as the fringe areas joining it, although the most critical areas are north, west and eastern parts of the Belt. Not sure whether that helped create some of the support yesterday or not, but it’s certainly going to be watched closely as we creep closer to fall. When you look at the top five corn producing states in the US, percent dough in Illinois corn is 19% behind the 5 year average, Iowa is 14% behind,…

Date: August 28th, 2019 Livestock futures traded mixed yesterday but finished lower. The Monday gains and renewed optimism over resolving the trade war with China has faded yet again. Cash feedlot trade still quiet in the South with light trade in the North at $109 to $110 live and $173 on a dressed basis, mostly steady to slightly weaker than a week ago. The Fed Cattle Exchange online auction will be held later this morning with 734 head consigned. Hog futures remain under pressure with pork prices down 12 consecutive days now, cold storage building and African swine fever still spreading in Asia and Europe. OKC West Livestock Auction - El Reno, OK Livestock Weighted Average Report for 8/27/2019 – Final report including feeder cattle…

Date: August 27th, 2019 President Trump met with other world leaders over the weekend at the G7. The U.S. and Japan have agreed in principle to the core elements of a trade deal that does not require congressional approval like the USMCA deal that is on hold in the U.S. House. Japan has promised to purchase more beef and corn. The market mover though to start the week was the administration stating that the Chinese called and asked to get back to the table and stating they are willing to resolve the trade dispute. This turned the limit lower hogs from Friday to hit the expanded limit higher yesterday. Cattle futures held triple digit gains throughout the day with additional support from a friendly Cattle…

Date: August 26th, 2019 The additional round of tariffs announced by China and possibly a cancellation of the upcoming September meeting pressured all the markets to end the week. Lean hogs and soybeans of course under the most pressure. Cash feedlot trade in the South was reported at $106 live, $1 higher than the week previous. Dressed trade in the North was mostly $3 higher at $175, some deferred delivery up to $178 and live trade at $108 to $110, steady to $2 higher. After the close a friendly Cattle on Feed report compared to pre report estimates with Aug 1 on feed at 11.1 million head, 100.2% vs. a year ago, still the largest ever on feed for August 1st. July placements totaled 1.71…

Date: August 21st, 2019 Livestock trade was sharply higher again Tuesday, but yesterday’s triple digit gains held for live cattle, feeders still slipped back from $2+ higher to finish with small gains. Lean hogs held decent gains but still holding a lower trend. Salebarn activity is picking back up after the market collapsed last week but still slow with triple digit heat this week. Cash feedlot trade at a standstill so far this week with larger showlists reported available. The Fed Cattle Exchange online auction will be held later this morning with 426 head consigned. OKC West Livestock Auction - El Reno, OK Livestock Weighted Average Report for 8/20/2019 – Final report including feeder cattle will be released later today Calf Receipts: 700 Last Week…

Date: August 20th, 2019 Livestock trade was steady to higher to start this week. Cattle futures opened higher, fats ran $1+ higher and feeders $2+ higher in the morning hours but both faded as the day progressed. Lean hog futures opened higher and proceeded to add value throughout the trading session. Beef packer margins continue to climb and provide incentive to ramp up the chainspeeds along with another active weekend schedule. Joplin Regional Stockyards Feeder Cattle - Carthage, MO Livestock Weighted Average Report for 8/19/2019 Total Receipts: 1,749 Last Week: 2,533 Last Year: 5,170 Compared to last week, steer and heifer calves steady on a limited test, yearling steers 1.00 to 2.00 higher, yearling heifers steady. Demand moderate to good, supply light. Oklahoma National Stockyards…