Monday Midday Livestock Market Summary - Cattle Contracts Tick Higher

GENERAL COMMENTS:

The livestock complex is off to a mixed start: cattle contracts are trading higher, while the lean hog complex is mixed. Showlists for the week are mixed as showlists are higher in Texas and Nebraska, but lower in Kansas. December corn is up 6 1/4 cents per bushel and December soybean meal is up $7.20. The Dow Jones Industrial Average is down 124.73 points and the NASDAQ is up 173.31 points.

LIVE CATTLE:

Following last week's disappointing trade, the live cattle contracts are trading higher into the fresh new week as traders are lending the market some additional support. August live cattle are up $1.70 at $226.12, October live cattle are up $2.02 at $222.75 and December live cattle are up $1.92 at $222.45. What remains unclear at this point is how long the technical support will last. And most likely it will hinge on whether or not any fundamental support develops later this week from either boxed beef prices or the fed cash cattle market. Showlists for the week are mixed as showlists are higher in Texas and Nebraska, but lower in Kansas.

Last week, Southern live cattle traded at mostly $237 to $238, which is $10.00 to $11.00 lower than the previous week's weighted average and Northern dressed cattle traded at mostly $377 to $380, which is $12.00 to $15.00 lower than the previous week's weighted average.

Boxed beef prices are higher: choice up $2.51 ($369.32) and select up $0.76 ($356.05) with a movement of 44 loads (24.55 loads of choice, 3.27 loads of select, 7.04 loads of trim and 8.64 loads of ground beef).

FEEDER CATTLE:

The feeder cattle complex is also trading higher into midday Monday as the market is happy to follow the live cattle contracts higher into the new week. It's yet to be seen whether or not this technical support will remain for more than just a day's worth of trade, but it's a pleasant surprise for Monday's kickoff nonetheless. August feeder cattle are up $4.30 at $350.12, September feeders are up $5.12 at $344.47 and October feeders are up $5.15 at $337.97.

LEAN HOGS:

The lean hog complex is trading mixed into midday Monday as the nearby contracts are hesitant and trading lower, but the deferred contracts are trading higher. August lean hogs are down $0.37 at $101.27, October lean hogs are down $0.20 at $87.75 and December lean hogs are up $0.22 at $79.00. If consumer support happens to strengthen later in the week, then there's a strong chance that traders could become more supportive of the contracts as they were last week.

The projected lean hog index for 7/17/2026 is up $0.51 at $96.16 and the actual index for 7/16/2026 is up $0.55 at $95.65. Hog prices are not available on the Daily Direct Morning Hog Report because of confidentiality issues. However, we can see that only 198 head have traded and that the market's five-day rolling average now sits at $99.80. Pork cutouts total 152.84 loads with 125.59 loads of pork cuts and 27.25 loads of trim. Pork cutout values: down $0.73, $103.68.

Monday Morning Livestock Market Update - Selling Pressure May Continue in Cattle Futures

GENERAL COMMENTS:

Cattle futures continued to fall, with new lows made in live cattle. The October, December and February contracts fell below support, adding to the technical bearishness. Packers lowered their bids last week, and feedlots moved cattle. Southern live cattle traded $10.00 to $11.00 lower, with Northern dressed cattle $12.00 to $15.00 lower. Cash had declined nearly $25.00 over the past month. Adding to the bearishness was the decline in boxed beef, with choice down $1.57 and select down $0.40 on Friday. Over the past month, choice cutouts have declined $31.20. The weakness of cash and boxed beef is likely to put further pressure on cash cattle and cattle futures. The Commitment of Traders report showed fund traders reducing their long cattle positions in live cattle by 4,532 futures contracts to a net-long position of 114,908. They reduced their net-long positions in feeder cattle futures by 1,041 contracts to a net long of 14,566.

