Monday Closing Livestock Market Update - Cattle Close Lower While Hogs Maintain a Minor Rally

GENERAL COMMENTS:

The livestock complex ended the day mixed with the lean hog contracts closing slightly higher thanks to continued trader support, but the cattle contracts ended the day softer. New showlists for the week are mostly steady in Texas and Nebraska, but higher in Kansas. December corn is up 6 1/4 cents per bushel and December soybean meal is up $2.40. The Dow Jones Industrial Average is down 272.63 points and the NASDAQ is down 84.25 points.

LIVE CATTLE:

Although the live cattle complex was trading higher at Monday's noon hour, the lack of fundamental support and traders' concern that the market may be challenged throughout the week kept traders from fully supporting the market. August live cattle closed $0.92 higher at $224.55, October live cattle closed $0.10 lower at $218.77 and December live cattle closed $0.02 higher at $218.40. But otherwise the rest of the deferred contracts all closed lower. New showlists for the week are mostly steady in Texas and Nebraska, but higher in Kansas. Monday's slaughter is estimated at 97,000 head -- 1,000 head more than a week ago and 2,000 head less than a year ago.

Last week Southern live cattle traded at $22, which is $7.00 lower than the previous week's weighted average and Northern dressed cattle traded at $365, which is $5.00 lower than the previous week's weighted average.

Boxed beef prices closed higher: choice up $4.27 ($379.57) and select up $13.02 ($364.26) with a movement of 81 loads (56.89 loads of choice, 14.92 loads of select, zero loads of trim and 8.72 loads of ground beef).

TUESDAY'S CATTLE CALL: Lower. Given that packers have regained leverage and have ample supply available to them, it's likely that this week's cash cattle trade will be steady at best.

FEEDER CATTLE:

The feeder cattle contracts ended the day mixed with most of the nearby contracts ending the day lower while the deferred contracts closed slightly higher. August feeders closed $0.85 lower at $339.97, September feeders closed $1.60 lower at $332.95 and October feeders closed $0.07 lower at $325.35. At Joplin Regional Stockyards in Joplin, Missouri, compared to last week feeder steers sold steady to $10.00 lower and feeder heifers traded $2.00 to $12.00 lower. Feeder cattle supply over 600 pounds was 76%. The CME feeder cattle index 8/14/2026: down $4.07, $344.43.

LEAN HOGS:

Although pork cutout values closed lower, traders continued to mildly support the lean hog contracts through Monday's end. October lean hogs closed $0.02 lower at $81.72, December lean hogs closed $0.05 higher at $72.52 and February lean hogs closed steady at $75.77. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $0.68 with a weighted average price of $92.62 on 2,365 head. Pork cutouts totaled 309.90 loads with 281.05 loads of pork cuts and 28.85 loads of trim. Pork cutout values: down $1.15, $98.75. Monday's slaughter is estimated at 484,000 head -- 19,000 head more than a week ago and 5,000 head more than a year ago. The CME lean hog index 8/13/2026: down $0.19, $95.68.

TUESDAY'S HOG CALL: Steady. The lean hog complex may see more packer interest on Tuesday, and prices may be a touch higher, but with consumer demand unstable, cash prices aren't likely to be significantly higher.

Monday Midday Livestock Market Summary - Futures Start Mixed

GENERAL COMMENTS:

The livestock complex is mixed trading into Monday's noon hour as the live cattle and lean hog contracts are mostly higher, but the feeder cattle contracts are lower. New showlists for the week are mostly steady in Texas and Nebraska, but higher in Kansas. December corn is up 6 1/4 cents per bushel and December soybean meal is up $2.50. The Dow Jones Industrial Average is down 161.89 points and NASDAQ is up 3.19 points.

LIVE CATTLE:

The live cattle complex is mostly higher trading into Monday's noon hour, but the market has traded back and forth throughout the morning as traders are trying to put their finger on where trade direction is headed next. August live cattle are up $0.95 at $224.57, October live cattle are down $0.02 at $218.85 and December live cattle are up $0.22 at $218.60.

The cash cattle market remains quiet at Monday's noon hour as no bids or asking prices have surfaced. New showlists for the week are mostly steady in Texas and Nebraska, but higher in Kansas. Last week Southern live cattle traded at $22, which is $7.00 lower than the previous week's weighted average and Northern dressed cattle traded at $365, which is $5.00 lower than the previous week's weighed average.

Boxed beef prices are higher: choice up $2.36 ($377.66) and select up $9.78 ($361.02) with a movement of 29 loads (20.57 loads of choice, 4.78 loads of select, zero loads of trim and 3.24 loads of ground beef).

