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Date: May 3rd, 2023 Cattle futures sharply lower yesterday, feeders breaking through nearby support levels, while lean hogs remain steady to higher. Cash fed cattle trade already began to develop at $172 live in TX and KS and $281 dressed in NE which is a $1 to $3 lower than last week. This provided the opportunity for sellers to jump in heavy on the futures yesterday. It also didn’t help that equites were hit hard yesterday as well. Seasonally, May is not a supportive month for cattle futures, but most felt this year would be different as we hit new all-time highs last month and bullish fundamentals are still in place. Oklahoma National Stockyards Feeder Cattle - Oklahoma City, OK Livestock Weighted Average Report for…

Date: May 1st, 2023 Cattle futures finished the week lower but most contracts still held week over week gains while lean hogs were triple digits higher last Friday and $5 higher for the week. Weekly export sales for beef were bearish at only 9,500 MT, but pork sales were a new marketing year high at 54,000 MT helping support the rally in hogs last week. Negotiated cash fed cattle trade off $2 to $5 from the week previous with trade in the South at $173 live and in the North from $176 to $180 live and $280 to $286 dressed. Futures and cash cattle have backed off recently from their new all-time highs, yet fundamentals are still bullish. Weekly closes for livestock futures and meats…April…

Date: April 19th, 2023 New contract highs for feeders on Tuesday but somewhat uneventful trading most of the day as live cattle did not make new highs and lean hogs did not make new lows. No cash fed cattle trade to report so far this this week, but expectations are for higher prices yet again. Beef demand remains very strong and slaughter has not slowed down. Cattle on feed report coming this Friday after the close, again looking for another bullish report, but trading ahead these monthly reports seem to run cautions at times. The average trade estimate for April 1st Cattle on Feed is 95% of a year ago with March Placements projected at 96% and Marketings at 99%. Joplin Regional Stockyards Feeder Cattle…

Date: April 17th, 2023 Cattle futures finished the week mixed with pressure on the front months for live cattle and deferred feeders as lean hogs actually traded in positive territory last Friday. The pressure for cattle on Friday came from the higher feed grains and lower equity markets. All cattle contracts made new contract highs on Thursday with sharply higher negotiated cash fed cattle trade. Kansas trade was reported from $170 to $178 live, with the majority at $175, up $5 from last week, and the weighted average will be a new all-time high for the state. Even more impressive was the $9 to $12 higher trade reported in Nebraska from $182 to $186 live and $283 to mostly $290 dressed, the weighted average will…

Date: April 14th, 2023 Morning Ag Markets – Matt Hines A different type of trading day for livestock futures on Thursday with mixed settlements. Live cattle gapped higher while both fats and feeders scoring new contract highs again, but those gains faded throughout the trading session. Lean hogs made new lows pressured by disappointing weekly export sales and minimal pork demand. Cattle futures reversed lower even with confirmation of sharply higher negotiated cash trade from late Wednesday afternoon into Thursday morning. Trade reported in KS from $175 to $177 live, up $5 from last week, and the weighted average will be a new all-time high for the state. Even more impressive was the $9 to $12 higher trade reported in NE from $182 to $186…

Date: April 10th, 2023 Cattle futures finished out last week with triple digit gains. Live cattle gapped higher for new contract highs while lean hogs remain near their lows. Higher negotiated cash fed cattle trade again last week continues to support the rally in fats. Trade in TX and KS done mostly on Wednesday from $168 to $172 live, $2 to $4 higher than the week previous. Northern trade was reported $5 to $8 higher from $172 to $177 live and $275 to $280 dressed. Beef net export sales were average while pork sales soared to 53,200 MT, a new marketing year high and up 69% from the prior 4-week average. This alone kept the nearby April lean hog contract from making new contract lows…

Date: April 5th, 2023 It was an entirely red day across all the Ag futures yesterday. Little new fundamental news, China on holiday and a 4-day trading week here could already be influencing traders. Cattle did start the day higher but starting fading shortly after the open. Long term fundamentals for cattle are still supportive, as I’ve said before, even in a bullish market it does not mean we have to go higher every day. The new highs for fats hit on Monday and feeders last Friday, so far this week it appears traders want to make sure the nearby fundamentals remain supportive as well. By that, I mean that beef can at least hold steady if not continue to increase along with the continued…

Date: April 3rd, 2023 Cattle futures rallied last week as cash fed cattle trade soared higher. Trade in TX and KS reported at $165 to $167 live, $2 to $4 higher than the week previous. Northern trade was reported $3 to $7 higher from $168 to $172 live and $270 to $272 dressed. Also on Friday, winter storms in South Dakota while red flag warnings were posted in the Southern Plains, both hazardous to cattle. Lean hogs were mixed on Friday and for the week as nearby and cash were under pressure as USDA revised December 1st inventory up 1.28 million head even though March 1st all hogs and pigs inventory was in line with expectations at 72.86 million head. Deferred futures were supported by…

Date: March 29th, 2023 Livestock futures mixed on Tuesday following strong gains on Monday. Lean hogs and feeders struggled and traded fairly tight ranges, both within Monday’s range. The nearby live cattle contract was able to extend gains and it would not surprise me to see steady to $2 higher cash trade this week. Asking prices in the South have already been reported from $165 to $166 live with nothing noted yet up North. Ozarks Regional Stockyards Feeder Cattle - West Plains, MO Livestock Weighted Average Report for 3/28/2023 - Final This Week: 2,363 Last Week: 2,279 Last Year: 3,223 Compared to last week, feeder steers and heifers sold 2.00-4.00 higher. Steer and heifer calves sold 3.00-6.00 higher. Demand was good to very good on…

Date: March 28th, 2023 A strong start for the week in both livestock and grain futures yesterday. Triple digit gains for all cattle and lean hog futures on Monday led by gap higher moves for feeder cattle. Strong cash prices continue to support higher futures, at least on stockers and feeders. Fed cattle have dipped just a little bit recently, at least in TX and KS, but it would not surprise me to see steady to $2 higher trade this week. NATIONAL FEEDER & STOCKER CATTLE SUMMARY - WEEK ENDING 03/25/2023 RECEIPTS: Auctions Direct Video/Internet Total This Week: 186,600 27,200 5,000 218,800 Last Week: 194,400 45,700 44,100 284,200 Year Ago: 166,900 29,900 24,900 221,700 Compared to last week, steers and heifers under 700 lbs sold…