Author: ploewen

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…

Date: March 6th, 2019 Lean hog futures continued to build upon recent support, now up over $5 from recent lows. Cattle futures were mixed with fats holding small gains while feeders were pressured lower and finishing near their daily lows. Light cash feedlot trade again to start the week in the Western Cornbelt at $127 to $128.50 live and $204 to $205 on a dressed basis, steady to $1 higher than last week’s trade. Fed Cattle Exchange online auction later this morning with only 300 head consigned. Oklahoma National Stockyards - Oklahoma City, OK Livestock Weighted Average Report for 3/4/2019 Receipts Week Ago Year Ago 2,163 7,556 7,029 Compared to last week: All classes of feeder cattle and calves were too lightly tested for an…

Meat complex futures trade on Monday was an oddly erratic in the feeders and hogs. For the lean hog futures it was up on the front two months and down on all the deferreds. Feeders were down on the front two months and up on all the rest with some of those back months trading close to or over $1 higher at the finish. Live cattle were down across all contract months with the front end April losing over $1. The strange part of that weakness in the April fats though was talk that there were renewed bids at steady money with last week on the feedlot end and Friday’s cash included a $2 jump from the previous week up to $128. There was also…

Date: March 4th, 2019 Livestock markets finished the week mixed. Live cattle continue to be supported as winter weather continues to hamper most feeding areas, beef prices continue to climb higher and packers had to pay up to meet demand needs. Fat cattle trade last week was steady to $3 higher than the week previous at $128 to $129 live and $205 on a dressed basis. There was some unconfirmed trade as high as $130 live for delivery in late March. Feeders continue on a sideways to lower trend with a calf cash market ready to explode higher once weather clears up and procurement for grass cattle picks up. The January 1 Cattle Inventory Report was released Thursday afternoon with all cattle and calves total…