Thursday Closing Livestock Market Update - Cattle Markets End Higher Thanks to Continued Trader Support

GENERAL COMMENTS:

By Thursday's close, the cattle contracts had successfully kept their higher position, but the lean hog complex ended the day lower. Still no cash cattle trade has developed. December corn is up 6 cents per bushel and December soybean meal is up $5.50. The Dow Jones Industrial Average is down 316.56 points and the NASDAQ is down 171.62 points.

LIVE CATTLE:

The live cattle contracts were pressured throughout the day, and at some points looked as though they might venture lower, but the market was able to sustain its higher position through Thursday's end thanks to traders' support. October live cattle closed $1.97 higher at $217.82, December live cattle closed $1.12 higher at $219.60 and February live cattle closed $0.82 higher at $221.15. The market still remains leery of challenging its 40-day moving average, and until something stronger develops fundamentally, traders will likely continue to dance just below that threshold, although the December live cattle contract did trade higher than that moving average for a little bit today. Still no cash cattle trade has developed, but bids of $340 to $348 were offered in Nebraska. But with packers able to gain more inventory last week, they aren't being as aggressive this week. 

Thursday's slaughter is estimated at 109,000 head -- 4,000 head more than a week ago and 10,000 head less than a year ago.

Boxed beef prices closed lower: choice down $2.40 ($378.37) and select down $0.28 ($352.06) with a movement of 114 loads (66.30 loads of choice, 9.88 loads of select, 18.40 loads of trim and 19.39 loads of ground beef).

FRIDAY'S CATTLE CALL: Steady. There's a chance that feedlot managers could hold the market steady as feedlots weren't overly aggressive about jumping at the bids offered on Thursday.

FEEDER CATTLE:

The feeder cattle contracts ended the day higher, feeling well supported by not only the market's stronger buyer demand in the countryside, but also upon seeing the live cattle contracts trading higher. September feeders closed $2.87 higher at $332.57, October feeders closed $1.72 higher at $327.55 and November feeders closed $1.42 higher at $322.77. At the Winter Livestock Auction in Pratt, Kansas, compared to last week, feeder steers weighing 650 to 1,000 pounds sold $15.00 to $30.00 higher. Not enough of a test was had on feeder heifers weighing 650 to 900 pounds for an accurate trend. Not enough steers and heifers under 650 pounds sold for an accurate trend either, but a steady to higher trend was noted. Slaughter cows and bulls sold $2.00 to $4.00 lower. Feeder cattle supply over 600 pounds was 73%. The CME feeder cattle index 9/9/2026: up $1.53, $328.96.

LEAN HOGS:

The lean hog complex continues to chop sideways, unable to break through the market's resistance thanks to a lack of fundamental support. And with pork cutout values lower again today, it's unlikely that traders will break that trend anytime soon. October lean hogs closed $0.07 higher at $83.15, December lean hogs closed $0.25 lower at $74.35 and February lean hogs closed $0.15 lower at $76.82. Pork cutouts totaled 308.85 loads, with 278.28 loads of pork cuts and 30.57 loads of trim. Pork cutout values: down $1.82, $91.81. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $0.39 with a weighted average price of $86.86 on 3,205 head. Thursday's slaughter is estimated at 493,000 head -- 37,000 head more than a week ago and 5,000 head more than a year ago. The CME lean hog index 9/8/2026: down $0.86, $88.79.

FRIDAY'S HOG CALL: Lower. It's likely that packers have fulfilled the vast majority of their needs already for the week.

Thursday Midday Livestock Market Summary - Weaker Tones Stick With Contracts as Traders Need More Support

GENERAL COMMENTS:

The livestock complex is trading mostly lower into Thursday's noon hour as traders continue to yearn for greater fundamental support. Bids of $340 to $348 are currently being offered in Nebraska, but no cattle have traded yet. December corn is up 5 1/4 cents per bushel and December soybean meal is up $4.70. The Dow Jones Industrial Average is down 297.82 points and NASDAQ is down 143.55 points.

