Tuesday Midday Livestock Market Summary - Mixed Tones Take Over Livestock Complex

Livestock contracts are trading mixed into Tuesday's noon hour. The cattle contracts would love to trade fully higher but continue to look for increased fundamental support. The lean hog contracts are trading fully higher as technical and fundamental support are both alive and well in the marketplace. December corn is up 1 1/2 cents per bushel and December soybean meal is up $3.80. The Dow Jones Industrial Average is up 494.48 points and NASDAQ is up 332.17 points.

LIVE CATTLE:

The live cattle contracts are mixed heading into Tuesday's noon hour as the nearby contracts are hesitant, but the deferred contracts are again being fueled by trader support and the hope that market fundamentals may improve later this week. No cash cattle trade has developed yet and both bids and asking prices remain elusive at this point. It is assumed since packers were able to gain leverage in the market over the last couple of weeks, cash prices will be steady at absolute best this week when trade does develop. August live cattle are down $0.07 at $226.45, October live cattle are down $0.35 at $222.95 and December live cattle are down $0.20 at $222.80.

Boxed beef prices are mixed: choice down $1.02 ($369.08) and select up $0.55 ($356.00) with a movement of 89 loads (54.10 loads of choice, 8.74 loads of select, 12.51 loads of trim and 13.80 loads of ground beef).

FEEDER CATTLE:

To no one's surprise, with the live cattle complex trading mixed, so is the feeder cattle complex heading into Tuesday's noon hour. August feeders are down $2.72 at $349.27, September feeders are down $1.42 at $344.82 and October feeders are down $0.50 at $339.32. The market has plenty of room to trade higher before it will run into resistance pressure at the 40-day and 100-day moving averages.

LEAN HOGS:

The lean hog complex is continuing to trade higher into Tuesday's noon hour as the market is pleasantly surprised by the $2.00 jump in pork cutouts and will always gladly take the extra support. August lean hogs are up 0.42 at $101.70, October lean hogs are up $0.62 at $88.35 and December lean hogs are up $0.45 at $79.52. The market's next resistance threshold is at $92.50 in the spot October contract. The projected CME Lean Hog Index is delayed from the source. Hog prices average $98.13 on the Daily Direct Morning Hog Report, ranging from $94.00 to $100.00 on 411 head and a five-day rolling average of $100.46. Pork cutouts total 156.90 loads with 131.13 loads of pork cuts and 25.78 loads of trim. Pork cutout values: up $2.00, $105.10.

Tuesday Morning Livestock Market Update - Bounce May Trigger Further Liquidation

GENERAL COMMENTS:

Cattle futures have been significantly oversold. Short-covering likely spread through the market, resulting in live cattle contracts closing back above the support level penetrated on Friday. The downtrend remains intact, but the market bounce may slow the selling and finally find support. Boxed beef prices were higher after significant weakness over the past few weeks. Choice boxed beef increased $3.29, with select up $0.16. The strength on Monday does not mean the market has found a bottom, but it does provide hope that liquidation may slow with prices low enough to increase buying interest again. After all, cattle supplies remain tight, and demand is likely to improve over time. Futures price activity may be sideways this week as traders look ahead to the Cattle on Feed report to be released on Friday.

Hog futures were slightly lower in the nearby contracts, but futures held their recent gains. Traders have become more optimistic over demand, which may continue to support the market. Packers were not as aggressive on Monday, with the National Daily Direct Afternoon Hog report down $0.43 with a moderate volume of hogs traded. They are likely to be more aggressive today. Pork cutout values declined $1.31, averaging $103.10. Slaughter has been lower the past few days, which may be a combination of packing plant problems and less availability of market-ready hogs.

