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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…

Date: September 27, 2023 Livestock futures, specifically cattle futures, took the brunt of the looming government shutdown coming at the end of week. Equities were sharply lower with the DOW down over 400 points yesterday, the largest 1-day drop since March. The friendly cattle on feed report from last Friday sure is getting washed out this week from the outside market pressure. Some deferred feeder contracts reaching $6 lower at one point yesterday. No cash feedlot trade reported yet but it does appear holding steady would be a huge win this week. Oklahoma National Stockyards Feeder Cattle - Oklahoma City, OK Livestock Weighted Average Report for 9/25/2023 - Final This Week: 8,296 Last Week: 7,286 Last Year: 6,794 Compared to last week: Feeder steers steady…

Date: September 25, 2023 New highs midweek for live cattle and new recent highs for lean hogs while feeders dipped to test nearby support levels. Steady, but also at the top end of previous week’s range, with negotiated cash fed cattle trade last week in the South at $183 live and in the North at $186 live and $292 to $293 on a dressed basis. After the close, USDA Cattle on Feed report was neutral, as in line with expectations, but still overall friendly. Cattle on feed as of September 1st total 11.1 million head which is 98% vs. a year ago. August placements totaled 2.0 million head which is 95% of a year ago and marketings totaled 1.88 million head or 94% vs. last…

Date: September 20, 2023 Nearby October live cattle actually hit a new contract and all-time spot high on Tuesday before reversing lower. Feeders trading lower the past couple days and now testing nearby support. Lean hogs though are back to test nearby resistance. Beef prices continue to drift lower as pork prices remain a steady to higher trend. Another very quiet day in the country with the cash cattle trade at a complete standstill. Southern asking prices are starting out around $186 live but no bids as of close on Tuesday. USDA will report September Cattle on Feed this Friday with the average trade estimate at 98% vs. a year ago, August placements at 95% and marketings at 94%. Oklahoma National Stockyards Feeder Cattle -…