Morning Ag Markets – Matt Hines

Date: October 5th, 2020 Cattle futures finished another week under pressure and for the second week in a row cash feedlot trade moved higher. Live trade reported in all areas at $107 to $108, $2 to $3 higher than the week previous and dressed trade at mostly $168, $3 higher. Lean hog futures were mixed on Friday and for the week. The nearby October contract continues to hit new highs now testing the $75 resistance area. Beef and pork exports have been good but by no means exceptional. Confirmed cases of African swine fever in Germany now up to 46 in wild boars through Friday with the area expanding. NATIONAL FEEDER & STOCKER CATTLE SUMMARY – WEEK ENDING Friday October 02, 2020 RECEIPTS: Auctions Direct…

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Morning Ag Markets – Matt Hines

Date: September 30th, 2020 Turnaround Tuesday with cattle futures higher, lean hogs and grains lower. Fundamental news hasn’t changed on the livestock side. There are still plenty of bearish items to pressure cattle but if cash feedlot trade can continue to gain, the next few weeks could build some positive momentum. Hogs continue to be supported by expanding demand and potential for more into Southeast Asia and specifically China. Joplin Regional Stockyards Feeder Cattle - Carthage, MO Livestock Weighted Average Report for 9/28/2020 Total Receipts: 6,125 Last Week: 5,679 Last Year: 5,254 Compared to last week, steers under 750 lbs 3.00 to 6.00 lower, heifers under 700 lbs 4.00 to 7.00 lower, steers over 750 lbs and heifers over 700 lbs steady. Demand and supply…

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Morning Ag Markets – Matt Hines

Date: September 28th, 2020 Cattle futures finished the week under pressure even though cash feedlot trade was reported in TX, KS and NE at mostly $2 higher than the week previous at $105 live and $165 on a dressed basis. USDA’s Cattle on Feed report after the close on Friday was not friendly. Cattle on Feed as of September 1 came in at 11.4 million head, 4% higher than a year ago with trade estimates at 3.5%. Placements during August were 109% compared to only 106% pre report average trade estimate. Marketings were in line with expectations at 97% and with one less business day this year, were actually friendly at 101.5% on a daily basis vs. last year. Lean hog futures scored another triple…

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Morning Ag Markets – 9.23.20 – Pete Loewen

Back on Monday we had the massive meltdown in equities and the “sell it all” reaction by literally everything in the ags and a lot of other markets as well. On days like that, digging for commodity specific reasoning or information is kind of a useless task. Instead, you just brush if off and hope the next day doesn’t come with the same influences and crazy trade that has absolutely nothing to do with fundamentals. Yesterday was a lot less stressful than Monday, because meats and grains were avoiding the influence of outside markets for the most part. Cattle complex futures traded on both sides of unchanged. Hogs did not though. They started higher and finished a lot higher. Cattle started mixed and finished under…

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Morning Ag Markets – Matt Hines

Date: September 22nd, 2020 Livestock futures started this week mixed to mostly lower. Heavy cattle continue to add tonnage as consumer demand along with exports continue to grind through the excess supplies with a continued lack of demand from hotel, restaurant and school programs. Showlists though do appear to be smaller again this week with the light feedlot placement this past spring. Fundamentals should be the market mover this week with the USDA Cold Storage report later this afternoon, the Quarterly Hogs and Pigs report on Thursday then the Cattle on Feed report after the close on Friday. Joplin Regional Stockyards Feeder Cattle - Carthage, MO Livestock Weighted Average Report for 9/21/2020 Total Receipts: 5,679 Last Week: 6,075 Last Year: 4,667 Compared to last week,…

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Morning Ag Markets – Matt Hines

Date: September 16th, 2020 Livestock futures finished mostly steady to higher yesterday led by feeders. Live cattle futures continue to be apprehensive as beef prices continue to slide lower and packers have held control over cash trade which is yet to develop this week. Packers did test the market yesterday at $103 which only resulted in a couple hundred sold out of IA. The question still remains though how will the short placements from March and April effect the supplies of fed cattle? We should be just starting to see those smaller numbers now through the month of October has showlists do appear to be smaller this week. There is still a push to move fed cattle though from the backlog created by COVID with…

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Morning Ag Markets – 09/15/2020 – Pete Loewen

With product and cash back on the heavy defensive, it’s been good to see live and feeder cattle futures continue the bounce higher after falling hard during the last half of August. Live cattle finished yesterday’s session up more than $1 on all but one contract month. Feeders were up triple digits in everything, including the October contract that settled more than $2 higher. Then, there was the hog market… Germany confirming ASF in hogs last week and South Korea immediately banned all German imports. China was a little slower to respond, but they banned them as well. Germany is the largest pork producer in the EU, so the potential from this is the US picking up even more of the world export trade and…

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Morning Ag Markets – Matt Hines

Date: September 14th, 2020 The holiday shortened trading week ending pretty well for the Ag sector, all but wheat finishing higher. Cattle futures flipped from steady to lower up to higher as the day progressed last Friday. Lean hog futures did not take full advantage of their expanding daily limits but still gapped higher again on Friday and finished $2 to $3 higher. The African swine fever discovery in Germany led to an immediate import ban in South Korea and most likely a ban into China. Cash feedlot trade continues to grind lower with live sales reported last week from $100 to $101 and dressed trade from $160 to $162, $1 to $3 lower than the week previous. NATIONAL FEEDER & STOCKER CATTLE SUMMARY –…

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Morning Ag Markets – Matt Hines

Date: September 9th, 2020 Livestock futures held gains yesterday to start the holiday shortened week even with another selloff in the equites and firm corn prices. Last week’s bearish cash trade as yet to spill over into this week, although I would expect to see steady to lower trade again this week. Last week’s negotiated sales only totaled 80,959 head, the lowest volume traded since early May. Showlists appear to be bigger in KS while lower in TX and NE. The Fed Cattle Exchange online auction will be held later this morning with 892 head consigned compared to last week’s 436 head of which 365 sold at $103 live. Lean hogs started the day lower, but another sharply higher midday report for pork led to…

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Morning Ag Markets – Matt Hines

Date: September 8th, 2020 Livestock futures finished last week on a higher note, cattle lower though week over week as hogs continue to rally. Cash feedlot trade losing some ground with live sales reported last week from $102 to $104 and dressed trade from $162 to $165, both of which $2 to $4 lower than the week previous. NATIONAL FEEDER & STOCKER CATTLE SUMMARY – WEEK ENDING 09/04/2020 RECEIPTS: Auctions Direct Video/Internet Total This Week: 160,800 27,900 5,200 193,900 Last Week: 156,200 38,700 280,300 475,200 Year Ago: 106,800 58,100 14,700 179,600 Compared to last week, steers and heifers sold 1.00 to 5.00 lower. Around the Labor Day holiday, many auctions proceed to have customer appreciation sales. Many ranchers set their marketing plan around selling cattle…

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