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The relentless pounding of the hog market continued on Monday with $2+ losses across most contract months. Cash has been on a steady course to the downside over the last month plus and the product market is working lower in tandem. Oddly enough, it was African Swine Fever in China that led to the giant rally from March to the April highs, but as the disease spread into other Asian countries and other parts of the globe we’ve seen a drop in the futures market that has taken prices below the levels that were trading when the rally started. In the process, the US has logged six major pork export sales to China and they continue to make the top 5 list on new purchases…

Date: July 8th, 2019 Beef weekly export sales were above average while pork sales dipped below but shipments were strong with 8,100 MT of the 27,000 MT total going to China. Cattle futures held triple digit gains Friday while lean hogs were triple digits lower. Most of the cash feedlot trade last week was done before the Independence Day break. $109 live in the South which is steady with the week previous and still premium to the nearby August contract helping to attract some buying in the futures. In the North, trade was seen initially on light volume at $111.50 live then moved up to $113 to $114, $178 to $180 dressed, steady to $2 better than the week previous. NATIONAL FEEDER & STOCKER CATTLE…

Date: July 5th, 2019 Cash feedlot trade got going in the South Wednesday morning at $109 live, steady with last week and still premium to the nearby August contract helping to attract some buying in the futures. In the North, trade picked up as well moving from light volume at $111.50 live up to $113.50 and $178 to $180 dressed, steady to $2 better than last week. Feeders flipped from $1+ higher to $1+ lower as corn pushed into double digit gains. Green City Livestock Auction - Green City, MO Livestock Weighted Average Report for 7/3/2019 Total Receipts: 4,196 Last Report 6/19/19: 1,875 Last Year’s 2-day sale: 6,294 Compared to the last sale two weeks ago, steers and heifers traded mostly 5.00 to 8.00 higher.…

There was a lot of green on the screen across the meat complex to start the week. Feeder cattle got a boost from a giant drop in corn on Friday and another fallout yesterday as well. That cheaper feedgrain picture helped back end contracts more than the front though with the August only up mildly, Sept was up less than $1 and then $1+ gains were the norm from the October and beyond contracts. Live cattle trade was higher, but only mildly and the front end August was the only red ink across the whole meat complex. Hogs were coming off of what I would call a bearish Quarterly Hog and Pig report from Friday. The total inventory and market hog numbers were up 4%…

Date: July 1st, 2019 Cattle futures finished the week mixed trying to keep up with the volatile grain market and month end trading of its own. TX and KS cash feedlot trade reported at $109 live finally on Friday while in the North trade trickled in throughout the week from $110 to $112.50 live and $175 to $180 dressed. NATIONAL FEEDER & STOCKER CATTLE SUMMARY – WEEK ENDING 06/28/2019 RECEIPTS: Auctions Direct Video/Internet Total This Week 156,200 35,700 46,100 238,000 Last Week 155,900 41,600 15,000 212,500 Year Ago 182,800 47,400 66,800 297,000 Compared to last week, steers and heifers sold uneven; 3.00 lower to 3.00 higher. There were instances of auctions in the North Central area calling their markets up to 8.00 to 10.00 higher…

Date: June 28th, 2019 Not much follow through for cattle futures after feeders limit higher Wednesday. June fats popped triple digits higher, finally catching up to cash trade, all other contracts steady to weaker. Cash trade so far this week still very light with some trade in the North from $108 to $112.50 and $175 to $180 dressed. Lean hogs trying to hold nearby support this week with futures flat so far this week. USDA though out with a neutral to slightly bearish Quarterly Hogs and Pigs report after the close as very little directional changes but estimates exceeding expectations by 1% throughout. United States inventory of all hogs and pigs on June 1, 2019 was 75.5 million head. This was up 4% from June…

Date: June 26th, 2019 Cattle futures again mixed yesterday with fats higher and feeders lower. Cash feedlot trade quiet on Monday with just a few hundred head moving at $178 dressed which is the bottom end of the range from last week. Tuesday a few thousand head traded in the North at $108 live and $180 dressed, steady with last week. The Fed Cattle Exchange online auction will be held later this morning with only 148 head consigned compared to last week’s 315 head of which none sold. Lean hogs able to stay triple digits higher yesterday, although still an inside trading day form the previous session and at this time just a pause in the price collapse witnessed since mid-April. USDA will release its…

The relentless beating of the feeder cattle market continued on Monday with triple digit losses across all of the contract months, some pushing close to $2 lower. Hogs were deep in the triples with most contracts down more than $3. Live cattle trade spent time on both sides of unchanged and managed a higher close on the front two months, but all the back months were mildly lower past the August. A lot of the feeder cattle contract months sunk to new life of contract lows, opening the door to a lot of thin air below. Plus, it wasn’t difficult to figure out another culprit in that selling either, because corn and the rest of the grain and oilseed trade was solid green on the…

Date: June 24th, 2019 Cattle futures finished the week triple digits lower as lean hogs finished down the $3 limit. Cash feedlot trade $2 to $3 lower than the week previous at $108 to $110 live in TX and KS, NE $110 live and dressed trade ranged from $176-$187. Cattle on Feed June 1 at 11.7 million head, 102.0% vs. last year and the highest June 1 inventory since the series began in 1996. Placements in May at 97.0% with Marketings at 101.0%. Not much to see in the report. Placements were skewed towards heavier cattle. On Feed total was slightly larger than the estimate, viewed overall neutral to slightly bearish. Total red meat supplies and total frozen poultry supplies on May 31, 2019 were…