Author: ploewen

Date: May 1st, 2019 Cattle futures continued lower yesterday while hogs were mixed. Cash feedlot trade already going this week with decent volume in TX and KS at $123 live yesterday. Only a light volume so far in the North at $124 to $128 live and $198 to $200 on a dressed basis, but hearing reports some of these for delivery 2-3 weeks out. The Fed Cattle Exchange online auction will be held later this morning with 837 head consigned compared to last week’s 461 head of which 124 sold at $127. Joplin Regional Stockyards Feeder Cattle-Carthage, MO Livestock Weighted Average Report for 4/29/19 Receipts: 5,042 Last Week: 5,243 Last Year 6,931 Compared to last week, steer and heifer calves unevenly steady, yearlings 4.00 to…

The relentless pounding of the feeder cattle market continued with another round of triple digit losses yesterday in most contract months. The exception was the front end May future that were already close to $9 discount to the next month going into the day. In the August feeder contract, since life of contract highs were made just 7 days ago at $161.40, prices have dropped more than $10 with $8.62 of that coming in just the last four sessions. By comparison, the June live cattle, which is also the second month out, is more than $10 off it’s high as well, but that contract high for June was back in mid-March. The last four sessions in that contract have taken $6.32 off of price. There…

Date: April 29th, 2019 Cash feedlot trade last week got going midweek in TX and KS at mostly $125 to $127 live. Peak to peak that is $1 higher than the week previous, but most of the volume reported would be considered at steady money. Trade in the North followed at mostly $127 live and $206 dressed which is steady to a few dollars lower than the week previous. Livestock futures overall took a big hit last week as the market expects lower cash trade moving forward. NATIONAL FEEDER & STOCKER CATTLE SUMMARY – WEEK ENDING 04/26/2019 RECEIPTS: Auctions Direct Video/Internet Total This Week 193,900 73,300 1,300 268,500 Last Week 199,400 86,400 45,400 331,200 Year Ago 234,500 58,100 3,600 296,200 Compared to last week, steers…

Date: April 24th, 2019 Livestock futures were mixed yesterday while wheat bounced off new contract lows to finish higher but corn and soybeans remained under pressure. Lean hog futures continue to bounce around with additional outbreaks of African swine fever in China even though they stated it was under control recently. Cattle bids started to surface at $130 live but no activity yet. The Fed Cattle Exchange online exchange later this morning with 461 head consigned compared to last week’s 1,578 head consigned of which 1,269 head from Nebraska sold for delivery 1-17 days out at $127. Oklahoma National Stockyards – Oklahoma City, OK Livestock Weighted Average Report for 04/22/2019 Receipts: 7,715 Last Week: 5,697 Year Ago: 4,952 Compared to last week: Feeder steers and…

Well, this is two COF reports in a row now that the market hasn’t faded the data when it opens on the first trading day following the release. Last Thursday’s numbers were mildly bearish versus the expectations and moderately bearish in the big picture data. The On Feed total was 2% larger than last year. Placements were up 5% and marketings were down 3%. That marketing total came in just a shade better than the estimates, but the Placements and On Feed numbers were both worse than the estimates which led to the overall bearish undertone. Cattle complex futures spent the day on the south side of unchanged and finished with two contracts more than $1 lower in live cattle futures and everything in feeders…

Date: April 22nd, 2019 Higher cash prices were delivered to Kansas and Texas where cattle sold for $126. The Texas sellers took the first bid out of the box and Kansas soon followed. Prices were $2 higher than last week. The Fed Cattle Exchange online auction sold several pens of cattle in Nebraska for $127 but northern sellers were not quite ready to call it a day and most sellers were holding for $130. To wrap up the week, NE did trade $129 to $130 live and $207 to $208 on a dressed basis, $2 to $4 higher than the week previous. Beef and pork weekly export sales were both bullish Thursday morning, China in for another 23,500 MT of pork. Cattle on Feed report…

Date: April 17th, 2019 Cattle futures were mostly higher yesterday with lean hogs and all the grains lower. Light volume trading in the cash feedlot market so far this week at $126.50 to $129 live. Futures volume was fairly light yesterday but buyers stepped into support the market. Joplin Regional Stockyards Feeder Cattle-Carthage, MO Livestock Weighted Average Report for 4/15/2019 Receipts: 5,158 Last Week: 5,934 Last Year: 5,734 Compared to last week, steer calves steady, heifer calves 2.00 to 4.00 higher, yearlings steers steady to 3.00 higher, yearling heifers steady. Demand good, supply moderate. The percentage of new crop calves in the offering continues to grow. Oklahoma National Stockyards Feeder Cattle-Oklahoma City, OK Livestock Weighted Average Report for 4/15/2019 Receipts: 5,697 Last Week: 6,208 Last…

It was a fairly quiet start to the week for the live cattle trade with ranges from high to low of less than $1 in everything. Feeders traded in a moderately broader range, but the closes in the cattle complex were all just quietly higher, aside from the front month April fats that were in the red. Hogs finished on the plus side in everything but the June contract with ranges from high to low that were pushing out close to $2, so the volatility was definitely still present despite the lackluster net changes at the finish. In the pork market, a new record one week export sales tally was posted last week in Thursday’s data with over 90k mt’s in total sales and 70k+…

Date: April 15th, 2019 KS and TX cash feedlot trade was steady this past week at $124 live. Trade in the North also steady at $127 to $128 live and $203 to $204 on a dressed basis. Lean hogs were sharply lower early in the week but came back to end the week supported by another round of high volume pork sales to China. NATIONAL FEEDER & STOCKER CATTLE SUMMARY – WEEK ENDING 04/12/2019 RECEIPTS: Auctions Direct Video/Internet Total This Week 190,400 53,800 72,800 317,000 This Week 233,200 92,000 2,000 327,200 Year Ago 205,400 53,300 18,600 277,300 Compared to last week, steers and heifers sold uneven; 2.00 lower to 2.00 higher. New crop fall calves have been noticed at auctions this week with many unweaned…

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…