Hogs had another positive day in the August through April contracts, with the August and October posting triple-digit gains. Hog futures have come to life over the past month and may continue to show further strength. Pork demand has improved, and packers have become more aggressive in their purchases as there is some evidence of reduced market-ready hogs. The National Daily Direct Afternoon Hog report showed cash down $ 0.94 on moderate volume, as most of the required hogs had been purchased for the week. Packers may be aggressive to begin the week. Pork cutout values increased $1.99 with gains in all categories except ribs. The Commitment of Traders report showed fund traders as net sellers, increasing their short positions to 40,390. This may leave substantial room for further short-covering.

	BULL SIDE		BEAR SIDE
1)	Cattle futures are oversold and could see some short covering at any point in time.	1)	Cash cattle trade is expected to be lower again this week as packers pull back amid weakness in boxed beef.
2)	Cattle supplies remain low, and beef demand will return once the summer-season decline runs its course.	2)	Cattle futures closed below support on Friday, with feeder cattle not far behind. This may result in further long liquidation.
3)	Pork demand has improved, resulting in packers being more aggressive in purchasing hogs.	3)	Hog futures have had strong gains and may be at levels that may trigger selling.
4)	The combination of reduced market-ready hogs and increasing pork cutout prices has turned the market bullish. Further short-covering should take place.	4)	If weakness in boxed beef surfaces, the current bullish attitude may temper and long liquidation might take place.

Friday Closing Livestock Market Update - Week's Trend Continued as Cattle Sank Lower While Hogs Rallied

GENERAL COMMENTS:

The livestock complex ended the day in the same manner in which it's traded all week with the cattle complex being softer but the lean hog complex was able to rally. No new cash cattle trade developed throughout the day. December corn is up 3 1/2 cents per bushel and December soybean meal is down $3.90. The Dow Jones Industrial Average is down 406.55 points and the NASDAQ is down 361.71 points.

From Friday-to-Friday livestock futures scored the following changes: August live cattle down $10.78, October live cattle down $9.85; August feeder cattle down $8.65, September feeder cattle down $11.68; August lean hogs up $2.65, October lean hogs up $2.88; September corn up $0.05, December corn up $0.06.

LIVE CATTLE:

Friday's action was no different from the rest of the week for the live cattle complex as the contracts continued to drift lower through the week's end as not enough support is arising in the marketplace. August live cattle closed $2.65 lower at $224.42, October live cattle closed $2.57 lower at $220.70 and December live cattle closed $2.67 lower at $220.52. No more cash cattle trade developed throughout the day.

Throughout the week, Northern dressed cattle have traded from $370 to $385, but most at $377 to $380, which is $12.00 to $15.00 lower than the previous week's weighted average. Southern live cattle have been traded at mostly $237 to $238, which is $10.00 to $11.00 lower than last week's weighted average.

Friday's slaughter is estimated at 89,000 head -- 10,000 head less than a week ago and 11,000 head less than a year ago. Saturday's slaughter is projected to be around 3,000 head. The week's total slaughter is estimated at 525,000 head -- 4,000 head less than a week ago and 42,000 head less than a year ago.

Boxed beef prices closed lower: choice down $1.57 ($366.81) and select down $0.40 ($355.29) with a movement of 111 loads (59.82 loads of choice, 12.29 loads of select, 10.02 loads of trim and 29.05 loads of ground beef).

MONDAY'S CATTLE CALL: Lower. Until something changes in terms of support -- the cash market is likely going to continue to trade lower.

FEEDER CATTLE:

The feeder cattle complex kept with its same trend throughout the day as well -- ending the day on a weaker note as not enough support is surfacing in the marketplace. August feeders closed $0.65 lower at $345.95, September feeders closed $1.00 lower at $339.35 and October feeders closed $1.62 lower at $332.82. The Oklahoma Weekly Cattle Auction Summary shared that compared to last week feeder steers over 800 pounds sold $1.00 to $3.00 higher, while steers under 800 pounds traded $5.00 to $10.00 lower. Feeder heifers sold $5.00 to $10.00 lower except those weighing 600 to 700 pounds which traded $10.00 to $20.00 lower. Steer calves over 500 pounds sold $4.00 to $5.00 lower but steers under 500 pounds traded steady. Heifer calves sold $10.00 to $15.00 lower. Feeder cattle supply over 600 pounds was 67%. The CME feeder cattle index 7/16/2026: down $1.49, $364.03.

