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Date: April 19th, 2021 Livestock futures were under pressure most of last week. Cattle futures hit new recent highs the week prior and lean hogs new contract and multi-year highs but follow through was nonexistent for all this past week. I wouldn’t say fundamental news was very impactful, but there are concerns about the size of China’s hog herd due to new outbreaks of ASF and of course COVID-19 is still a major concern in many parts of the world. Beef prices were steady to higher this past week along with mixed cash feedlot trade. Live trade from $120 to $124 and dressed trade from $194 to $196 was in the same range of the week previous, $1 off the top end of trade for…

Date: April 14th, 2021 Cattle futures under pressure yesterday as lean hogs held steady. Feeders hit the hardest, down $2+ at the close after holding $1 losses for most of the day. New contract highs in corn providing pressure. It also hasn’t helped that after fats rallied sharply for 3 weeks we now face a third consecutive day of losses. Beef prices mixed to lower yesterday. Cash feedlot trade not going yet and likely to be slow as last week was a very large sales volume. Showlists are large again this week and early asking prices higher. Overall the fundamental trend is still higher with grilling season almost here and COVID restrictions easing across most of the country has cases continue to trend lower domestically…

Date: April 12th, 2021 Cattle futures ended the week under pressure but still held week over week gains. Lean hogs continued to add value and hit new contract highs. Supplies of slaughter ready cattle are tightening, especially in the North, as packers paid $3 to $8 higher than the previous week. Cash feedlot trade done primarily midweek with cattle in Texas and Kansas selling at $120-122 while northern cattle sold from $122-125 live. Dressed sales in the north reached $195-196. USDA’s updated supply and demand report showed a mild increase in beef production compared to a month ago estimates with a moderate reduction in pork production. Beef exports left unchanged, but pork exports increased. Oklahoma Weekly Cattle Auction Summary Livestock Weighted Average Report for 4/4/2021…

Date: March 24th, 2021 Livestock futures mixed during trading yesterday but mostly higher as cattle futures held small to moderate gains and lean hogs triple digits higher hitting new contract highs yet again. Cash feedlot trade very light at steady money, $114 live. Last week’s complete recap of cash feedlot trade resulted in a weighted average actually a $1 higher than the week previous at $114.23 live and $2 higher for dressed trade at $181.49. Packers did have to raise bids late in the week to finish off their buying needs. Supplies are significantly more manageable now and weights have come down the past couple weeks which are both supportive. Slaughter levels are lower though and beef prices back to trending higher. Oklahoma National Stockyards…

Date: March 16th, 2021 Cattle futures continued the rally from last Friday with most contracts trading triple digits higher. The best thing that can happen to the cattle market would be a breakout higher from the steady cash feedlot trade and along with another drop in carcass weights. Beef prices have fallen recently along with chainspeeds. Showlists do appear to be lower this week in all areas. Hog futures remain under nearby pressure although fundamentals remain supportive. Exports are bullish, cash and product trade continues higher. NATIONAL FEEDER & STOCKER CATTLE SUMMARY – WEEK ENDING 03/13/2021 RECEIPTS: Auctions Direct Video/Internet Total THIS WEEK: 303,200 58,900 31,900 394,000 LAST WEEK: 282,800 56,700 12,900 352,400 YEAR AGO: 198,200 22,000 1,900 222,100 Compared to last week, steers and…

Date: March 15th, 2021 Livestock futures finished last week mixed, but this time with cattle futures higher and lean hogs steady to lower. Live cattle higher and feeders were triple digits higher on Friday which was enough to score mostly positive gains week over week. Lean hogs were sharply higher already most of last week to secure weekly gains. Cash feedlot trade steady now for the sixth week in a row at $114 live and $180 dressed. Steady to $2 lower though on Thursday in the Western Corn Belt at $112 to $113 live and $178 to $180 dressed. Carcass weights have declined sharply to match a year ago levels. This along with tighter supplies could finally lead to a breakout higher. Rumors are circulating…

Date: March 12th, 2021 Another mixed day for livestock futures as cattle continue to search for direction and lean hogs race higher. Cash feedlot trade steady now for the sixth week in a row at $114 live and $180 dressed. Steady to $2 lower though yesterday in the Western Corn Belt at $112 to $113 live and $178 to $180 dressed. Carcass weights have declined sharply to match a year ago levels. This along with tighter supplies could finally lead to a breakout higher. Farmers and Ranchers Livestock Commission Co. - Salina, KS Livestock Weighted Average Report for 3/11/2021 Total Receipts: 3,417 Last Reported 3/4/21: 4,648 Last Year: 1,663 Compared to last week steers 400 to 550 lbs and 600 to 650 lbs were 4.00…

Date: March 3rd, 2021 A mixed Tuesday for livestock futures as cattle traded both sides of unchanged, $1+ ranges for live cattle and $2+ ranges for feeders. Buying support for cattle futures still cautious as fundamentals are mixed and again looking for higher cash feedlot trade. Cash trade has stalled now the past few weeks at $114 live and $178 to $182 dressed. Lean hogs sharply lower yesterday has profit taking took hold even though pork prices continue to rally. April lean hogs have added over $20 from mid-January lows to the new contract high last week. We will see if the rally can hold as rumors are swirling that China may be getting hit with another round of African swine fever from this winter.…

Date: March 1st, 2021 Livestock futures under pressure to end the week but mixed week over week. Cash feedlot trade remained mostly steady when compared to the week previous at $114 live with dressed trade steady to $2 higher from $180 to $182. Slaughter levels rebounded to come near the highest weekly totals so far this year. Beef and pork prices continue to increase in value as well. For the week, Friday February 19th through Friday February 26th, February Live Cattle -$2.82, April -$3.67, March Feeder Cattle -$.45, April -$.10, April Lean Hogs +$2.65, June +$1.85, April Pork Cutout Futures +$2.22. Boxed Beef, Choice +$1.30 @$240.53, Select Cutout +$1.83 @ $229.73, Pork Carcass Cutout +$2.35 @ $93.84. Cattle slaughter from Friday estimated at 119,000 head…