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Date: October 2, 2023 All Ag futures were sharply lower on Friday focused solely on what looked like a government shutdown to start over the weekend. Luckily that was adverted as both the House and Senate approved a 45-day stop gate. All livestock futures were triple digits lower last Friday which locked in losses for the week. The front two months for lean hogs settled the daily limit lower with expanded limits in place today of $5.50. The Quarterly Hogs and Pigs report last week reported a total of 74.3 million head, slightly higher than a year ago but up 2% from June. The breeding herd though is now down 1.2% from a year ago. Cash feedlot trade last week got going by Tuesday at…

Date: September 27, 2023 Livestock futures, specifically cattle futures, took the brunt of the looming government shutdown coming at the end of week. Equities were sharply lower with the DOW down over 400 points yesterday, the largest 1-day drop since March. The friendly cattle on feed report from last Friday sure is getting washed out this week from the outside market pressure. Some deferred feeder contracts reaching $6 lower at one point yesterday. No cash feedlot trade reported yet but it does appear holding steady would be a huge win this week. Oklahoma National Stockyards Feeder Cattle - Oklahoma City, OK Livestock Weighted Average Report for 9/25/2023 - Final This Week: 8,296 Last Week: 7,286 Last Year: 6,794 Compared to last week: Feeder steers steady…

Date: September 25, 2023 New highs midweek for live cattle and new recent highs for lean hogs while feeders dipped to test nearby support levels. Steady, but also at the top end of previous week’s range, with negotiated cash fed cattle trade last week in the South at $183 live and in the North at $186 live and $292 to $293 on a dressed basis. After the close, USDA Cattle on Feed report was neutral, as in line with expectations, but still overall friendly. Cattle on feed as of September 1st total 11.1 million head which is 98% vs. a year ago. August placements totaled 2.0 million head which is 95% of a year ago and marketings totaled 1.88 million head or 94% vs. last…

Date: September 20, 2023 Nearby October live cattle actually hit a new contract and all-time spot high on Tuesday before reversing lower. Feeders trading lower the past couple days and now testing nearby support. Lean hogs though are back to test nearby resistance. Beef prices continue to drift lower as pork prices remain a steady to higher trend. Another very quiet day in the country with the cash cattle trade at a complete standstill. Southern asking prices are starting out around $186 live but no bids as of close on Tuesday. USDA will report September Cattle on Feed this Friday with the average trade estimate at 98% vs. a year ago, August placements at 95% and marketings at 94%. Oklahoma National Stockyards Feeder Cattle -…

Date: September 18, 2023 Cattle futures continued to rally last week with live and feeder cattle contracts all making new contract highs. Both spot contracts also hit new all-time highs. Funds continue to buy in anticipation of tighter fed cattle supplies and higher prices through the end of the year. Negotiated cash fed cattle trade in the South reported another $2 to $3 higher at $182 to $183 live. Trade in the North also $2 higher than the week previous at $184 to $186 live and $292 dressed. Weekly closes for livestock futures and meats…October Live Cattle +$3.70, December +$4.40, September Feeder Cattle +$2.02, October +$5.32, October Lean Hogs +$1.60, December +$.65, Choice Boxed Beef -$7.19 at $305.71 and Pork Carcass Cutout +$1.03 at $98.83.…

Date: September 11, 2023 Livestock futures finished out the week on a lower undertone but cattle futures did make new highs midweek. The October Live Cattle contract is now the spot contract and reached a new all-time spot high last week, yet the contract high is up at $185.75. Feeder cattle contracts all made new contract highs last week with the spot September contract also making a new all-time spot high. Negotiated cash fed cattle trade in the South reported $1 to $2 higher at mostly $180 live. Trade in the North though mostly steady to higher undertone at $182 to $184 live and $290 to $292 on a dressed basis, but very light volume. Weekly closes for livestock futures and meats…October Live Cattle +$3.07,…

Date: September 6, 2023 All Ag futures mixed on Tuesday on fairly tight trading ranges coming off the 3-day holiday weekend. Cattle futures spent most of the day in the red while lean hogs held small gains. Very light volume cash feedlot trade yesterday in the North at $183 live and $288 dressed. This is steady to $2 lower vs. last week but I wouldn’t expect volume to pick up until later this week. The markets will be keeping an eye on retail clearance after the holiday and beef prices this week as prices typically start trending lower. Choice boxed beef up another $1 yesterday on moderate demand. Pork prices higher as well which supported the futures. Ozarks Regional Stockyards Feeder Cattle - West Plains,…

Date: August 30, 2023 Livestock futures were mixed on Tuesday on fairly tight trading ranges. Feeders showed no follow through buying after all contracts, except the soon to expire August, made new contract highs on Monday. Showlists look smaller again this week and slaughter will be light next week with the Labor Day holiday. Beef prices seasonally start trending lower as summer grilling winds down. Cash trade could still improve this week though. Very light cash trade only so far this week in the North at $186 live. Oklahoma National Stockyards Feeder Cattle - Oklahoma City, OK Livestock Weighted Average Report for 8/28/2023 - Final This Week: 5,598 Last Week: 5,259 Last Year: 7,954 Compared to last week: Feeder steers 1.00 higher, 600-700 lbs 4.00…

Date: August 28, 2023 Cattle futures were higher on Friday locking in weekly gains. Lean hogs traded very wide ranges last week, in the end finishing the week $2+ lower as pork prices crashed on Friday due to bellies down over $58. August live cattle held nearby support last week and negotiated cash trade held steady. Trade in the South reported at $178 to $179 live and trade in the North at $185 live and $292 to $295 dressed. Weekly closes for livestock futures and meats…August Live Cattle +$2.15, October +$2.35, August Feeders +$2.05, September +$2.67, October Lean Hogs -$2.30, December -$2.47. Choice Boxed Beef +$1.79 at $317.90 and Pork Carcass Cutout -$12.75 at $93.42. Oklahoma Weekly Cattle Auction Summary Livestock Weighted Average Report for…

Date: August 23, 2023 A red day for all Ag futures yesterday with only Chicago wheat and cotton able to settle with small gains. Sell it all Tuesday in the end but at least we did have some mixed trade for feeders. Both fats and feeders closed the gaps from Monday’s strong open. The friendly July feedlot placements still fresh on all our minds but the lower cash fed trade last week wins out with live cattle ready to test nearby support levels again this week. Showlists do appear to be smaller this week, so yet again, I would not expect to see much volume trade until late in the week. Oklahoma National Stockyards Feeder Cattle - Oklahoma City, OK Livestock Weighted Average Report for…