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TUESDAY Q’S

MARKET REPORT

WEATHER 20/20 REPORT

AGRICULTURE

  • REGENERATIVE AGRICULTURE: PROMISE OR HYPE?

  • NATIONAL FFA WEEK CELEBRATED

  • USDA RFI SIGNALS DATA SHIFT

FINANCE

  • DAILY REPORTING

  • CATTLE FIRM, HOGS FACE HEADWINDS

  • BRAZIL GAINS EDGE IN SOYBEANS

  • SUPREME COURT SPARKS TRADE TURMOIL

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Last Week’s Responses— 2/17

DAILY MARKET SUMMARY

Monday, February 23

AUCTION SUMMARY

Ft. Pierre Livestock

5,987 Ft. Pierre, SD

Friday

Feeder Steers - Medium & Large #1 Feeder Heifers - Medium & Large #1
500-600 lbs485.00-550.00400-500 lbs490.00
600-700 lbs420.00-488.00500-600 lbs422.00-481.00
700-800 lbs380.00-437.00600-700 lbs377.50-440.00
800-900 lbs384.50-399.00700-800 lbs342.00-394.00
900-1000 lbs346.00-352.50800-900 lbs295.00-327.50

Ericson Livestock

4,340 Ericson, NE

Saturday

Feeder Steers - Medium & Large #1 Feeder Heifers - Medium & Large #1
500-600 lbs480.00-537.50500-600 lbs443.00-505.00
600-700 lbs440.00-472.50600-700 lbs390.00-425.00
700-800 lbs382.50-437.50700-800 lbs353.00-391.00
800-900 lbs359.00-389.00800-900 lbs329.00
900-1000 lbs343.50-360.50900-1000 lbs309.00-309.25

Herreid Livestock

1,906 Herreid, SD

Friday

Feeder Steers - Medium & Large #1 Feeder Heifers - Medium & Large #1
400-500 lbs536.00-607.00300-400 lbs560.00-595.00
500-600 lbs480.00-528.00400-500 lbs520.00-540.00
600-700 lbs411.00-467.50500-600 lbs425.00-479.00
700-800 lbs387.00-411.00600-700 lbs406.00-430.00
800-900 lbs377.75-389.00700-800 lbs361.50-376.00

CHICAGO MERCANTILE EXCHANGE LIVESTOCK FUTURES SETTLEMENT

Monday

Live Cattle Change  Feeder Cattle Change
Feb 244.975 1.600 Mar 364.300 3.725
Apr 239.250 2.750 Apr 361.350 3.700
Jun 235.450 2.075 May 357.975 3.025

CHICAGO BOARD OF TRADE GRAIN FUTURES SETTLEMENTS

Monday

Corn Change  Soy Beans Change
Mar 4.2750 unchanged Mar 11.3425 0.0325
May 4.4025 0.0050 May 11.4975 0.0350
Jul 4.4875 0.0050 Jul 11.6350 0.0250

KANSAS CITY BOARD OF TRADE

Monday

  Wheat Change
Mar 5.6000 0.1225
May 5.7225 0.1300
Jul 5.8500 0.1200

ESTIMATED DAILY CATTLE SLAUGHTER

Monday 106,000 Friday
Week Ago (est)87,000 Steer & Heifer: 68,000
Year Ago (act)97,000 Cow & Bull: 21,000
Wk To Date (est)106,000 Saturday
Last Week (est)87,000 Steer & Heifer: 0
Last Year (est)97,000Cow & Bull: 0

Monday, February 23

5 AREA WEEKLY ACCUMULATED WEIGHTED AVG CATTLE PRICE

As of 10:00 amHead CountAvg WeightAvg Price
Live Steer 24,278 1,572 246.91
Live Heifer 7,809 1,410 247.37
Dressed Steer 12,540 1,021 387.95
Dressed Heifer 2,974 908 387.98

DAILY ESTIMATED CUTOUT VALUES

600-900#ChoiceSelectChoice/Select Spread
Current Cutout Values: 369.22 364.31 4.91
Change from prior day: +2.52 +3.57  

DAILY CATTLE SLAUGHTER

Monday 106,000 Friday
Week Ago (est)87,000 Steer & Heifer: 68,000
Year Ago (act)96,630 Cow & Bull: 21,000
Wk To Date (est)106,000 Saturday
Last Week (est)87,000 Steer & Heifer: 0
Last Year (est)96,630 Cow & Bull: 0
ASK JOHN

Cattle markets continue their historic climb with seven-dollar calves, feeder cattle pushing new highs, and fed cattle trading near $2.50. Demand remains strong and buying depth continues to surprise producers across the Plains.