LEAN HOGS:

The lean hog contracts rallied boldly through Friday's end -- not letting the preexisting resistance pressure hold the market back. Because with continued support from consumers -- traders had all the support they needed to continue to drive the contracts higher through Friday's end. August lean hogs closed $1.37 higher at $101.65, October lean hogs closed $1.02 higher at $87.95 and December lean hogs closed $0.82 higher at $78.77. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $0.94 with a weighted average price of $99.32 on 2,612 head. Pork cutouts totaled 267.73 loads with 246.73 loads of pork cuts and 20.99 loads of trim. Pork cutout values: up $1.99, $104.41. Friday's slaughter is estimated at 443,000 head -- 3,000 head less than a week ago and 15,000 head less than a year ago. Saturday's slaughter is projected to be around 17,000 head. The CME lean hog index 7/15/2026: up $0.50, $95.10.

MONDAY'S HOG CALL: Steady to somewhat higher. With strong demand, packers may be active early again in next week's cash market.

Friday Midday Livestock Market Update - Cattle Fall Lower, While Hogs Keep Rallying

GENERAL COMMENTS:

The livestock complex is keeping with its mixed trend through Friday's as the cattle contracts are still sinking lower while the hog complex rallies mildly. No new cash cattle trade has developed and it's looking like the bulk of this week's business is done. December corn is up 2 cents per bushel and December soybean meal is down $2.90. The Dow Jones Industrial Average is down 145.93 points and NASDAQ is down 315.95 points.

LIVE CATTLE:

Yes, midday boxed beef prices may be a tick higher; but that's simply not enough support to mean much to the cattle complex at this point. August live cattle are down $2.10 at $224.97, October live cattle are down $2.05 at $221.22 and December live cattle are down $2.37 at $220.82. No new action has developed in the fed cash cattle market and it looks like business is essentially done for the week. Throughout the week, Northern dressed cattle have traded from $370 to $385, but most at $377 to $380, which is $12.00 to $15.00 lower than the previous week's weighted average. Southern live cattle have been traded at mostly $237 to $238, which is $10.00 to $11.00 lower than last week's weighted average.

Boxed beef prices are higher: choice up $0.31 ($368.69) and select up $0.66 ($356.35) with a movement of 74 loads (40.23 loads of choice, 6.39 loads of select, 9.73 loads of trim and 17.97 loads of ground beef).

FEEDER CATTLE:

In keeping alignment with the week's trend, the feeder cattle contracts are yet again trailing lower. August feeders are down $1.15 at $345.45, September feeders are down $2.10 at $338.25 and October feeders are down $3.17 at $331.27. At this point -- with the futures market still trading lower and the fed cash cattle market trading significantly lower -- there's very little chance prices improve before Friday's close.

LEAN HOGS:

The lean hog complex is continuing to grind higher -- pleased with continued support from consumers and thankful enough trader support has worked its way into the market to conquer resistance levels. August lean hogs are up $1.40 at $101.67, October lean hogs are up $1.05 at $87.97 and December lean hogs are up $0.70 at $78.65. With the next resistance point far off in the horizon, it's likely the contracts will be able to keep with their rally through the week's end.

The projected CME Lean Hog Index for 7/16/2026 is up $0.55 at $95.65, and the actual index for 7/15/2026 is up $0.50 at $95.10. Hog prices are lower on the Daily Direct Morning Hog Report, down $3.49 with a weighted average price of $96.68, ranging from $96.00 to $97.00 on 542 head and a five-day rolling average of $99.80. Pork cutouts total 178.26 loads with 166.75 loads of pork cuts and 11.50 loads of trim. Pork cutout values: up $2.85, $105.27.