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“A smooth sea never made a skilled sailor.”
— Franklin D. Roosevelt
MONDAY MEME
MARKET REPORT
WEATHER 20/20 REPORT
AGRICULTURE
COVER CROPS POWER DIVERSIFIED FARM
FDA AUTHORIZES SCREWWORM TREATMENT SPRAY
WINTER CARE ON MONTANA RANCH
FINANCE
DAILY REPORTING
HAULING FARTHER MAY COST
CATTLE REBOUND, MARKETS STAY UNEASY
FUTURES RISE AMID OIL SURGE
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358.35
Previous
360.97
Change
2.62 ▼
Friday, March 13
Ogallala Livestock
5,638 Ogallala, NE
Thursday
| Feeder Steers - Medium & Large #1 | Feeder Heifers - Medium & Large #1 | ||
| 500-600 lbs | 475.00-517.00 | 400-500 lbs | 510.00-560.00 |
| 600-700 lbs | 416.00-466.00 | 500-600 lbs | 440.00-492.50 |
| 700-800 lbs | 365.00-410.00 | 600-700 lbs | 400.50-425.00 |
| 800-900 lbs | 345.50-362.00 | 700-800 lbs | 340.00-408.00 |
| 900-1000 lbs | 321.00-341.50 | 800-900 lbs | 326.00-343.00 |
Winter Livestock
4,481 Pratt, KS
Thursday
| Feeder Steers - Medium & Large #1 | Feeder Heifers - Medium & Large #1 | ||
| 500-600 lbs | 435.00-497.50 | 500-600 lbs | 404.00-435.00 |
| 600-700 lbs | 403.00-442.50 | 600-700 lbs | 356.50-397.00 |
| 700-800 lbs | 358.00-393.00 | 700-800 lbs | 330.00-354.00 |
| 800-900 lbs | 331.00-356.00 | 800-900 lbs | 298.00-326.00 |
| 900-1000 lbs | 304.00-337.00 | 900-1000 lbs | 290.50-305.50 |
Valentine Livestock
3,830 Valentine, NE
Thursday
| Feeder Steers - Medium & Large #1 | Feeder Heifers - Medium & Large #1 | ||
| 400-500 lbs | 548.00-602.00 | 400-500 lbs | 450.00-481.00 |
| 500-600 lbs | 482.00-554.00 | 500-600 lbs | 425.00-482.00 |
| 600-700 lbs | 420.00-463.50 | 600-700 lbs | 376.00-438.00 |
| 700-800 lbs | 380.00-414.50 | 700-800 lbs | 355.00-370.00 |
| 800-900 lbs | 370.00 | 800-900 lbs | 345.00 |
CHICAGO MERCANTILE EXCHANGE LIVESTOCK FUTURES SETTLEMENT
Friday
| Live Cattle | Change | Feeder Cattle | Change | ||
| Apr | 230.900 | 0.350 ▼ | Mar | 349.475 | 1.250 ▲ |
| Jun | 228.950 | 0.425 ▼ | Apr | 343.100 | 0.100 ▲ |
| Aug | 226.825 | 0.450 ▼ | May | 339.175 | 0.750 ▼ |
CHICAGO BOARD OF TRADE GRAIN FUTURES SETTLEMENTS
Friday
| Corn | Change | Soy Beans | Change | ||
| Mar | 4.5250 | 0.0425 ▲ | Mar | 12.1100 | 0.0200 ▼ |
| May | 4.6725 | 0.0475 ▲ | May | 12.2525 | 0.0200 ▼ |
| Jul | 4.7825 | 0.0425 ▲ | Jul | 12.3750 | 0.0250 ▼ |
KANSAS CITY BOARD OF TRADE
Friday
| Wheat | Change | ||||
| Mar | 6.1875 | 0.1725 ▲ | |||
| May | 6.3000 | 0.1650 ▲ | |||
| Jul | 6.4375 | 0.1650 ▲ | |||
ESTIMATED DAILY CATTLE SLAUGHTER
| Friday | 86,000 | Thursday |
| Week Ago (est) | 88,000 | Steer & Heifer: 84,000 |
| Year Ago (act) | 98,000 | Cow & Bull: 21,000 |
| Wk To Date (est) | 508,000 | |
| Last Week (est) | 521,000 | |
| Last Year (est) | 582,000 |
Friday, March 13
5 AREA WEEKLY ACCUMULATED WEIGHTED AVG CATTLE PRICE
| As of 10:00 am | Head Count | Avg Weight | Avg Price |
| Live Steer | 10,216 | 1,603 | 234.77 |
| Live Heifer | 4,820 | 1,410 | 235.02 |
| Dressed Steer | 11,371 | 1,033 | 372.04 |
| Dressed Heifer | 1,290 | 913 | 372.00 |
DAILY ESTIMATED CUTOUT VALUES
| 600-900# | Choice | Select | Choice/Select Spread |
| Current Cutout Values: | 397.92 | 391.54 | 6.38 |
| Change from prior day: | +0.83▲ | +0.72▲ |
DAILY CATTLE SLAUGHTER
| Friday | 86,000 | Thursday |
| Week Ago | 88,000 | Steer & Heifer: 84,000 |
| Year Ago (act) | 98,113 | Cow & Bull: 21,000 |
| Week To Date | 508,000 | |
| Same Period Last Week | 521,000 | |
| Same Period Last Year | 582,051 |
Friday, March 13
CattleUSA Insurance Partner Logic Ag Marketing Commentary
I don't like to end the week with a negative attitude, but with the weather change and today's crappy market action, I have nothing optimistic to give you. If I told you that it's all trash and we should burn it to the ground, you'd think I needed a vacation or a beer. But honestly, today it appears to be that way. Technicals look like garbage and pointing lower in my opinion. Spreads are way out of whack for a bear market or a bull market, once again my opinion. And don't get me started complaining about the basis to cash fats and feeders, because there's no ryhme or reason to this week's cash action vs. futures. And if you really want this rant to continue, look no further than hogs. I think the most fundamentally bullish ag commodity listed is selling off and setting up for an "M" formation going into summer. You'd think I was nuts if I told you to sell summer hogs right now given the fundamentals, but the chart makes me want to get aggressive selling everything. And why is all this happening? Because there's missiles flying in Iran. But this time it matters enough to change money flow and affect people's livelyhoods? Like I said, not in good mood to end the week and don't feel like sugar coating it. Basically, it's March Madness, and I can't wait for it to be over. I promise to eat a steak and drown my bad attitude before Monday, so don't lose hope. Have a good weekend.