FEEDER CATTLE:

While the live cattle complex may be seeing some minor support from traders, the feeder cattle complex is struggling to muster the same level of support Monday morning as its contracts are trading lower into the day's noon hour. More than likely the feeder cattle contracts are trading lower as traders simply aren't confident about the market's nearby future as the midterm elections are nearing, the border is set to begin to allow imports from Mexico starting next Monday, and headline news like what Tyson Foods shared last week (that they're closing two more beef plants and intend to sell another) continue to wreak havoc on the market's stability. August feeder cattle are down $0.57 at $340.25, September feeders are down $2.07 at $332.47 and October feeders are down $0.92 at $324.50.

LEAN HOGS:

The lean hog complex is enjoying a modest rally Monday morning as traders are helping support the contracts mildly, although midday pork cutout values are lower again. October lean hogs are steady at $81.75, December lean hogs are up $0.15 at $72.62 and February lean hogs are up $0.15 at $75.90. If the market is to sustain a rally throughout the week it's going to be vital that fundamental support improves, especially from consumers. The projected CMD Lean Hog Index for 8/14/2026 is down $0.21 at $95.47 and the actual index for 8/13/2026 is down $0.19 at $95.68. Hog prices are lower on the Daily Direct Morning Hog Report, down $1.35 with a weighted average price of $91.68, ranging from $91.00 to $97.00 on 1,463 head and a five-day rolling average of $95.80. Pork cutouts total 183.16 loads with 161.51 loads of pork cuts and 21.65 loads of trim. Pork cutout values: down $0.94, $98.96.

Monday Morning Livestock Market Update - Support May Remain Elusive

GENERAL COMMENTS:

The news of Tyson closing two processing facilities and putting another facility up for sale coupled with lower cash cattle trade, eliminated nearly $8.00 for live cattle futures and $9.00 from feeder cattle over the past week. We have seen this before, but seeing it happen after the market has already declined substantially since June 25 is difficult to swallow. Cash cattle traded lower, with Northern dressed cattle averaging $5.00 lower while Southern live cattle averaged $7.00 lower. Packers will further attempt to leverage the market this week as feedlots may have little influence for higher prices. Boxed beef prices were mixed on Friday with choice down $0.60 and select up $2.00. Feeder cattle cash prices in the country were lower for the week but held up rather well considering the losses on the board. The Commitment of Traders report showed fund traders adding 983 futures contracts, increasing their net-long position to 65,949. They added 582 long futures positions, increasing their net-long position in feeder cattle to 10,902 contracts.

Hog futures broke through and closed below support in the December and later contracts, making new contract lows. The market could not bind support after the large increase at the beginning of the week. The weakness of cash most of the week took futures below the trading range and showed that the discount the market held was warranted. The National Daily Direct Afternoon Hog report showed cash down $4.07 with light volume traded. Pork cutout values increased $0.98, but had little influence on the market. The Commitment of Traders report showed the fund traders as net sellers of 5,184 futures contracts, increasing their short position to 24,363 contracts.

	BULL SIDE		BEAR SIDE
1)	Much of the negative news of last week may have been factored in, possibly triggering some short-covering and buying interest.	1)	Further weakness in cattle futures may unfold as the market is in bearish downdraft with little positive news.
2)	Beef is in demand and cattle will need to be processed. Cattle will be shifted from closed plants to other plants operating below capacity.	2)	Beef packers have gained further leverage and will use it to their advantage to improve their margins.
3)	Hog futures falling below support may have triggered stops that pushed the market lower than necessary. It may have been overdone with futures correcting Monday.	3)	Hog futures falling to new contract lows will make it difficult for buyers to step into the market with confidence.
4)	Lower pork prices should stimulate demand.	4)	Cash hogs continue to show weakness, putting increased pressure on the market.

Friday Closing Livestock Market Update - Weakness Follows Contracts

GENERAL COMMENTS:

The livestock complex ended Friday softer as fundamental support was hard to come by this week. A few live cattle sales were noted at $228, which is $7.00 lower than last week's weighted average. December corn is up 11 1/4 cents per bushel and December soybean meal is up $2.30. The Dow Jones Industrial Average is down 107.58 points and NASDAQ is down 73.87 points.

From Friday-to-Friday livestock futures scored the following changes: August Live cattle down $8.07, October Live cattle down $6.40; August Feeder cattle down $10.83, September Feeder cattle down $10.68; August Lean hogs down $0.10, October Lean hogs down $0.47.

ANALYST'S NOTE REGARDING TYSON FOOD'S ANNOUNCEMENT:

Tyson's announcement of their plant closures in Joslin, Illinois, and Eagle Mountain, Utah, along with their intent to sell the plant in Pasco, Washington, proves one, very clear thing: The cattle complex is changing, and this is by no means the same marketplace cattlemen had a year ago, five years ago or even back in 2015.

