Date: May 14, 2025
Livestock futures were mixed on Tuesday with little follow through buying from Monday’s sharply higher day, more like a day of just maintaining current levels on the nearby contracts. The all-time spot highs still in place from Monday with June live cattle high at $217.75 and May Feeders high at $303.42. Deferred cattle contracts did make new contract highs. Only light volume cleanup cash feedlot trade so far this week at $225 live. Feedlots asking prices in the Southern Plains at $224 to $225 live. A full recap of last week’s cash fed cattle trade showed feedlots selling 83,514 head of negotiated cash fat cattle, 64% for nearby delivery from $218 to $230 live, weighted average at $224.03 and $352 to $363 dressed, weighted average at $356.01.
Oklahoma National Stockyards Feeder Cattle – Oklahoma City, OK
Livestock Weighted Average Report for 5/12/2025 – Final
Total Receipts: 6,387 Last Week: 4,209 Last Year: 8,350
Compared to last week: Feeder steers 4.00-6.00 higher. Feeder heifers 2.00-6.00 higher. Demand very good for feeder cattle. Few weaned steer and heifer calves sold mostly steady. Demand moderate to good for calves. 7 weight index steers averaged $310 to $322 and 8 weights averaged $296 to $299.
Sioux Falls Regional Cattle Auction – Worthing, SD
Livestock Weighted Average Report for 5/12/2025 – Final
Total Receipts: 4,881 Last Week: 1,996 Last Year:
Compared to last week: Feeder steers and heifers 10.00 to 15.00 higher. Very good demand for this large offering of feeder cattle. 7 weight index steers averaged $315 to $349 and 8 weights averaged $305 to $310.
Joplin Regional Stockyards Feeder Cattle – Carthage, MO
Livestock Weighted Average Report for 5/12/2025 – Final
Total Receipts: 9,196 Last Week: 7,364 Last Year: 6,686
Compared to last week feeder steers under 625 lbs. sold 10.00-25.00 higher with heavier weights selling 3.00-15.00 higher. Feeder heifers under 625 lbs. sold 4.00-15.00 higher with heavier weights selling from 4.00 lower to 5.00 higher. Supply was heavy with very good demand. A high percentage of the offering was high quality. 7 weight index steers averaged $305 to $323 and 8 weights averaged $291 to $299.
Ozarks Regional Stockyards Feeder Cattle – West Plains, MO
Livestock Weighted Average Report for 5/13/2025 – Final
Total Receipts: 2,206 Last Week: 3,447 Last Year: 2,717
Compared to last week, feeder steers and heifers sold steady to 5.00 higher. Steer and heifer calves under 700 lbs. were steady to 8.00 higher. Demand was good on a moderate supply. 7 weight index steers averaged $312 and 8 weights averaged $280 to $291.
Cattle slaughter on Tuesday estimated at 121,000 head, matching last week but down 3,157 from last year. Hog slaughter estimated at 481,000 head, down 4,000 compared to a week ago and down 1,682 compared to a year ago.
Boxed beef cutout values higher on Choice but lower on Select on good demand with 135 loads sold.
Choice +1.96 @ 350.10, Select -.76 @ 334.47
CME Feeder Cattle Index @ 302.40
CME Lean Hog Index @ 90.31
Cash Pork Carcass Cutout +.51 @ 97.02
June live cattle again the all-time spot high from Monday at $217.75, with support at $211 then $208. May feeders also an all-time spot high on Monday at $303.42 with an open gap from $300.85 down to $298.50 and support at $292.50. May lean hogs expire today. June rallied nearly $14 in the month of April to the recent high and now resistance at $102 with support at $96.67 then around $95.
Grains finished mixed on Tuesday after starting the day under selling pressure. The USDA crop progress showed winter wheat conditions improving again last week and planting pace for the fall crops well ahead of a year ago and the 5-year average. Monday’s bullish news from the crop report and reduced Chinese tariffs helped pull beans back into higher territory by the close while corn slid into new recent lows. July corn hit a new 7-month low yesterday while December still about a nickel away from the lows so far this year. The crop report on Monday was bearish for wheat and new lows continue to made for both Chicago and KC wheat.
Grains traded both sides of unchanged overnight but finished steady to lower. Corn finished 2 lower, beans 3 higher to ½ cent lower and wheat 3 to 7 lower. Wheat continues to be the leader lower. KS Wheat Quality Council Tour began yesterday with the tour covering central to northwest KS. The first day tour average yield came in at 50.5 BPA, the highest since 2021. This compares to 49.9 last year and 45.1 BPA for the 5-year average. There were many noting though Wheat Steak Mosaic Virus and dry conditions.
Outside markets showing equities higher, US$ lower and energies steady to lower with crude oil down $.35/barrel. Weekly energy report out later this morning with expectations for lower ethanol production, 2 to 3% lower than a week ago, and possibly a new low for the season due to ongoing maintenance shutdowns. Demand and exports though expected to be good and stocks should come down 1-2%.
Warm and summer like weather still this week as heavy rains begin in the Northern Plains bringing with it some cooler temps. Rain chances then for the eastern half of the Southern Plains into the Corn Belt early next week. The 6-10 day outlook showing above normal temps for the most of the South and below normal temps for the northern half of the country with above normal precipitation across the majority of the U.S., below normal only on the West Coast and in Florida.
July corn trending lower since the mid-April high at $4.97 ½. Again, a new 7-month low hit yesterday at $4.36 ½ with support next at $4.30 and nearby resistance around $4.70. July soybeans choppy the past few weeks but breaking through resistance this week and up to a new 3-month high overnight at $10.82 with support at $10.53 and resistance next around $11. July Chicago wheat down to a new contract low yesterday at $5.06 ¼ with resistance at $5.48. July KC wheat also a new contract low on Tuesday at $5.00 ¼ with resistance at $5.45. July MPLS wheat hit a new contract low overnight at $5.72 ½ with resistance at $6.01. July soybean meal holding a lower trend with the contract low at $289.7 and resistance at $300.
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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