	BULL SIDE		BEAR SIDE
1)	Cattle futures may see further short-covering as they correct from being oversold.	1)	Even with the bounce on Monday, cattle futures remain in a downtrend. The bounce on Monday may increase selling interest as it provides an opportunity to liquidate at a higher price.
2)	Traders are not likely to press the market much lower ahead of the Cattle on Feed report to be released on Friday.	2)	Cash is expected to trade lower again this week as feedlots may not be willing to hold heavy-weight cattle any longer.
3)	Hogs held well on Monday and are maintaining the uptrend. The optimism over pork demand has improved and should support the market.	3)	Hog futures have had nice gains, but may run out of steam if cash or cutouts fail to trend higher.
4)	Packers are expected to be more aggressive with purchasing hogs today as they want to procure hogs sooner rather than later.	4)	Now that hog futures have retraced significantly from the lows, the market may trade sideways without further bullish news.

Monday Closing Livestock Market Update - Complex Closes Mostly Higher on Increased Trader Support

GENERAL COMMENTS:

The livestock complex ended the day mostly higher thanks to increased trader support. Showlists for the week are mixed as showlists are higher in Texas and Nebraska, but lower in Kansas. December corn is up 5 1/2 cents per bushel and December soybean meal is up $5.30. The Dow Jones Industrial Average is down 298.15 points and the NASDAQ is up 3.62 points.

LIVE CATTLE:

With the help of greater trader support, the live cattle contacts were able to end the day higher, which is a successful feat given that the market hasn't seen a higher close in over the last 15 trading days. More than anything, today's success is merely from the support of traders, and it's likely that if fundamental support doesn't arise later this week, the futures complex will again come under pressure. August live cattle closed $2.10 higher at $226.52, October live cattle closed $2.60 higher at $223.30 and December live cattle closed $2.47 higher at $223.00. No cash cattle trade developed throughout the day, and both bids and asking prices remain elusive at this point. Showlists for the week are mixed as showlists are higher in Texas and Nebraska, but lower in Kansas. Monday's slaughter is estimated at 106,000 head -- 1,000 head more than a week ago and 2,000 head more than a year ago.

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 closed higher: choice up $3.29 ($370.10) and select up $0.16 ($355.45) with a movement of 77 loads (40.51 loads of choice, 11.33 loads of select, 11.08 loads of trim and 14.19 loads of ground beef).

TUESDAY'S CATTLE CALL: Lower. Given that packers have successfully built up some supply, it's likely that they'll be able to push prices lower again this week.

FEEDER CATTLE:

With a little extra support from the live cattle complex and traders, the feeder cattle contracts were able to end the day higher with a sizeable $5.00 to $7.00 rally seen at Monday's close. August feeders closed $6.05 higher at $352.00, September feeders closed $6.90 higher at $346.25 and October feeders closed $7.00 higher at $339.82. At the Oklahoma National Stockyards in Oklahoma City, Oklahoma, compared last week and at their mid-session point, feeder steers and heifers were trading $15.00 to $25.00 lower. Steer and heifer calves were selling $20.00 to $30.00 lower, with spots up to $40.00 lower. Feeder cattle supply over 600 pounds was 62%. The CME feeder cattle index 7/17/2026: down $4.32, $359.71.

LEAN HOGS:

Aside from a couple of the nearby contracts, the lean hog complex also ended the day higher. More than anything, what likely held the nearby contracts from closing higher was the fact that pork cutout values were weaker at Monday's end. If demand becomes support later this week, likely all the contracts will again trade higher. August lean hogs closed $0.37 lower at $101.27, October lean hogs closed $0.22 lower at $87.27 and December lean hogs closed $0.30 higher at $79.07. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $0.43 with a weighted average price of $98.89 on 4,051 head. Pork cutouts totaled 238.48 loads with 203.18 loads of pork cuts and 35.30 loads of trim. Pork cutout values: down $1.31, $103.10. Monday's slaughter is estimated at 440,000 head -- 3,000 head less than a week ago and 7,000 head less than a year ago. The CME lean hog index 7/16/2026: not available at this time.

TUESDAY'S HOG CALL: Steady to somewhat higher. Given that packer demand wasn't very strong on Monday, it's likely that interest will improve on Tuesday.

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.