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Date: November 26th, 2019 Last week’s cash feedlot trade confirmed over 103,000 head compared to 86,000 the week previous at an average price just under $116 live and just over $184 dressed. It took some time for the cattle futures to react to the positive cold storage and at least positive to pre report expectations on the Cattle on Feed report, but by mid-morning yesterday all contracts were triple digits higher. Joplin Regional Stockyards Feeder Cattle - Carthage, MO Livestock Weighted Average Report for 11/25/2019 Total Receipts: 13,045 Last Week: 7,812 Last Year: 9,990 Compared to last week, steer and heifer calves 3.00 to 5.00 lower, yearling steers evenly steady, yearling heifers steady to 3.00 higher. Demand moderate to good, supply heavy. A Yearling Special…

Date: November 25th, 2019 Cattle futures finished lower for the week, feeders sharply lower as the January contract becomes the front month. Cash feedlot trade reported at $1 to $2 higher starting midweek. Trade in the South reported at $116 live while trade in the North $115 to $117 live and mostly $184 dressed. November Cattle on Feed Report USDA Actual Average Estimate Cattle on Feed November 1 101% 101.4% Placed on Feed in October 110% 112.2% Marketed in October 99% 99.6% Overall neutral to friendly versus the expectations, bearish big picture with placements up 10% vs. a year ago. Just a reminder that placements a year ago were lower though due to terrible weather conditions as well. Cold Storage • Total frozen poultry down…

Date: November 20th, 2019 Mixed trade so far for cattle futures this week, but good to see some positive settlements after trading triple digits lower yesterday. Lean hog futures continue lower, into new recent lows the past 4 trading sessions as pork prices were sharply lower. Light cash feedlot trade this week scattered around at $114 to $116 live. The Fed Cattle Exchange online auction will be held later today with 1,398 head consigned compared to last week’s 1,264 head of which non sold but were all offered at $115. Joplin Regional Stockyards Feeder Cattle - Carthage, MO Livestock Weighted Average Report for 11/18/2019 Total Receipts: 7,812 Last Week: 6,931 Last Year: 6,410 Compared to last week, steer and heifer calves and yearlings steady to…

The start of the week brought active selling to the lean hog futures that resulted in $2+ losses in quite a few contract months. Interesting setup in the hogs, because deferred futures all develop strong premiums based on the anticipation of continued strong Chinese purchases of US pork. We get good export numbers and inevitably the closer we get to expiration of these hog futures month, the more active the selloff becomes. So, demand potential builds the premium, demand shows up and the premium goes away before the contract expires. Crazy trade. Active expansion is still going on in the pork sector and the balancing act between increased exports and increased production has generally resulted in production outpacing those exports still. Daily and weekly kill…

Date: November 18th, 2019 China continues to source protein and this past week’s export sales showed China as the top buyer of U.S. pork along with amazingly the 4th top buyer of U.S. beef. Cash feedlot trade was unable to push higher this past week which stemmed from heavy pressure on futures midweek. Trade in KS and TX reported at mostly $114 to $115, steady with the week previous while trade in the North was also steady at $115 to $116 live and $180 to $182 dressed. Beef and pork prices continue to move higher, improving packer margins, and hopefully will continue to improve cash prices. NATIONAL FEEDER & STOCKER CATTLE SUMMARY – WEEK ENDING 11/15/2019 RECEIPTS: Auctions Direct Video/Internet Total This week: 299,000 51,200…

Date: November 13th, 2019 Feeder cattle into new highs, fats testing last week’s new recent highs and lean hogs triple digits higher yesterday. Pork prices continue to rally but cash hogs have slipped lower this past week. Cattle futures were able to reach higher during the trading sessions but settle mixed as again finding direction early in the week is a challenge. Beef prices continue to soar higher as cash plays catch up now for these past couple months. The Fed Cattle Exchange online auction will be held later today with 1,393 head consigned compared to last week’s 1,684 head of which 119 sold at $115 in KS. Packers purchased 25,000 more head than a week ago for the 1-15 day delivery at nearly 100,000…

Meat complex futures started the week in great shape. Live and feeder cattle finished on the plus side in all contract months, with quite a few of the feeder contracts up in the triple digits. Hogs were down on the front two months, but higher on everything else and everything closed just in the double digits on the net changes. Negotiated cash feedlot trade was a big success last week, jumping $3 in the Southern Plains up to a $115 top. That actually matched last year’s feedlot trade from the same week, although it was still $9 lower than the same week back in 2017. That’s the first time cash has traded steady with the comparative week from 2018 since the first full week of…

Date: November 6th, 2019 Cattle futures trading their typical early in the week, non-directional trading pattern while lean hogs held to a triple digit rally. This still doesn’t break the long term lower trend for hogs but is a new 2-week high. Pork prices have started to rebound providing some initial support but the real test will be sustaining the rally for the balance of the week. Cash feedlot trade still mostly quiet so far this week, some light volume in the North at values equal to last week’s trade, $115 live and $177 to $182 dressed. The Fed Cattle Exchange online auction will be held later today with 547 head consigned compared to last week’s 433 head of which 184 sold at $112 in…

Date: November 4th, 2019 Cash feedlot trade higher again last week with KS and TX trade starting midweek at $110 to $112 live. By the end of the week live trade peaked in the North at $116 and dressed trade up to $180 to $182. Live cattle futures have been leading the way now within just a few dollars of this past spring’s highs. Feeders though are still some $10+ from those highs. Compared to last year, cattle prices are still discount but beef prices remain at a premium to a year ago levels keeping packer margins in the green. The concern moving forward is still cheaper alternatives to beef such as pork which has held consistently about 1/3 the price for the majority of…