Author: ploewen

Date: April 8th, 2019 KS and TX cash feedlot trade mostly at $124 live, down another $2 from the week previous, with a few dipping down to $121 live last week. NE trade was steady at $126 live and $204 to $206 dressed with IA trade as high as $128 live. Cattle futures pulled back some on Friday but still held gains for the week while all deferred hog contracts continue sharply higher. We have not seen any additional pork sales to China but the market is sure betting on it as July and August lean hog contracts topped the $101 level on Friday. NATIONAL FEEDER & STOCKER CATTLE SUMMARY – WEEK ENDING 04/05/2019 RECEIPTS: Auctions Direct Video/Internet Total This Week 233,200 92,000 2,000 327,200…

Date: April 3rd, 2019 KS cash feedlot trade going early this week at $121 to $124 live, down another couple dollars from last week, quality and actual origin though in question. April Live Cattle futures still hanging north of $126 with some trade in IA yesterday up to $128 live. All the chatter for hogs was positive yesterday as the market expects continued Chinese demand for U.S. pork with now outbreaks of both Foot and Mouth, Bird Flu being reported in China. Oklahoma National Stockyards Feeder Cattle – Oklahoma City, OK Livestock Weighted Average Report for 04/01/20019 Receipts: 7,405 Last Week: 7,049 Year Ago: 1,912 Compared to last week: Feeder steers steady to 5.00 higher with instances of 8.00 higher on 750-800 lbs. Feeder heifers…

There was a fairly broad range of trade yesterday in the cattle complex as strong gains early in the day gave way to a selloff heading into the close. Live and Feeder futures still managed to close on the plus side in everything, it was just well off their highs. Hog closes were mixed on both sides of unchanged and looked quiet based on the settlements, but there were some $2+ ranges throughout the day. The hog market has a lot still riding on China’s African Swine Fever problems and the potential for continued export interest in US pork as a result, I wouldn’t expect volatility to leave that market anytime soon. The problem with developing too strong a bias on that situation though is…

Date: April 1st, 2019 Cash feedlot trade somewhat disappointing last week yet expected with the dip in futures. NE trade was $126-$126.50 live and $205-$207 dressed, TX at $126 live and KS $125-$126 live. Weekly export sales for beef were disappointing while pork sales were friendly. USDA reported the March Quarterly Hog and Pig Report that would typically be seen as very bearish with 2% higher across the board, but with the African swine fever in China and U.S. pork moving out the market should be able to absorb this continued expansion. NATIONAL FEEDER & STOCKER CATTLE SUMMARY – WEEK ENDING 03/29/2019 RECEIPTS: Auctions Direct Video/Internet Total This Week 258,700 68,700 2,000 329,400 Last Week 256,100 90,300 28,800 375,200 Last Year 164,900 37,000 0 201,900…

Date: March 27th, 2019 Another day of mixed to weaker trade for the cattle and hogs yesterday while grains finished in the red across the board. Only some light cash feedlot trade so far this week in the north at steady to $2 lower than a week ago and few sales reported in KS at $126 live, also $2 lower. Fed Cattle Exchange online auction later this morning with 500 head consigned compared to last week’s 596 head of which none sold. Tulsa Livestock Auction - Tulsa, OK Feeder Cattle Weighted Average Report for 03/25/2019 Receipts: 2696 Last Week: 2568 Year Ago: 1722 Compared to last week: Feeder steers 4.00-6.00 higher. Heifers 3.00-5.00 higher. Quality plain thru attractive. Demand good. Slaughter cows 9.00 lower. Slaughter…

The start of the week was a day filled with ups and downs in the meat complex. Thursday and Friday provided strong gains with Friday really stout in everything, so the expectations were friendly going into yesterday. Things started out a little rocky, but as the day progressed, hogs were right back on the bullish warpath and the majority of the live and feeder cattle contracts settled higher as well, but not all of them. Lean hog futures are still trading the euphoria of the huge export sales tally to China from last week. Front end April futures have almost gained $20/cwt after posting contract lows on the 20th of February. $13 of that run has come in just the last seven days. New contract…

Great closer to end the week on Friday with almost the entire ag sector on the plus side of unchanged and some of the gains were impressive. The leader of the pack was the hog market that was still obviously trying to digest the big news from Thursday’s export sales of 53,000 mt’s and 23,800 of that total going to China. That was a monster total, it happened with tariffs still in place against those purchases and I think it really drove home the point that ASF in China has had a legitimate impact on their pork production. It has been reported that China’s hog herd at the end of February was down 16%+ from a year ago. It was also estimated that they could…

Date: March 13th, 2019 Support levels broke for live cattle futures yesterday sending them and feeders triple digits lower for the day. The nearby April live cattle contract finished with its largest daily loss. Beef prices higher again yesterday, higher everyday actually in March with Choice cutouts up over $8 this month. Hog futures held small gains though as the rally continues for the 4th trading day in a row and 7 out the past 8 days higher for the month. Cash feedlot trade so far only a few hundred head in the North at $204 to $205 on a dressed basis, steady to a slighter weaker undertone. The Fed Cattle Exchange online auction later this morning with 755 head consigned compared to last week’s…

Date: March 12th, 2019 Cattle futures traded lower yesterday while hogs continued sharply higher. Pressure first hit the cattle futures from the opening bell as anticipation was built up for higher cash feedlot trade last week. Cash prices continue to climb for hogs as well as pork prices providing support as well as Chinese hog prices hitting new 14-month highs, up over 20% this month alone. Oklahoma National Stockyards - Oklahoma City, OK Livestock Weighted Average Report for 3/11/2019 Receipts Week Ago Year Ago 15,000 2,163 9,169 Compared to last week's light test: Feeder steers mostly 1.00-3.00 higher. Feeder heifers steady to 4.00 lower. Feeder steers and heifers mostly steady to 4.00 lower from a full test two weeks ago. Steer and heifer calves 2.00-7.00…

Date: March 11th, 2019 Plethora of reports on Friday from USDA. First Cold Storage as of Jan 31 with total red meat in freezers down 1% from last year. Total beef in freezers was up 2% from last year but total frozen pork was down 3% from a year ago. Next was the February COF report which was friendly. Cattle on Feed Feb 1 at 100% vs. a year ago, January Placements at 95% and January Marketings at 103%. Third and final was the supply and demand updates with total U.S. red meat and poultry production for 2019 lowered from the previous month as lower forecast beef and turkey production more than offsets higher pork production. Cash feedlot trade steady to firm compared to a…