From an immediate perspective, Tyson's announcement helps clarify why the board has been alarmingly soft over the last two trading days, as news travels fast and keeping headline news such as this under wraps rarely happens. It also solidifies the likeliness that the fed cash cattle market will trade lower in the upcoming weeks, which could also affect feeder cattle prices.

From a long-term perspective, Tyson's announcement becomes a much more difficult topic to table as it's multifaceted. On one hand, one must understand the plants built in the 1960s are simply not as efficient as the plants entering the marketplace today, like the Sustainable Beef Plant in North Platte, Nebraska, (opened in May 2025) or like the Producer Owned Beef plant currently under construction in Amarillo, Texas. Given the historically low cow herd the U.S. sits with, it's no secret that ensuring a profit in the packing sector has been a difficult endeavor over the last two years and could remain challenging until domestic supplies increase. Secondly, from a grassroots perspective, this is eerie news to stomach as keeping enough shackle space open for however large the U.S. cow herd builds back to remains a pressing issue for cattlemen who are considering growing their herds.

Regardless of where you operate in the supply chain -- whether you're a cow-calf operator in the grasslands of Montana, a stocker in Kansas, or a fellow packer -- this announcement grabs your attention and demands consequential thought. But there's one major theme that continues to live on and is embedded in the cattle complex of our day and age: The business is chock full of risk and is subject to nauseating headlines that can gravely derail the market's trajectory and stability. 

LIVE CATTLE:

All in all it was a depressing day for the live cattle complex as the contracts drifted lower through Friday's end as they found virtually no fundamental support in the market this week. It was a rough week for the live cattle complex as not only did the futures market trade lower, but fed cash cattle prices did too and Tyson announced they'd be closing two beef plants (Joslin, Illinois, and Eagle Mountain, Utah) and intend to sell the plant in Pasco, Washington; all of which put significant down pressure on the market. August live cattle closed $2.60 lower at $223.62, October live cattle closed $1.17 lower at $218.87 and December live cattle closed $1.07 lower at $218.37. At the time of this writing only a handful of cattle had traded in the South, but Southern live cattle were marked at $228 which is $7.00 lower than the previous week's weighted average and Northern dressed cattle traded at mostly $365 throughout the week which is $5.00 lower than the previous week's weighted average. 

Friday's slaughter is estimated at 100,000 head -- 5,000 head more than a week ago and 17,000 head more than a year ago. Saturday's slaughter is projected to be around 1,000 head. The week's total slaughter is estimated at 517,000 head -- 8,000 head more than a week ago and 18,000 head less than a year ago.

Boxed beef prices closed mixed: choice down $0.60 ($375.30) and select up $2.00 ($351.24) with a movement of 76 loads (53.34 loads of choice, 4.32 loads of select, 7.72 loads of trim and 10.76 loads of ground beef).

MONDAY'S CATTLE CALL: Lower. With packers gaining more control in the marketplace, it's likely that prices are going to be lower in the upcoming weeks.

FEEDER CATTLE:

The feeder cattle contracts kept with their lower trend through Friday's end as the market came up short in finding the support it desperately needed. August feeders closed $2.00 lower at $340.82, September feeders closed $2.65 lower at $334.55 and October feeders closed $3.37 lower at $325.42. The Oklahoma Weekly Cattle Auction Summary shared that compared to last week feeder steers and heifers traded unevenly steady. Steer calves over 450 pounds sold steady, but those under 450 pounds traded $10.00 to $12.00 higher. Heifer claves sold steady to $4.00 lower. Slaughter cows sold steady to $3.00 lower and slaughter bulls traded $1.00 lower. Feeder cattle supply over 600 pounds was 63%. The CME Feeder Cattle Index 8/13/2026: down $3.43, $348.50.

LEAN HOGS:

While, yes, consumer demand may have improved slightly throughout Friday, that was simply too late in the week for the support to add much to the complex. October lean hogs closed $0.37 lower at $81.75, December lean hogs closed $0.62 lower at $72.47 and February lean hogs closed $0.47 lower at $75.77. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $4.07 with a weighted average price of $93.30 on 610 head. Pork cutouts totaled 352.75 loads with 324.89 loads of pork cuts and 27.87 loads of trim. Pork cutout values: up $0.98, $99.90. Friday's slaughter is estimated at 420,000 head -- 35,000 head more than a week ago and 39,000 head less than a year ago. Saturday's slaughter is projected to be around 18,000 head. The CME Lean Hog Index 8/12/2026: down $0.02, $95.87.

MONDAY'S HOG CALL: Lower. Given that demand was soft throughout most of the week, it's likely packers won't be aggressive early in the week.