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Kind of a sour week for the cattle complex trade with the futures losing ground most days, cash feedlot trade, as well as cash feeder and calf market action lower and product was trending lower, meaning all aspects of the market were under pressure. On the cash side of that spectrum, negotiated feedlot trade averaged right at $2 lower than the previous week live. Feeders sold $4-$8 lower according to the National Feeder Cattle Summary and calf market trade was noticeably lower as well. Unweaned or short weaned cattle took the brunt of the hit, as usual and with the current weather situation, it isn’t very hard to figure out why. After the futures closed on Friday, Monthly COF numbers hit the press. The expectations…

Date: October 14th, 2020 Cattle futures spent most of the day in the red and triple digits lower but moved higher right at noon and finished strong for the day. Both beef and pork prices are having a hard time finding direction recently, pork doing the best holding a higher trend. Slaughter cattle weights remain higher than a year ago even though we should be near current and hog weights have been on the increase the past few weeks. Excess product continues to hit the market, very strong pork exports have helped move product but beef still needs some help. The current beef to pork price ratio at 2.2 to 1 should support beef demand improvement in the near term. Cash feedlot trade so far…

Date: October 13th, 2020 Livestock futures mixed to mostly lower to start this week. Live cattle posted the worst daily loss since this past summer as feeders did slip lower but held off from a complete collapse with corn under pressure yesterday. Cash feedlot trade reported yesterday at $109 live in TX, steady with last week. Joplin Regional Stockyards Feeder Cattle - Carthage, MO Livestock Weighted Average Report for 10/12/2020 Total Receipts: 5,433 Last Week: 5,082 Last Year: 6,788 Compared to last week, steers under 700 lbs 3.00 to 5.00 lower, over 700 lbs steady to 3.00 lower, heifer calves steady to 3.00 lower, yearlings heifers steady. Oklahoma National Stockyards Feeder Cattle - Oklahoma City, OK Livestock Weighted Average Report for 10/12/2020 Total Receipts: prelim…

Date: October 7th, 2020 Livestock markets were mixed yesterday as live cattle continue a cautiously higher trend. October fats are in delivery now with the Iowa topping the cash feedlot trade last week at $109 and early asking prices this week at $110+. The supply of cattle are transitioning from oversupply to more moderate as light placements were indicated in March and April. Feeders were hit with triple digit losses though as pressure spilled over from the grain rally. Nearby lean hogs into another recent high, testing resistance from this past winter but deferred contracts held near unchanged. Joplin Regional Stockyards Feeder Cattle - Carthage, MO Livestock Weighted Average Report for 10/5/2020 Total Receipts: 5,082 Last Week: 6,125 Last Year: 3,529 Compared to last week,…

Date: October 5th, 2020 Cattle futures finished another week under pressure and for the second week in a row cash feedlot trade moved higher. Live trade reported in all areas at $107 to $108, $2 to $3 higher than the week previous and dressed trade at mostly $168, $3 higher. Lean hog futures were mixed on Friday and for the week. The nearby October contract continues to hit new highs now testing the $75 resistance area. Beef and pork exports have been good but by no means exceptional. Confirmed cases of African swine fever in Germany now up to 46 in wild boars through Friday with the area expanding. NATIONAL FEEDER & STOCKER CATTLE SUMMARY – WEEK ENDING Friday October 02, 2020 RECEIPTS: Auctions Direct…

Date: September 30th, 2020 Turnaround Tuesday with cattle futures higher, lean hogs and grains lower. Fundamental news hasn’t changed on the livestock side. There are still plenty of bearish items to pressure cattle but if cash feedlot trade can continue to gain, the next few weeks could build some positive momentum. Hogs continue to be supported by expanding demand and potential for more into Southeast Asia and specifically China. Joplin Regional Stockyards Feeder Cattle - Carthage, MO Livestock Weighted Average Report for 9/28/2020 Total Receipts: 6,125 Last Week: 5,679 Last Year: 5,254 Compared to last week, steers under 750 lbs 3.00 to 6.00 lower, heifers under 700 lbs 4.00 to 7.00 lower, steers over 750 lbs and heifers over 700 lbs steady. Demand and supply…

Date: September 28th, 2020 Cattle futures finished the week under pressure even though cash feedlot trade was reported in TX, KS and NE at mostly $2 higher than the week previous at $105 live and $165 on a dressed basis. USDA’s Cattle on Feed report after the close on Friday was not friendly. Cattle on Feed as of September 1 came in at 11.4 million head, 4% higher than a year ago with trade estimates at 3.5%. Placements during August were 109% compared to only 106% pre report average trade estimate. Marketings were in line with expectations at 97% and with one less business day this year, were actually friendly at 101.5% on a daily basis vs. last year. Lean hog futures scored another triple…

Back on Monday we had the massive meltdown in equities and the “sell it all” reaction by literally everything in the ags and a lot of other markets as well. On days like that, digging for commodity specific reasoning or information is kind of a useless task. Instead, you just brush if off and hope the next day doesn’t come with the same influences and crazy trade that has absolutely nothing to do with fundamentals. Yesterday was a lot less stressful than Monday, because meats and grains were avoiding the influence of outside markets for the most part. Cattle complex futures traded on both sides of unchanged. Hogs did not though. They started higher and finished a lot higher. Cattle started mixed and finished under…

Date: September 22nd, 2020 Livestock futures started this week mixed to mostly lower. Heavy cattle continue to add tonnage as consumer demand along with exports continue to grind through the excess supplies with a continued lack of demand from hotel, restaurant and school programs. Showlists though do appear to be smaller again this week with the light feedlot placement this past spring. Fundamentals should be the market mover this week with the USDA Cold Storage report later this afternoon, the Quarterly Hogs and Pigs report on Thursday then the Cattle on Feed report after the close on Friday. Joplin Regional Stockyards Feeder Cattle - Carthage, MO Livestock Weighted Average Report for 9/21/2020 Total Receipts: 5,679 Last Week: 6,075 Last Year: 4,667 Compared to last week,…

Date: September 16th, 2020 Livestock futures finished mostly steady to higher yesterday led by feeders. Live cattle futures continue to be apprehensive as beef prices continue to slide lower and packers have held control over cash trade which is yet to develop this week. Packers did test the market yesterday at $103 which only resulted in a couple hundred sold out of IA. The question still remains though how will the short placements from March and April effect the supplies of fed cattle? We should be just starting to see those smaller numbers now through the month of October has showlists do appear to be smaller this week. There is still a push to move fed cattle though from the backlog created by COVID with…