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Date: August 16, 2023 Tuesday was an almost entirely red day across all Ag futures. Equites were sharply lower, US$ flat and energies lower. Feeder cattle did spend some of the day trading in positive territory early on, but those gains faded into the close. There seems to be an overall cautious approach when trading cattle lately. Live cattle futures are hard pressed to retest the all-time highs until confirmation cash is ready to rally. Feeders as well still cautious to test the highs from July even with corn into new recent lows. USDA will release the August cattle on feed report this Friday after the close with expectations of 98% on feed compared to a year ago and only 95% for placements and marketings.…

Date: August 14, 2023 Cattle futures finished out last week lower that locked in losses week over week. Negotiated cash fed cattle trade very light and steady to $1 higher heading into the close on Friday. Trade in North reported at $188 to $190 live and $295 dressed with trade in South at $180 live. The U.S. meat supply and demand was updated on Friday with beef production down yet again for this year but increased next year. Pork production also decreased for 2023 while total poultry production was slightly higher but sharply lower for 2024. Weekly closes for livestock futures and meats…August Live Cattle -$.52, October -$1.57, August Feeders -$1.77, September -$2.00, August Lean Hogs +$1.07, October -$1.75. Choice Boxed Beef +$.82 at $302.61…

Date: August 7, 2023 Cattle futures shot triple digits higher on Friday which locked in weekly gains. Cash fed cattle trade finally picked up volume on Friday. Early in the week, only NE trade was being reported on very light volume. NE trade for the week was steady at $295 to $296 dressed while steady to $2 higher at $186 to $190 live. KS & TX trade reported at $180 up to $185.50 live, steady to $5 higher. Futures for both fats and feeders held at nearby resistance levels but now look to retest the contract and all-time spot highs from July. Weekly closes for livestock futures and meats…August Live Cattle +$2.75, October +$3.30, August Feeders +$3.92, September +$4.47, August Lean Hogs -$2.17, October -$1.95.…

Date: August 2, 2023 Cattle futures finished triple digits higher yesterday, although it wasn’t right out of the gates and still seems to be a bit of a delayed response with corn sharply lower the past few trading sessions. Beef prices were sharply higher in the morning report which looked to be the catalyst for the strength in futures which continued into the close. Still only light volume negotiated cash fed cattle trade so far this week in the North at $294 dressed which is steady with last week’s trade. Lean hogs settled with minor losses yet still scored new recent highs and look to test resistance levels from earlier this spring. Oklahoma National Stockyards Feeder Cattle - Oklahoma City, OK Livestock Weighted Average Report…

Date: July 31, 2023 Cattle futures finished last week with small gains but held losses week over week as lean hogs were triple digits higher on Friday which secured weekly gains. The spot August lean hog contract was the leader higher, gapping higher on Friday, and hitting a new 4-month high. Supporting the rally has been very good weekly export sales, stronger cash prices and overall stronger pork prices. The only negotiated cash fed cattle to report from last week was some very light volume in the WCB at $186 live and $295 dressed which is $2-$3 lower than the week previous. KS and TX feedlots held firm asking $180 to $182 live into Friday afternoon as packers also held firm only bidding $176 to…

Date: July 26, 2023 Tuesday was a mixed day for all the Ag futures. Grains started higher but finished the overnight lower which allowed cattle to take a crack at triple digits higher. Those gains did not hold though as grains crept back up, corn finishing with only minor losses, and feeders steady to lower nearby but holding small gains from March forward. Beef prices have stabilized yet there’s still some caution in testing last week’s contract highs for fats without seeing higher cash trade again this week. So far this week, only very light volume has been reported in IA at $188 to $190 live which is steady to $2 higher. Kingsville Livestock Auction - Kingsville, MO Livestock Weighted Average Report for 7/25/2023 -…

Date: July 25, 2023 Livestock futures all lower yesterday with corn sharply higher and spillover pressure from the bearish June placements reported after the close last Friday. Markets should settle down, if grains calm some this week. Live cattle still supported by higher cash trade last week, mostly $180 live in the South and $295 dressed in the North. Top end trade though reached up to $187 live and $300 dressed. Some very light trade already reported this week in Iowa at $188 to $190 live, steady to $2 higher than last week. Over these next couple weeks and heading in Labor Day, packers will be balancing slaughter levels with the smaller fed cattle supply to try and stabilize boxed beef prices. NATIONAL FEEDER &;…

Date: July 19, 2023 Livestock futures were mixed yesterday with live cattle and only the front month lean hog contract holding triple digits gains while feeders posted triple digit losses. Equites were sharply higher supporting live cattle as was corn which pressured the feeders. No cash fed cattle yet this week. Friday will bring a couple fundamentally significant reports as USDA will release its monthly Cattle on Feed and semi-annual Cattle inventory. The average trade estimates looking for July 1 on feed and June placements at 98% vs. a year ago and June marketings at 95%. Joplin Regional Stockyards Feeder Cattle - Carthage, MO Livestock Weighted Average Report for 7/17/2023 - Final This Week: 6,278 Last Week: 12,676 Last Year: 9,551 Compared to last week…

Date: July 17, 2023 Cattle futures ended last week sharply higher locking in week over week gains while lean hogs closed with small losses and still held weekly gains. Negotiated cash fed cattle trade last week was very light as of Friday afternoon. Trade in the South steady to $2 higher at $180 live and steady to $1 higher in North at $186 live and $291 dressed. Weekly closes for livestock futures and meats…August Live Cattle +$3.17, October +$3.25, August Feeders +$1.22, September +$.62, July Lean Hogs +$2.97, August +$1.05. Choice Boxed Beef -$10.96 at $305.94 and Pork Carcass Cutout +$7.61 at $115.55. Oklahoma Weekly Cattle Auction Summary Livestock Weighted Average Report for 7/9/2023 – 7/15/2023 Receipts: Current Week 26,564 Last Week 23,291 Last Year…

Date: July 5, 2023 Cattle futures on Monday were mixed while lean hogs shot triple digits higher supported by higher cash and pork prices. Live cattle still hesitant to retest the contract highs from a month ago without higher cash trade. Packers should be a little short bought this week as trade and totals last week were spotty at best. Feeders traded both sides of unchanged on Monday flip flopping with corn doing the same. The National Feeder & Stocker Summary for last week reported steers and heifers trading $3 lower to $2 higher compared to the week previous, although most of the lower numbers were early week reports. Due to light receipts and many barns closed this week, there will not be another national…