Date: April 30, 2025
Cattle futures again higher on Tuesday and into yet again new all-time spot highs for both live cattle and feeders. Both holding higher trends since new long term lows were hit back in April 2020. Only light volume cash fed cattle trade so far this week in the WCB, sharply higher than a week ago though at $350 dressed. A full recap of last week’s trade showed feedlots only selling 66,661 head of negotiated cash fat cattle, 91% for nearby delivery, from $207 to $219 live, weighted average $215.68 and $335 to $345 dressed, weighted average $341.09
Oklahoma National Stockyards Feeder Cattle – Oklahoma City, OK
Livestock Weighted Average Report for 4/28/2025 – Final
Total Receipts: 4,921 Last Week: 1,582 Last Year: 5,929
Compared to last week’s lighter receipts: Feeder steers and steer calves 5.00-10.00 higher. Feeder heifers 7.00-13.00 higher. Heifer calves 5.00-10.00 higher. 7 weight index steers averaged $302 to $311 and 8 weights averaged $281.
Sioux Falls Regional Cattle Auction – Worthing, SD
Livestock Weighted Average Report for 4/28/2025 – Final
Total Receipts: 3,500 Last Week: 1,321 Last Year: 2,501
Compared to last week: Feeder steers were too limited a week ago to offer a full comparison, higher undertones noted for all weights. Best comparison of heifers were those over 750 lbs, 6.00 to 8.00 higher. Very good demand for this nice offering of weaned fall born calves and backgrounded yearlings. 7 weight index steers averaged $299 to $325 and 8 weights averaged $287 to $296.
Joplin Regional Stockyards Feeder Cattle – Carthage, MO
Livestock Weighted Average Report for 4/28/2025 – Final
Total Receipts: 9,283 Last Week: 4,874 Last Year: 5,607
Compared to last week feeder steers under 775 lbs. sold 5.00-15.00 higher with heavier weights selling 2.00-6.00 higher. Feeder heifers generally sold steady to 15.00 higher with heavy six weights and light seven weights selling 15.00-20.00 higher. Supply was heavy with very good demand. 7 weight index steers averaged $308 to $318 and 8 weights averaged $276 to $285.
Kingsville Livestock Auction – Kingsville, MO
Livestock Weighted Average Report for 4/29/2025 – Final
Total Receipts: 4,961 Last Week: 2,223 Last Year: 3,086
Compared to last week, steer calves sold 8.00-15.00 higher and yearlings sold mostly steady. Heifers sold steady to 5.00 higher except for 4 loads of fancy all black yearlings that sold 15.00-18.00 higher. Demand was good to very good for a heavy supply. 7 weight index steers averaged $307 and 8 weights averaged $299.
Cattle slaughter on Tuesday estimated at 120,000 head, down 3,000 from last week and down 2,694 from last year. Hog slaughter estimated at 488,000 head, up 3,000 compared to a week ago and up 10,343 compared to a year ago.
Boxed beef cutout values higher on Choice but lower on Select on moderate demand with 108 loads sold.
Choice +5.49 @ 348.26, Select -1.30 @ 323.82
CME Feeder Cattle Index +1.43 @ 295.14
CME Lean Hog Index +.60 @ 88.78
Cash Pork Carcass Cutout -1.03 @ 96.59
April live cattle, again up to a new all-time spot high yesterday at $217.02, but also expiring today. June will then be the front month with a new contract high yesterday at $210.97 and support at $206.50 then at $202.20. May feeders also a new contract high and a new all-time spot high at $294.80 with support at $288 then at $285. June lean hogs rallying nearly $14 this month with support at $98 then $95 and resistance at $102.
All grains, except for MPLS wheat, lower on Tuesday with both Chicago and KC Wheat into new contract lows again. Corn and beans were under pressure early as planting progress reported Monday after the close was more than expected. Corn planting nationwide just 1 point behind year ago but still ahead of the 5-year average and soybean planting ahead on both. Tuesday was also positioning day ahead of today’s first notice day for May grain contracts. No daily limits now and volume will be getting thin. Weather forecasts also still pressuring the markets as the heaviest rains amounts slated over the next week centered on the Southern Plains.
Grains traded mixed overnight but mostly lower with corn finishing steady to 1 lower, beans 9 to 10 lower and wheat 1 lower to 1 higher. Outside markets have equities sharply lower, US$ higher and energies lower with crude oil down $.50/barrel. South Korea booked a cargo of option origin feed wheat. USDA announced a private sale of 120,000 MT or 4.7 MBU of corn for delivery to unknown destinations.
China announcing continued plans to cut grain use in livestock feed to around 60% and to cut soymeal content down to only 10%. The weekly EIA report out later today with expectations for steady to 1% higher week over week ethanol production. The recent EPA E-15 year-round or summer waiver should continue to show steady to higher production and demand vs. a year ago.
Another round of rains slated for the Southern Plains today with heaviest amounts expected in central TX. This lines up with the recent rainfall estimates and looks to continue to be the pattern over the next week. The 6-10 day outlook showing above normal temps centered on the Northern Plains and spread to almost the entire northern half of the country and below normal temps in the Southwest with above normal moisture for the western half of the country and below normal for the eastern half and still centered on the ECB.
Again, today is first notice day for the May grain contracts, so switching over to July corn trending lower since a new 2-month high at $4.97 ½ back on the 14th with support next at the March lows just above $4.50. July soybeans choppy but trending higher with good support holding so far around $10.40 and resistance at $10.67 ½ then around $10.80. July Chicago wheat down to a new contract low overnight at $5.23 ¼ with resistance at $5.50. July KC wheat also a new contract low overnight at $5.27 ¼ and resistance at $5.63. July MPLS wheat contract low at $5.88 ¾ back on March 28th with resistance at $6.05. July soybean meal holding a lower trend with the contract low at $289.7 on April 4th and resistance at $299 then $308.
Loewen and Associates, Inc.
Pete Loewen / Matt Hines / Doug Biswell / Tyson Loewen
www.loewenassociates.com matt@loewenassociates.com
785-537-3336
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