LIVE CATTLE:

It's been another back-and-forth day for the live cattle complex, as traders continue to scratch their heads and ask: How much higher can we push the contracts without risking too much technical position during a time in which the market's fundamental support is minimal? This is why the live cattle contracts have gone back and forth Thursday morning, trading lower and then higher and now as the noon hour approaches, the contracts are back to trading lower. October live cattle are down $0.10 at $215.95, December live cattle are down $0.22 at $218.37 and February live cattle are down $0.65 at $219.80. The fed cash cattle market remains idle with only bids having surfaced so far in Nebraska. Currently, bids of $340 to $348 are on the table in Nebraska, but no cattle have traded yet. Asking prices are noted at $225 in the South, but are not well determined yet for the North. It looks as though the week's trade could be delayed until Friday.

Boxed beef prices are lower: choice down $2.97 ($377.80) and select down $0.69 ($351.65) with a movement of 83 loads (45.85 loads of choice, 8.09 loads of select, 15.43 loads of trim and 13.56 loads of ground beef).

FEEDER CATTLE:

Meanwhile the feeder cattle complex is trading mixed into Thursday's noon hour, as the market was grateful for the added support seen in Wednesday's market by a slight uptick in buyer demand in the countryside. But with the live cattle contracts uneasy, some of the nearby feeder cattle contracts are trading lower too. September feeders are down $0.17 at $329.52, October feeders are down $0.87 at $324.05 and November feeders are down $0.70 at $320.65.

LEAN HOGS :

The lean hog contracts are trading lower as the market simply doesn't see enough fundamental support in the complex to justifiably challenge the market's resistance. October lean hogs are up $0.15 at $83.22, December lean hogs are down $0.37 at $74.22 and February lean hogs are down $0.45 at $76.52. The projected lean hog index for 9/9/2026 is down $0.57 at $88.22 and the actual index for 9/8/2026 is down $0.86 at $88.79. Hog prices are unavailable on the Daily Direct Morning Hog Report because of confidentiality. However, we can see that only 670 head have traded and that the market's five-day rolling average now sits at $87.72. Pork cutouts total 178.31 loads with 156.31 loads of pork cuts and 22.00 loads of trim. Pork cutout values: down $2.20, $91.43.

Thursday Morning Livestock Market Update - Futures Should Find Some Strength

GENERAL COMMENTS:

The cattle market showed little fundamental direction. Live cattle could not find solid footing to push futures into positive territory. No cash cattle have traded, giving no indication of packer demand. The consensus is that cash may be steady this week. Boxed beef prices were mixed, with choice up $3.20 and select down $3.05. Mixed boxed beef prices have been common recently, keeping traders cautious. Packers will not be anxious to buy aggressively as it is a holiday-shortened week; they have some cattle purchased ahead and margins have improved.

Hog futures continued their choppiness, but have maintained a slightly higher bias. All contracts closed lower, but the December and later contracts closed near the day's highs. The National Daily Direct Afternoon Hog report showed a gain of $.90 with a weighted average price of $87.25. Pork cutout values increased by $1.81. Hog slaughter remains strong, and hog weights are down. The weekly average was 283.4 pounds, down 2.8 pounds. The lower hog numbers that had been anticipated over some time may now be showing up as packers have been pulling hogs forward to maintain the slaughter pace. This should provide support to the market.

