Author: ploewen

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…

Date: February 27th, 2019 Livestock futures firmed yesterday as grains fell under additional pressure. Showlists this week are larger with carryover from last week’s low volume cash feedlot trade. Packers slowed chains significantly the past couple week’s providing a pathway that prevents them from pushing the cash market sharply higher. Only a few hundred have traded thus far at $126 live and $203 on a dressed basis in the North which is steady to $1 higher than last week. The Fed Cattle Exchange online auction to be held later this morning with only 287 head consigned compared to last week’s 693 head of which 323 sold at $125 live out of KS. China's current African swine fever epidemic has now pushed the government to testing…

Monday was a sour start to the week for the lean hog contracts once again. Following a decent rebound on Thursday and Friday from last week’s heavy bleeding, a lot of folks thought maybe there was a chance the damage was over, but that wasn’t the case. The front five contact months in hogs were down triple digits and then the heavy losses tapered off. Live and feeder cattle spent time on both sides of unchanged and finished with the front month lower and all the back months higher. Cattle on Feed numbers from Friday definitely had a friendly bias with placements coming in under the estimates by several points, but the lack of negotiated cash feedlot trade cast a little doubt into the market.…

Date: February 25th, 2019 Only light cash feedlot trade in the Western Corn Belt at $127 to $128 live and $202 dressed through Friday afternoon. This is a solid $2 higher than the week previous yet such little volume and nothing in the South. After the close, USDA updated Cattle on Feed as of January 1 at 11.7 mln head which was in line with expectations at 102% vs. a year ago. Placements were friendly coming at 98% vs. an expected 101% but may have little impact due to delay in the data. December Marketings were in line at 99% compared to a year ago. Placements by State (versus previous year) Iowa at 85%, Kansas 99%, Nebraska 89%, Texas 106%, South Dakota 156%, Oklahoma 67%…

Date: February 20th, 2019 Triple digit gains for cattle futures but lock limit down $3 for lean hogs. Support broke and crashed the hogs into new contract lows along with rumors spiraling out of control on social media that Canada may now have their first case of African swine fever. Over the weekend, the disease spread into new areas of China, Vietnam and Romania for the first time and traces were also detected in frozen food supplies with a massive recall by a Chinese food manufacturer. Cash feedlot trade only minimal so far this week at $124.50 live. The Fed Cattle Exchange online auction will be held later this morning with 693 head consigned compared to last week’s 785 head of which none sold. Tulsa…

Date: February 19th, 2019 Cash feedlot trade held only steady last week at $125 live and $199 to $200 on a dressed basis in the North. Cattle futures were weaker last week with fats pressing the higher trend line and feeders still holding a lower trend so far this year. Lean hog futures finished higher for the week with the February contract expiring, April still holding a lower trend but June gapping higher and holding above the $76 level. NATIONAL FEEDER & STOCKER CATTLE SUMMARY – WEEK ENDING 02/15/2019 RECEIPTS: Auctions Direct Video/Internet Total Last Week 223,800 78,200 3,600 305,600 This Week 259,700 56,100 22,300 338,100 Last Year 238,000 62,900 2,200 303,100 Compared to last week, steers and heifers sold 2.00 lower to 2.00 higher…

Date: February 6th, 2019 Feeders and hogs had an inside trading day yesterday after the triple digit gains Monday while live cattle futures look the healthiest building on small gains after finding support last week just below $125 and continuing the higher trend. Only a few hundred head of fat cattle have traded thus far this week in IA at $197 to $198 dressed. The Fed Cattle Exchange online auction later this morning only has 294 head consigned after the last couple weeks of decent numbers but little to no movement. It wouldn’t surprise me to see higher cash feedlot trade this week with a jump in beef prices, increased volume in exports, smaller show lists and an expectation for slaughter volume to move higher…

Date: February 4th, 2019 The only cash feedlot trade to confirm by the close on Friday was at $198 to $199 dressed in the North which was $1 to $2 higher than the previous week. All bids at $122 live in KS and TX were passed which worked out for feedlots with packers paying $123 to $124 live in both late on Friday. Packers continue to slow down the chains with only 593K head killed last week compared to 610K head the week prior. NATIONAL FEEDER & STOCKER CATTLE SUMMARY – WEEK ENDING 02/01/2019 RECEIPTS: Auctions Direct Video/Internet Total This Week 210,700 53,900 3,500 268,100 Last Week 186,800 35,500 32,100 254,400 Last Year 282,200 43,700 1,000 326,900 Compared to last week, steers and heifers sold…

Date: January 30th, 2019 Fairly tight daily ranges yesterday for livestock futures with a mixed finish. The recent snowstorms and extreme cold temps along with firm beef prices continue to be supportive. There just wasn’t a lot of buyer interest to sustain a decent rally yesterday for live cattle. Feeders continue to trend lower and lean hogs continue to collapse sharply lower into yet again new recent lows yesterday. Oklahoma National Stockyards - Oklahoma City, OK Livestock Weighted Average Report for 1/28/2019 Receipts Last Reported Year Ago 10,629 4,489 7,501 Compared to last week: Feeder steers sold 2.00-6.00 higher. Feeder heifers 2.00-4.00 higher. Steer and heifer calves sold mostly 5.00-6.00 higher. Demand good to very good. Quality average to attractive with an abundance of uniform,…