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Date: June 17, 2024 Cattle futures finished out last week triple digits higher while lean hogs were mixed. The June lean hog contract expired and hit yet another recent low losing $18.50 since the April highs. Most cattle contracts gapped higher and never looked back as cash fed cattle trade was again reported higher and beef prices hit new highs for the year. Light volume cash feedlot trade started on Tuesday in NE at $190 live and in TX and KS on Wednesday at $185 live, both areas steady with the week previous. Thursday’s trade picked up in volume at $186 live in the South and shot up $5 in the North to $195 live and $305 dressed. Friday added even more with a few…

Date: June 12, 2024 Livestock futures traded both sides of unchanged on Tuesday but ultimately all finished lower. Both live and feeder cattle futures were able to hit new recent highs with June live cattle testing the May highs. Overall though it was not a great follow through day after Monday’s triple digit rally. No cash feedlot trade yet this week but hopes are for higher money this week as feedlots are current and sales were on the lighter side last week. Beef demand also remains strong with new highs for the year again yesterday. Oklahoma National Stockyards Feeder Cattle - Oklahoma City, OK Livestock Weighted Average Report for 6/10/2024 - Final Total Receipts: 6,584 Last Week: 7,170 Last Year: 10,143 Compared to last week:…

Date: June 5, 2024 Livestock futures were mixed on Tuesday but finished mostly lower throughout with minor losses to both fats and feeders and triple digit losses for nearly every lean hog contract. Cattle futures have spent the past couple trading sessions trading in fairly tight ranges and looking for direction this week. Last week’s cash fed cattle trade was overall $1 to $3 lower with the weighted average reported at $188.83 live and $301.20 on a dressed basis. Only very light volume reported so far this week in the WCB at $190 live. Lean hogs continue to drift lower, breaking nearby support yesterday for a new 5-month low. Oklahoma National Stockyards Feeder Cattle - Oklahoma City, OK Livestock Weighted Average Report for 6/3/2024 -…

Cattle futures had two sided trade on Friday but nothing too exciting heading into the COF report that came out after the close. Live cattle didn’t have a very wide range of trade and feeders didn’t trade anything too extreme either. Both failed to move above Thursday’s new recent highs. Looking at the full week of futures trade though, things were impressive last week with live cattle making new recent highs each day Monday through Thursday. Feeder cattle weren’t as impressive on the charts, but they did climb and were able to take out some resistance from the highs in April and make new recent highs on both Wednesday and Thursday. Friday afternoon’s monthly cattle on feed report came in right in line with the…

A sharp push higher yesterday across the cattle complex opened the door to active spec buying and bullish chart technicals. May feeders finally took out the April high and the August and beyond months did the same and when that happened, what started as a decent rally turned into a great rally and all back months finished $2+ higher with the August contract more than $3 up. Live cattle gains were stout and all triple digits, but nothing in the $2 range and of course, live cattle charts have looked quite a bit better than feeders for a while anyway. No cash feedlot trade at least through the futures close yesterday, but afterwards MPR showed light numbers in Texas and Kansas at $187 picked up.…

Date: May 22, 2024 Livestock futures were mixed on Tuesday with cattle again hitting new recent highs while lean hogs continue to drift lower. Supporting the cattle market yesterday were lower corn futures, continued technical buying and stronger beef prices. Only light volume cash feedlot trade reported so far this week in the WCB, steady to $2 higher compared to last week, at $190 to $192 live and $298 to $300 on a dressed basis. Lean hogs have lost over half the gains for the year, but continued losses may be limited in the near term as market ready supplies tend to tighten seasonally and packer margins are still firmly in the black. Joplin Regional Stockyards Feeder Cattle - Carthage, MO Livestock Weighted Average Report…

Good morning! Cattle futures opened up in the green yesterday and maintained that for a few hours into the trading session, but corn had some strength out of the overnight and continued higher into the day which pressured the feeder cattle futures. Live cattle however, were resilient with just August and October finishing in the red. But, as cash feedlot trade made big advances last week, the June contract continues to try to play catch up even though it’s got quite a ways to go before reaching convergence. Both live and feeder cattle are looking trendy on the charts in the short-term as both continue to make higher highs and higher lows. In feeders, those contracts are approaching some resistance from the late April highs.…

Date: May 8, 2024 Livestock futures and grains flipped places on Tuesday with all cattle and lean hogs contracts higher while all grains and oilseeds lower except new crop corn and beans. Cattle markets are still hesitant, taking a wait and see approach not only for more cash fed cattle trade later this week but the continued headline watching in regards to Avian Flu. Only light volume cash fat cattle trade so far this week in IA at $184 to $185 live, steady to $2 lower than a week ago. A recap of last week’s cash fed cattle trade showed feedlots selling 92,693 head, 58,165 head for nearby delivery and 34,528 head for deferred delivery with a weighted average at $185.69 live and $294.90 dressed.…

Date: May 6, 2024 Livestock futures mixed on fairly quiet trading on Friday, especially compared to past few trading sessions with live cattle posting over $2 gains or losses and feeders $3 to $4. Early week losses though from Avian flu in more dairies to USDA announcing testing on ground beef, was met with positive news to end the week. No beef samples tested positive, weekly export sales shot up to 25,500 MT, a new marketing year high and cash feedlot trade was again higher. Cash fed cattle trade reported in the South at $2 higher than the week previous at mostly $184 live. Northern live trade $1 to $2 higher at $186 to $187 but dressed trade remained steady at $295. Weekly closes for…

Date: April 29, 2024 Livestock futures mixed again on Friday and for the week with cattle higher but lean hogs lower. Cash fed cattle trade reported steady in TX and KS compared to the week previous at $182 to $183 live. Northern trade at $2 to $3 higher, $185 live and $295 dressed, helped spur the late week rally. There were some additional disturbing stories last week about the Avian Flu in U.S. dairies but at least the live cattle and feeder markets were able to ignore the banter and hold solid 2 week higher trends. Bearish fundamental updates midweek from weekly export sales to cold storage along with lower cash values provided the pressure on lean hogs. Weekly closes for livestock futures and meats…April…