But this week’s market strength is overshadowed by devastating wildfires across southwest Kansas and the Oklahoma Panhandle. With over 200,000 acres burned, ranchers are facing destroyed grass, fences, infrastructure, and smoke-damaged cattle. The rebuilding effort will take months and community support will be critical.

This episode covers the market update, regional highlights, and how listeners can support fire relief efforts through trusted cattle industry organizations.

Takeaways:

  • Calf and feeder markets remain extremely strong across the region

  • Seven-dollar three-weight steers reported in Colorado

  • Eight-weight steers trading north of $360

  • Spring calving cows selling above $4,000 in select packages

  • Fed cattle reported as high as $250 in some areas

  • Regional demand remains aggressive despite lighter receipts

  • Over 200,000 acres burned in Kansas and Oklahoma wildfires

  • Smoke damage, fence loss, and long-term grass loss create ongoing challenges

  • 100 percent of relief funds through state cattle associations go directly to impacted ranchers

  • Donations, hay, fencing supplies, fuel, and trucking support are all needed

Donation Information:

Kansas

KLA Office - (785) 273-5115

Oklahoma

OCF Office - 405-435-4391

OCF Fire Relief Fund: https://www.okcattlemen.org/

If you would like to donate to this relief effort, you can do so by mail or online. OCF is a 501c(3) charitable arm of the Oklahoma Cattlemen’s Association (OCA).

Make checks payable to: Oklahoma Cattlemen’s Foundation | Memo: “Fire Relief”

Mail to: P.O. Box 82395, Oklahoma City, OK 73148.

Have a topic you want to hear discussed? Use the button below to send us your request and tune in to CattleUSA TV on YouTube to see the answer 🤠

*Do not include personal details like addresses, passwords, financial information or other sensitive data*

Monday, February 23

CattleUSA Insurance Partner Logic Ag Marketing Commentary


Managed money, as of last Tuesday, started adding to cattle longs again, while liquidating some of their hog longs. As I've said, this report is delayed, so they could've changed their intentions since last Tuesday. The sad reality is Live Cattle haven't done much with the renewed interest from Managed Money. And given our move since last Tuesday, I'm slightly disappointed cash didn't give MM more reasons to add longs. We feel a little tired up here, and we can't blame the Funds for it. The entire grain complex has been getting a lift from managed money flipping out of their shorts. It's wild how bullish they've become in the bean and bean product spaces, something I don't see lasting forever. It's crazy how they've flipped out of meal shorts and meal remains stuck down near $310, telling me there's plenty of physical meal suppressing the price. Corn is very similar, as managed money was net short closer to 90k contracts a month ago, and we've gone mostly sideways as they've liquidated. That means the selling of physical has kept prices from "popping." Watching basis and spreads, I don't see a huge reason to hedge feed needs just yet. I'm riding the spot feed markets and going to use any pop we get as a way to hedge 2026 grain production.

-Fat cattle kill at 106,000 vs 87,000 a week ago and 96,000 a year ago

-Choice boxes up 2.52 to $369.22 and select up 3.57 to $364.31 for a spread of 4.91 on 75 loads

-CME feeder index(Feeder LRP Settlement) for 2/20 came in at $375.80

-Fed Cattle LRP’s ending last week settled at $246.62

-Hog kill at 489,000 vs 461,000 a week ago and 488,000 a year ago.

-Afternoon Pork reported up 1.79 at $97.40 on 239 loads

-CME lean hog index on 2/19 reported at 87.95

-CME pork cutout index on 2/20 reported at 96.07

-LRP’s ending 2/23 settled at approximately $88.16

Dan Gerhold

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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

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WEATHER 20/20 REPORT

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