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Date: November 20, 2023 No fireworks across the cattle complex on Friday as neither live cattle nor feeders had any huge swings either direction, unlike the $3+ moves that we’ve seen throughout the past week. Both fats and feeders tested the waters lower shortly after the open last Friday but managed to climb themselves out of the red and finish mixed for fats with $1+ gains for feeders. Negotiated cash fed cattle trade last week was steady to $3 lower with most live trade at $178 and dressed trade at $282. Weekly closes for livestock futures and meats…December Live Cattle +$1.57, February +$2.15, January Feeder Cattle +$2.07, March +$2.35, December Lean Hogs -$.92, February -$.12, Choice Boxed Beef -$6.59 at $293.87 and Pork Carcass Cutout…

Date: November 15, 2023 Moderate to strong follow through buying developed early in cattle futures on Tuesday. By late morning though, some of that enthusiasm had waned as gains were cut in half, yet we still held in positive territory for all but the nearby November feeder contract. Some of that upward momentum was halted as private average trade estimates were released for this Friday’s Cattle on Feed report. Most are looking for another bearish report with November 1st on feed numbers at 102% vs. last year and October placements at 107%. October marketings are expected to be better than month ago but still only 98% vs. a year ago. Cash fed cattle trade yet to develop with only very light volume so far in…

Date: November 13, 2023 Livestock futures were mixed on Friday but severe damage down to both the live cattle and feeder cattle charts last week. New six to seven-month lows were hit throughout the cattle futures last week as funds continue a massive, long liquidation. Choice beef still hovering right around the $300 level, although we did dip below briefly for the first time in over a month. Cash fed cattle trade developed quicker than the previous weeks with futures sharply lower, volume still fairly light. Live trade throughout the country from $178 to $181 live with dressed trade in the North from $283 to $287, all ranging from $4 to $8 lower than the week previous. Weekly closes for livestock futures and meats…December Live…

Date: November 8, 2023 Cattle futures again sharply lower as lean hogs held mild gains on Tuesday. Nearby support levels were taken out for live cattle which unleashed additional selling for both fats and feeders. Only very light volume cash fed cattle trade so far this week in NE at $180 live and $285 to $290 dressed, all other areas still at a standstill with no bids or offers yet. I would expect packers will be looking for additional volume this week after last week’s very low volume. Futures diving lower though would suggest lower cash unless feedlots can hold steady. Joplin Regional Stockyards Feeder Cattle - Carthage, MO Livestock Weighted Average Report for 11/6/2023 - Final This Week: 7,508 Last Week: 2,680 Last Year:…

Date: November 1, 2023 Livestock markets closed mostly higher on Tuesday along with the fall crops as wheat futures continued lower. Deferred live cattle futures showed the most price support at the end of trading day as feeders began under pressure from higher grains but inched higher into the close. No cash fed cattle has developed yet this week as most expect trade to hold off until the end the week as we enter a new month today and available supply via contracting. No bids are available yet and asking prices are starting at $187 live. Joplin Regional Stockyards Feeder Cattle - Carthage, MO Livestock Weighted Average Report for 10/30/2023 - Final This Week: 2,680 Last Week: 4,425 Last Year: 5,692 Compared to last week…

Date: October 30, 2023 Livestock futures were able to hold gains on Friday but cattle futures still had fairly large weekly losses. Live cattle again holding up better than feeders last week. Negotiated cash fed cattle trade though was mixed. Trade in the South started at $183, $1 to $2 lower than the week previous, but by late Friday trade volume picked up from $185 to $186 live, steady to $1 higher. Trade in the North from $183 to $186 live, $2 lower peak to peak, and dressed trade $3 to $5 lower from $290 to $292. Weekly closes for livestock futures and meats…October Live Cattle -$.27, December -$2.40, November Feeder Cattle -$5.32, January -$7.35, December Lean Hogs +$4.47, February +$3.07, Choice Boxed Beef +$2.19…

Date: October 25, 2023 Livestock futures traded both sides of unchanged on Tuesday, thank goodness we didn’t need the expanded limits though for live cattle or feeders. Live cattle traded $4+ ranges, daily trading limits were $10, while feeders traded $5 to $6 ranges with yesterday’s limits at $12.25. Both nearby October live and feeder contracts are set to expire soon and were the most supported yesterday holding triple digit gains. Cash fed cattle trade still premium to the futures as of last week and hopes that will help support the market again this week with beef prices still holding in there and higher yesterday as well. Only light volume cash fed trade so far this week in the North at $183 to $184 live…

Date: October 9, 2023 Live cattle and lean hogs able to hold triple digit gains on Friday but feeders still under the most pressure. The nearby October contract again hitting a new recent low on Friday before reversing higher and down nearly $19 over these past few weeks. Fundamentals are still friendly yet outside market pressure and light volume lower cash fed cattle trade has provided pressure recently. Cash feedlot trade last week again began early in the week with trade in TX and KS reported at $182 live, down $1 from the week previous. Light trade only in NE at $183-$184 live, also $1 lower with dressed trade from $288 to $290, $4 to $6 lower. Weekly closes for livestock futures and meats…October Live…

Date: October 3, 2023 Livestock futures were mixed yesterday with both live and feeder cattle holding gains but lean hogs still under pressure. It certainly seems that the pressure last week on cattle was mostly due to the looming government shutdown and avoiding that took the lid off. The corn rally yesterday though capped some of the gains as cattle futures did come off their highs as the trading day progressed. USDA confirmed 65,543 head of negotiated cash and 44,329 head of negotiated grid cattle selling nationwide last week in a range of $174-$190 live and $288-$295 dressed. Packers were able to hold prices steady while also slowing down the chains last week, a win in their eyes. The dip in futures though seems like…

Date: October 2, 2023 All Ag futures were sharply lower on Friday focused solely on what looked like a government shutdown to start over the weekend. Luckily that was adverted as both the House and Senate approved a 45-day stop gate. All livestock futures were triple digits lower last Friday which locked in losses for the week. The front two months for lean hogs settled the daily limit lower with expanded limits in place today of $5.50. The Quarterly Hogs and Pigs report last week reported a total of 74.3 million head, slightly higher than a year ago but up 2% from June. The breeding herd though is now down 1.2% from a year ago. Cash feedlot trade last week got going by Tuesday at…