-Fat cattle kill at 86,000 vs 88,000 a week ago and 98,000 a year ago
-Choice boxes up .83 to $397.92 and select up .72 to $391.54 for a spread of 6.38 on 53 loads
-CME feeder index(Feeder LRP Settlement) for 3/12 came in at $358.35
-Fed Cattle LRP’s ending last week settled at $240.02
-Hog kill at 490,000 vs 461,000 a week ago and 473,000 a year ago.
-Afternoon Pork reported down .10 at $100.19 on 205 loads
-CME lean hog index on 3/11 reported at 91.44
-CME pork cutout index on 3/12 reported at 99.48
-LRP’s ending 3/13 settled at approximately $91.60
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Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not indicative of future results.
Review our full disclaimer at https://www.logicag.com/disclaimer
1”-2” of liquid precipitation is possible east of the Mississippi river. 0.10”-1” is possible from MN to LA west through the Dakotas to far eastern NE & KS. Most of NE to central/west TX will see a trace-0.50”
CattleUSA has teamed up with Weather 20/20 to bring you exclusive access to long-range weather forecasts using their patent-pending LRC methodology. Plan ahead with confidence and stay ahead of the weather—now at a special discounted rate for CattleUSA users!
Cover Crops Power Diversified Farm
An Iowa farm integrates cover crops across every acre of its no-till corn, soybean and cattle operation. Grazing covers improves soil health, reduces fertilizer needs and provides feed, while tools like drones and combine-mounted seeders help establish crops efficiently during harvest. read more here
FDA Authorizes Screwworm Treatment Spray
The FDA issued an emergency authorization for F10 Antiseptic Wound Spray with Insecticide to help treat and prevent New World screwworm infestations in livestock and other animals. The topical treatment is considered safe when withdrawal guidelines are followed and is available over the counter. read more here
Winter Care on Montana Ranch
A Montana ranching family prepares cattle for harsh winter conditions by feeding hay and haylage, maintaining water access and providing windbreaks and bedding before storms. Careful feeding, daily checks and teamwork help ensure cows stay healthy through winter and calving season. read more here
Friday, March 13
| MARKETS | PRICE | CHANGE | PERCENT |
| DOW | 46,558.47 | - 119.38 | 0.26% ▼ |
| S&P 500 | 6,632.19 | - 40.43 | 0.61% ▼ |
| NASDAQ | 22,105.36 | - 206.62 | 0.93% ▼ |
| Russell 2000 | 2,480.05 | - 8.94 | 0.36% ▼ |
| Gold | 5,022.40 | - 103.40 | 2.02% ▼ |
| Silver | 80.44 | - 4.67 | 5.49% ▼ |
| Bitcoin | 71,450.00 | + 869.00 | 1.23% ▲ |
| Crude Oil | 98.68 | + 2.95 | 3.08% ▲ |
Hauling Farther May Cost
Selling cattle at distant sale barns for slightly higher prices can backfire once freight and shrink are considered. Longer hauls can add about 4% shrink and higher costs, meaning prices may need to be at least 15 cents per pound higher just to break even. read more here
Cattle Rebound, Markets Stay Uneasy
Cattle futures rose Friday with equities rebounding and energy prices easing, though analysts warn technical damage leaves downside risk. Cash cattle prices slipped this week while hogs and grains declined amid profit-taking, farmer selling and ongoing uncertainty tied to energy markets and global tensions. read more here
Futures Rise Amid Oil Surge
U.S. stock futures rose slightly after a weak week for equities, as investors monitored oil prices climbing above $100 amid the U.S.–Iran conflict. Markets are also watching Nvidia’s GTC conference and the Federal Reserve’s upcoming policy meeting, where rates are expected to remain unchanged. read more here
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