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Date: May 15th, 2023 Livestock futures finished the week triple digits higher and for the week while lean hogs were steady to higher. Weekly export sales in the meats were in neutral territory for beef and friendly for pork, just not as bullish as the past couple weeks. Negotiated cash fed cattle trade was again weaker this past week with trade in the South at $170 live, $2 lower than the week previous. Trade in the North at $176 to $177 live, $1 to $3 lower and dressed trade at $280, $1 lower than the previous week. USDA updated the meats balance sheets with 2024 beef production published for the first time and projected at 24.813 million pounds, the lowest since 2015, which was the…

Date: May 10th, 2023 All livestock futures finished triple digits higher on Tuesday. Corn under heavy pressure helped spark the rally in feeders. Only light volume negotiated cash fed cattle in the WCB to report so far this week at $177 live and $277 dressed, steady to $3 lower than last week. New contract lows for June lean hogs but then a key reversal higher for the day. There has been more interest in cash hogs recently, which is supportive, along with stellar pork export sales the past few weeks. Oklahoma National Stockyards Feeder Cattle - Oklahoma City, OK Livestock Weighted Average Report for 5/8/2023 - Final This Week: 8,319 Last Week: 6,770 Last Year: 6,532 Compared to last week: Feeder steers steady. Feeder heifers…

Cattle complex futures continued in their effort to bounce higher yesterday. Live cattle finished the session mild to moderately higher. Feeders were up over $1 in everything except for the front month May contract and it wasn’t far off that mark. After losing $3.55/cwt last week on the front month June live cattle, steady to only mildly lower Southern Plains cash feedlot trade didn’t feel as bad as you’d think. When April futures went off the board it was trading double digits premium to the June and then June promptly lost $4-$5 to widen the gap between cash and futures even more. Hedged cattle are enjoying the much wider than normal basis for May sales, but the size of the drop in futures still has…

Date: May 8th, 2023 Livestock futures last Friday were mixed but week over week changes were all sharply lower. Lean hogs hit the hardest on Friday, making new contract lows. Live cattle made new recent lows midweek while feeders charged lower again Friday for new recent lows. Negotiated cash fed cattle trade still pulling back. Trade in the South done early in the week mostly at $172 live, $1 lower than the week previous. Trade in the North ranging from $172 to $178 live and mostly $281 dressed, $1 to $3 lower than the week previous. Weekly closes for livestock futures and meats…June Live Cattle -$3.55, August -$4.27, May Feeders -$8.45, August -$9.30, June Lean Hogs -$7.92, July -$8.25. Choice Boxed Beef -$2.25 at $309.19…

Date: May 3rd, 2023 Cattle futures sharply lower yesterday, feeders breaking through nearby support levels, while lean hogs remain steady to higher. Cash fed cattle trade already began to develop at $172 live in TX and KS and $281 dressed in NE which is a $1 to $3 lower than last week. This provided the opportunity for sellers to jump in heavy on the futures yesterday. It also didn’t help that equites were hit hard yesterday as well. Seasonally, May is not a supportive month for cattle futures, but most felt this year would be different as we hit new all-time highs last month and bullish fundamentals are still in place. Oklahoma National Stockyards Feeder Cattle - Oklahoma City, OK Livestock Weighted Average Report for…

Date: May 1st, 2023 Cattle futures finished the week lower but most contracts still held week over week gains while lean hogs were triple digits higher last Friday and $5 higher for the week. Weekly export sales for beef were bearish at only 9,500 MT, but pork sales were a new marketing year high at 54,000 MT helping support the rally in hogs last week. Negotiated cash fed cattle trade off $2 to $5 from the week previous with trade in the South at $173 live and in the North from $176 to $180 live and $280 to $286 dressed. Futures and cash cattle have backed off recently from their new all-time highs, yet fundamentals are still bullish. Weekly closes for livestock futures and meats…April…

Date: April 19th, 2023 New contract highs for feeders on Tuesday but somewhat uneventful trading most of the day as live cattle did not make new highs and lean hogs did not make new lows. No cash fed cattle trade to report so far this this week, but expectations are for higher prices yet again. Beef demand remains very strong and slaughter has not slowed down. Cattle on feed report coming this Friday after the close, again looking for another bullish report, but trading ahead these monthly reports seem to run cautions at times. The average trade estimate for April 1st Cattle on Feed is 95% of a year ago with March Placements projected at 96% and Marketings at 99%. Joplin Regional Stockyards Feeder Cattle…

Date: April 17th, 2023 Cattle futures finished the week mixed with pressure on the front months for live cattle and deferred feeders as lean hogs actually traded in positive territory last Friday. The pressure for cattle on Friday came from the higher feed grains and lower equity markets. All cattle contracts made new contract highs on Thursday with sharply higher negotiated cash fed cattle trade. Kansas trade was reported from $170 to $178 live, with the majority at $175, up $5 from last week, and the weighted average will be a new all-time high for the state. Even more impressive was the $9 to $12 higher trade reported in Nebraska from $182 to $186 live and $283 to mostly $290 dressed, the weighted average will…

Date: April 14th, 2023 Morning Ag Markets – Matt Hines A different type of trading day for livestock futures on Thursday with mixed settlements. Live cattle gapped higher while both fats and feeders scoring new contract highs again, but those gains faded throughout the trading session. Lean hogs made new lows pressured by disappointing weekly export sales and minimal pork demand. Cattle futures reversed lower even with confirmation of sharply higher negotiated cash trade from late Wednesday afternoon into Thursday morning. Trade reported in KS from $175 to $177 live, up $5 from last week, and the weighted average will be a new all-time high for the state. Even more impressive was the $9 to $12 higher trade reported in NE from $182 to $186…

Date: April 10th, 2023 Cattle futures finished out last week with triple digit gains. Live cattle gapped higher for new contract highs while lean hogs remain near their lows. Higher negotiated cash fed cattle trade again last week continues to support the rally in fats. Trade in TX and KS done mostly on Wednesday from $168 to $172 live, $2 to $4 higher than the week previous. Northern trade was reported $5 to $8 higher from $172 to $177 live and $275 to $280 dressed. Beef net export sales were average while pork sales soared to 53,200 MT, a new marketing year high and up 69% from the prior 4-week average. This alone kept the nearby April lean hog contract from making new contract lows…