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Date: June 23rd, 2021 Cattle futures held triple digit gains but hogs faded into the close, still able to hold small gains though, which stopped the 10-day consecutive slide lower. Corn and soybeans tried hold steady for part of the day but pulled sharply lower by mid-morning. This along with the upcoming Senate Ag Committee hearings on cattle markets and transparency was supportive yesterday. Also supportive, light volume cash feedlot trade in the North on Monday at $126.50 live and $197 to $200 dressed, $2 to $5 higher than a week ago. The Cash Pool trade in TX on Tuesday resulted in 739 head at $122 which is steady with a week ago. KS trade picked up right after at $125 to mostly $126 which…

Live and feeder cattle futures trade finished fairly quiet yesterday, but the range of trade wasn’t so quiet. Feeder cattle moved more than $2 from high to low, but closed just mildly higher in most months. Fats were well over $1 from high to low and finished mildly weaker. The hog market is drawing the largest question marks in the meats. We have an index that’s trading over $120 and futures that are well below $110 on the front months and still dropping actively. Those stories don’t jive well fundamentally though and with some of the futures months $2-$3 lower yesterday, the pain being inflicted on traders that have been betting on hogs moving up towards the index is getting pretty intense. That brings to…

Date: June 21st, 2021 Livestock futures mixed to finish a wild week controlled mostly by sharply lower grains, lower beef and pork for the week yet higher cash feedlot trade for the first time in two months. Negotiated fat cattle trade began early in the week in the North at $4 higher than the week previous, $124 live and $195 dressed. Trade in the South followed and was wrapped up by midweek at $122 live which is $2 higher. Lean hog futures sharply lower last week as pork prices collapsed and exports have slowed recently. Oklahoma Weekly Cattle Auction Summary Livestock Weighted Average Report for 6/13/2021 - 6/19/2021 Current Week: 35,419 Last Week: 37,502 Last Year: 35,490 Compared to last week: Feeder steers 3.00-6.00 higher.…

Solid day for the cattle complex with the live cattle showing positive gains across all contract months with two of the months up over $1. It started quiet to lower, but gained ground as the day progressed. Corn was under extremely heavy pressure from start to finish and early on that had feeders up around $2 for quite a while, which caused some confusion regarding how 25+ cent losses in corn weren’t helping the feeder futures more. What it took for a more generous push higher was live cattle moving up as well. When all the live quotes were on the plus side of unchanged comfortably, feeders shot up to $3+ gains on the front three months and stuck there into the close. Spot June…

Date: June 14th, 2021 Livestock futures mostly higher to finish the week as grains were sharply lower last Friday. Cash feedlot trade done mostly midweek at $119 to $120 live and $190 to $191 dressed, steady now for almost 2 months. Cash hogs screaming higher in the North, +$17.21 in MN/IA week over week as futures were making new contract highs daily. Live cattle are called steady again this week as feeders will continue to get their direction from the corn market. Oklahoma Weekly Cattle Auction Summary Livestock Weighted Average Report for 6/5/2021 - 6/12/2021 Current Week: 37,502 Last Week: 10,378 Last Year: 35,149 Compared to last week: Feeder steers 3.00 - 5.00 higher. Feeder heifers sold steady to 2.00 higher. Limited steer and heifer…

Date: June 11th, 2021 Livestock futures finished will small gains after spending most of the day in the red. Live cattle continue to trade a very tight range, feeders keeping both eyes on corn prices and lean hogs continue to hit new contract highs. Cash feedlot trade looks to be wrapped up for the week at $119 to $120 live and $190 to $191 dressed, steady now for almost 2 months. USDA made a few adjustments to the meat balance sheet yesterday, the friendly news coming from increased exports for both pork and beef. 2021 beef production increased 5 million pounds and imports up 60 million but more than offset by the 115 million pound increase in exports. Imports for 2022 increased by 40 million…

Date: June 10th, 2021 Livestock futures again mixed yesterday, feeders lower with corn higher, nearby fats higher but deferred contracts lower and lean hogs mostly higher. Cash feedlot trade so far this week on moderate volume in the North and light volume in the South at $119 to $120 live and $190 to $191 dressed, steady now for almost 2 months. June lean hogs yet another new contract high yesterday but the heaviest volume July finishing the session lower. Part of the mixed trading for both livestock and grains coming from news out of China in regards to price controls for wheat, corn and pork. China announced they will be releasing pork reserves to stabilize hog output and prices. Winter Livestock - Dodge City, KS…

Date: June 9th, 2021 Livestock futures mixed yesterday with live cattle and hogs mostly higher but feeders again under pressure with grains higher. Cash feedlot trade picked up on moderate volume in NE and IA at $120 live and $191 dressed, steady now for almost 2 months. June lean hogs into a new contract high yesterday and the July contract matching the contract high from Monday. Pork production, price and demand continue to build and as we hit new highs daily some chatter began yesterday about the Smithfield pork processing plant in South Dakota. The United Food and Commercial Workers Union headed into contract negotiations Tuesday with a 98% vote approving a strike. The Smithfield plant produces roughly 5% of the nation’s pork supply which…

Date: June 8th, 2021 Cattle futures came back from a sharply lower open as lean hog futures continue to rally. June lean hogs hit a new contract high last Friday which held through yesterday’s trade but the highest volume July contract hit a new contract high yesterday. Cash feedlot trade quiet so far this week as we get back to normal slaughter levels and a full week of processing. Volume should be heavier this week and pretty easy to call the market steady until proven different as the past 6 weeks have been flat even with such a volatile futures market. NATIONAL FEEDER & STOCKER CATTLE SUMMARY – WEEK ENDING 06/05/2021 RECEIPTS: Auctions Direct Video/Internet Total This Week: 106,800 52,200 18,300 177,300 Last Week: 150,800…

Date: June 7th, 2021 Livestock futures finished the week mixed as cattle futures under pressure and lean hog futures continue to make new contract highs. Even though the volatility remains high for cattle futures, cash feedlot trade remains flat. The past 6 weeks live trades mostly $119 to $120 and dressed trade $190 to $191. JBS had operations back up running full by Thursday from the cyber attack the weekend prior but slaughter rates were down drastically early last week providing some of the pressure. Gran prices higher last week also hitting feeders. Oklahoma Weekly Cattle Auction Summary Livestock Weighted Average Report for 5/30/2021 - 6/5/2021 Current Week: 10,378 Last Week: 31,141 Last Year: 45,128 Compared to last week: This weeks weighted average consists of…