	BULL SIDE		BEAR SIDE
1)	Cash cattle traded is expected to be no worse than steady this week. This should provide support to futures.	1)	Cash cattle may trade steady at best this week as packers may not need to be aggressive due to having cattle purchased ahead.
2)	Feeder cattle futures posted higher highs and higher lows on Wednesday, maintaining the recent uptrend.	2)	Traders remain cautious with the uncertainty over the impact of 300,000 metric tons (mt) of beef imports and what will be the outcome of the attempt to block it.
3)	Weekly hog weights declined 2.8 pounds to average 283.4 pounds. This is 2.9 pounds below a year ago. This is the largest weekly decline seen in some time.	3)	Both cash and cutout prices have difficulty finding consistent support. This may keep the upside price potential limited.
4)	Packers should be aggressive again Thursday, as they may want to take care of most of their hog purchases for the week.	4)	Even though hog weights have declined, packers continue to have sufficient market-ready hogs available.

Wednesday Closing Livestock Market Update - Stronger Feeder Cattle Demand Helps Feeder Cattle Contracts Close Higher

GENERAL COMMENTS:

It was another quiet day for the livestock complex, with an unsettled nature remaining in the live cattle and lean hog markets, but the feeder cattle contracts ended the day stronger thanks to more aggressive demand in the countryside. No cash cattle trade developed throughout the day. December corn is down 5 3/4 cents per bushel and December soybean meal is up $1.60. The Dow Jones Industrial Average is down 365.58 points and the NASDAQ is down 172.42 points.

LIVE CATTLE:

The live cattle complex ended the day mixed, with most of the nearby contracts ending the day lower while the deferred contracts ended the day higher. More than anything, the market simply wasn't willing to trade any higher without continued fundamental support. The fed cash cattle market didn't see any sizeable trade develop, but asking prices are noted at $225 in the South. It's likely that following last week's trade, packers have ample supply committed to them and could be harder to trade with. October live cattle closed $1.17 lower at $215.85, December live cattle closed $0.75 lower at $218.47 and February live cattle closed $0.12 lower at $220.32. 

Wednesday's slaughter is estimated at 109,000 head -- 9,000 head more than a week ago and 10,000 head less than a year ago.

Boxed beef prices closed mixed: choice up $3.20 ($380.77) and select down $3.05 ($352.34) with a movement of 143 loads (71.27 loads of choice, 20.68 loads of select, 31.91 loads of trim and 19.08 loads of ground beef).

THURSDAY'S CATTLE CALL: Steady. It's likely that the market will trade steady at best this week as packers have been able to secure supply in recent weeks.

FEEDER CATTLE:

Although the live cattle contracts closed mostly lower in their nearby months, the feeder cattle contracts were able to end the day higher thanks to traders recognizing the stronger demand in the countryside. September feeders closed $0.82 higher at $329.70, October feeders closed $0.37 higher at $325.82 and November feeders closed $0.90 higher at $321.35. At the Winter Livestock Auction in Dodge City, Kansas, compared to last week, heifers weighing 650 pounds or more sold steady to $3.00 higher. Steers and heifers under 650 pounds sold $20.00 higher. Feeder steers weren't well tested. Feeder cattle supply over 600 pounds was 59%. The CME feeder cattle index 9/8/2026: up $0.45, $327.43.

LEAN HOGS:

The lean hog complex ended the day lower too as traders simply remain on edge about challenging the market's nearby resistance. And while yes, pork cutout values ended the day higher, traders also want to see consistent support before they go up against much more pressure. October lean hogs closed $1.17 lower at $83.07, December lean hogs closed $0.45 lower at $74.60 and February lean hogs closed $0.67 lower at $76.97. Hog prices were higher on the Daily Direct Afternoon Hog Report, up $0.90 with a weighted average price of $87.25 on 5,568 head. Pork cutouts totaled 349.84 loads, with 313.02 loads of pork cuts and 36.82 loads of trim. Pork cutout values: up $1.81, $93.63. Wednesday's slaughter is estimated at 492,000 head -- 16,000 head more than a week ago and 1,000 head more than a year ago. The CME lean hog index 9/4/2026: down $0.89, $89.65.

THURSDAY'S HOG CALL: Steady. It's noteworthy that consumer demand remains strong, which could encourage packers to pay a little more in the cash market.