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Date: February 8th, 2021 Livestock futures mixed on Friday but mostly higher for the week. Cash feedlot trade also higher with live trade mostly at $114, $1 to $2 higher than the week previous and dressed trade from $178 to $180, steady to $2 higher. Boxed beef prices though were mixed for the week yet packer margins are still solid and promote keeping the chainspeeds up. For the week, Friday January 29th through Friday February 5th, February Live Cattle +$1.67, April +$1.92, January Feeder Cattle +$.55, March +$1.45, February Lean Hogs +$1.17, April +$3.65, February Pork Cutout Futures -$.07. Choice Cutout +$.63 @$234.58, Select Cutout - $1.91 @ $220.79, Pork Carcass Cutout -$1.18 @ $84.18. Cattle slaughter from Friday estimated at 113,000 head and Saturday…

Date: February 3rd, 2021 Livestock futures held mostly triple digit gains reversing from Monday’s losses. Lower grains helping to support feeders. Cash feedlot trade quiet so far this week. Higher trade should be possible again this week as packers procured 86% of last week’s needs for two-week delivery. If they were flush with inventory more volume would have been for the 15-30 day delivery. Joplin Regional Stockyards Feeder Cattle - Carthage, MO Livestock Weighted Average Report for 2/1/2021 Total Receipts: 4,016 Last Week: 5,928 Last Year: 7,512 Compared to last week, steers under 700 lbs. traded 1.00-7.00 higher, over 700 lbs. traded steady. Heifers under 600 lbs. traded 3.00-7.00 higher. Over 600 lbs. traded steady. Very muddy conditions caused the supply to be light. Demand…

Date: January 25th, 2021 Livestock futures sharply higher to end last week with the heaviest volume March feeder contract limit higher. Beef prices pushed higher last week as well but cash feedlot trade was only able to remain steady with the week previous. Trade in South mostly $110 to $111 live and in Nebraska at $110 to $111 live and mostly $173 on a dressed basis. Friday’s Cattle on Feed report was a little bearish with on feed and placements higher than expected. Cattle on Feed as of January 1st totaled 12.0 million head, slightly above a year ago. December Placements totaled 1.84 million head, 1% above 2020. Marketings of fed cattle during December totaled 1.85 million head, also 1% percent above 2020. For the…

Cattle complex futures finished mixed to mostly lower in fats and the feeder cattle market was moderate to actively higher with a few $1+ gains at the finish. Some of those were pushing up close to $2 higher at the peak, but that was also when corn was at it’s low point. The corn market was getting throttled again to the downside early in the day. Negotiated cash feedlot trade saw some action at $109-$110 in Kansas, $109-$111 in Texas and $109 live in Nebraska. That’s all close to $1 lower than last week’s top. A lower trending cash market doesn’t jive well with the old saying “higher corn makes higher live cattle”, but when you look at the placement trends from last fall in…

Date: January 20th, 2021 Tuesday livestock futures traded mixed with nearby live cattle higher but deferred contracts lower, all but the soon to expire January feeder cattle contract higher and lean hogs futures triple digits lower. The soy complex was sharply lower and corn following allowing feeders to catch a break after being under pressure the past few weeks. Cash feedlot trade last week was disappointing at lower money and larger volumes than expected with over 60K head committed for delivery in the next two weeks and over 35K head for delivery 15 to 30 days out. So far this week, only some light trade in TX at $110.50 live and in the Western Corn Belt at $105. There continues to be enough supply for…

Date: January 19th, 2021 Livestock futures rebounded to end the week but still finished week over week lower. Soaring grains prices continue to provide overall pressure. Cash feedlot trade came under pressure as well this past week trading $1 to $4 lower than the week previous at $109 to $111 live and $172 to $174 on a dressed basis. Mild liquidation still seen has long term friendly for both the cattle and hog markets but demand will have to come back to pre COVID levels before getting too excited for a long lasting rally. For the week, Friday January 8th through Friday January 15th, February Live Cattle -$1.70, April -$1.10, January Feeder Cattle -$1.25, March -$1.00, February Lean Hogs -$.77, April -$.17, February Pork Cutout…

Date: January 13th, 2021 Hello January USDA Reports! Corn limit higher, all grains into new highs, cattle triple digits lower as feed costs continue to soar. Feeders of course hit the hardest yesterday as the grains continue to rally. Nearby live cattle futures were lower but some optimism holding August and beyond near $1 higher. Cash feedlot trade starting out disappointing with light trade in the Western Corn Belt at $109 to $111 live & $173 to $174 dressed which is steady to $3 lower from last week. Some minor changes on the 2021 supply and demand side for the meats with beef production down 70 million pounds, beef exports though up 10 million, pork production down 55 million pounds, pork exports down 175 million…

Date: January 11th, 2021 Livestock futures mostly under selling pressure to start the New Year. Cash feedlot trade though held steady with the week previous at $112 live in the South. In Nebraska, negotiated cash trading was reported steady to $1 higher at $175 to $177 on a dressed basis. Feed costs continue to increase pressuring feeders but demand still remains high in the country. For the week, Thursday December 31st through Friday January 8th, February Live Cattle -$.55, April +$.05, January Feeder Cattle -$3.12, March -$3.40, February Lean Hogs -$1.57, April +$.57, February Pork Cutout -$.70. Cattle slaughter from Friday estimated at 117,000 head, up 3,000 from last year with Saturday at 68,000. For the week, 651,000 head, up 136,000 from the week previous…

Date: January 6th, 2021 Wild swings in all the commodity markets continue for this the second trading day of the New Year. Almost all commodity and equities finished higher yesterday with US$ settling at new lows. Cattle futures collapsed triple digits lower on Monday looking like they were finally reacting to corn and meal prices higher almost every day over this past month. Yet that was not the case yesterday as they were able to gain back most of Monday’s losses reversing back higher. Cattle futures have traded near $4 ranges the past 2 days. Both cash feedlot trade and beef prices rallied to end last year which is supportive yet availability remains plentiful for the packers here in the near term. Only some light…

Date: January 4th, 2021 Livestock futures higher to finish the year. Cash feedlot trade wrapped up on Thursday in the Southern Plains with live purchases $2 higher than the week previous at $112. In Nebraska, negotiated cash trading was reported steady to $2 higher from $110 to $112 and dressed purchases $3 to $4 higher from $175 to $176. Export sales for beef were friendly as pork sales slipped lower but bullish for 2021. Shipments for the week leading up to Christmas were very strong for both. For the week, Thursday December 24th through Thursday December 31st, December Live Cattle +$.80, February +$.05, January Feeder Cattle -$1.97, March -$2.10, February Lean Hogs +$3.32, April +$1.15, February Pork Cutout +$2.15. Cattle slaughter from Thursday estimated at…