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Date: November 3rd, 2021 Yes it was Tuesday yesterday and by now we all know what that means, Turnaround Tuesday! Feeders with the biggest swings as triple digit lower and into new recent lows for all deferred contracts on Monday followed up but triple digit moves higher on Tuesday. Another way to look at feeders, Tuesday’s highs were over $6 higher from Monday’s lows. Live cattle also reversing higher yesterday and lean hogs reversing lower. Cash fed cattle trade starting this week on very light volume Monday in the WCB at $200 dressed, steady with a week ago. The pace picked up on Tuesday at $128 live in TX and KS and $130 live in NE, all $2 higher than a week ago. Oklahoma National…

Date: November 1st, 2021 Cattle futures triple digits lower to end the week as lean hogs finished triple digits higher, both reversing direction midweek. The only two higher contracts for cattle were the expiring October Live and Feeder Cattle contracts. Lean hogs reversed course on Thursday from very bullish export sales and shipments last week, even without China buying this time. Cash feedlot trade last week higher than week previous with trade in TX and KS finally breaking free from two month long $124 live trade up to $126. Trade in the NE and IA $2 to $4 higher at $126 to $127 live and $200 on a dressed basis. Oklahoma Weekly Cattle Auction Summary Livestock Weighted Average Report for 10/24/2021 - 10/30/2021 Total Receipts…

Date: October 26th, 2021 The bullish Cattle on Feed report from last Friday triggered a gap higher open for cattle futures yesterday but follow through buying was limited as both fats and feeders finished with modest gains. Cold storage reported last week was also friendly with 6% less beef than a year ago. Lean hogs were mixed but mostly higher on limited volume. Pork still looking for increased demand as export shipments have been very good the past few weeks but sales volumes have pulled back. Pork carcass values still under heavy pressure as hams continue to slide sharply lower and weekly slaughter levels easing. Oklahoma National Stockyards Feeder Cattle - Oklahoma City, OK Livestock Weighted Average Report for 10/25/2021 This Week: estimated 8,500 Last…

Date: October 25th, 2021 Cattle futures hit hard on Friday, especially the deferred months, as hogs held near steady as most of the damage was already done earlier in the week. Cash feedlot trade last week, again with most of volume traded midweek, in KS and TX at $124 live and in NE at $196 dressed, steady with week previous and since late August. Live trade in NE a bit firmer than the week previous at $124 up to $126.50 live and IA up to $127. Cattle liquidation continues as indicated by the September Livestock Slaughter report by USDA last Thursday. Total cow slaughter for September is up 7% from a year ago and heifer slaughter up 4%. This is also the 7th month in…

Date: October 22nd, 2021 Another mixed trading day for livestock futures yesterday. Lean hogs continue to be under heavy selling pressure with the nearby December contract down over $12 from the recent high at the beginning of the month and now only $2 away from the new 6-month lows in September. Cattle futures also mostly in the red on Thursday but did trade both sides of unchanged for much of the day. Cash feedlot trade this week in the KS and TX at $124 live and in NE at $196 dressed, steady with last week. Live trade in NE a bit firmer than week ago at $124 up to $126.50 live and IA up to $127. Estimates for today’s Cattle on Feed report leaning to…

Date: October 21st, 2021 Livestock futures were mixed yesterday with cattle futures higher and lean hogs triple digits lower. Lean hogs closed the gap from late September after the bullish quarterly hogs and pigs report. New recent highs were hit the first of October but pressure on pork, cash and futures since. Cash feedlot trade picked up the pace on Wednesday in the KS and TX at $124 live and in NE at $196 dressed, steady with last week. Live trade in NE a bit firmer than week ago at $124 up to $126.50 live and IA up to $127. The Fed Cattle Exchange online auction on Wednesday resulted in zero sales of the 2,757 head listed, bids ranged mostly from $120 to $124 live.…

Date: October 20th, 2021 Livestock futures finished mostly lower for Tuesday and at or near their daily lows as selling pressure came in late in the trading day. Feeders started the day reversing from Monday’s losses and were triple digits higher early in the day but broke into new recent lows. The nearby October feeder contract has settled lower now 7 of the last 8 days after scoring a new recent high and back to testing support at $155. Cash feedlot trade so far this week began with a very small package of fed steers on Monday in IA at $125 followed up by small volume in NE at $196 dressed and in TX at $123 to $125 live, all steady with a week ago.…

Date: October 19th, 2021 Livestock futures mixed yesterday with live cattle posting an inside trading day, feeders triple digits lower and lean hogs showing some follow through buying but on light volume. Cash feedlot trade yet to develop as midweek high volume looks to play out again. There could be some business holding off until after the Cattle on Feed report to be released after the close this Friday. China reported September pork imports down 44% compared to a year ago and year to date pork imports down 4.3%. This reduction has led to some of the recent pressure but will also be important moving forward as we still need to see long term pork demand expand. Oklahoma National Stockyards Feeder Cattle - Oklahoma City,…

Date: October 18th, 2021 Livestock futures mixed last week as live cattle rallied to new recent highs but both feeders and lean hogs were flat to under pressure all week. Cash feedlot trade held steady in the South at $124 live with NE adding $2 from the week previous to match at $124 live and dressed trade steady at $196. The monthly supply and demand report was friendly for cattle with increased production, increased domestic consumption and decreased pork and poultry production. The next fundamental update will come this Friday with the October Cattle on Feed report. The early estimates are looking for placements to be slightly higher than a year ago, marketings lower and on feed right in line with last year. Oklahoma Weekly…

Date: October 14th, 2021 A massive commodity selloff yesterday with only soybean oil, canola and cotton futures able to hold gains. Cattle futures mostly triple digits lower with nearby live cattle gaining back some into the close. Light cash feedlot trade Tuesday steady with last week in the WCB at $122 live and for the TX Cash Pool at $124.15. More volume on Wednesday, again steady with a week ago at $124 live in TX and KS, a few up to $124.50. NE trade picked up as well at $124 live, a few up to $125, mostly $2 higher and $196 dressed which is steady with last week. Lean hogs traded a tight range with small losses. The nearby October contract expires today as most…