Tuesday Midday Livestock Market Summary - Pressure Continues to Build in Futures

GENERAL COMMENTS:

Mostly lower tones have taken over the livestock complex as there's simply not enough fundamental support in the market for traders to confidently push the contracts higher. Asking prices are noted at $248 in Texas; but otherwise nothing has developed in the cash cattle market. December corn is down 2 3/4 cents per bushel and December soybean meal is up $1.10. The Dow Jones Industrial Average is down 88.02 points and NASDAQ is up 223.81 points.

LIVE CATTLE:

With nothing seeming to develop in a positive manner from the market's fundamentals, traders have felt the technical side of the market's pressure long enough to decide that the day's only option is to trade lower -- sharply lower. August live cattle are down $2.92 at $231.80, October live cattle are down $2.57 at $228.05 and December live cattle are down $2.82 at $227.57. With the continued weakness in the complex, it's likely this week's cash market will trade lower too. No bids are on the table at this point but asking prices are noted at $248 in Texas. Otherwise the cash market remains quiet.

Boxed beef prices are mixed: choice down $0.01 ($375.60) and select up $0.70 ($365.87) with a movement of 51 loads (37.88 loads of choice, 4.58 loads of select, 3.73 loads of trim and 5.22 loads of ground beef).

FEEDER CATTLE:

The feeder cattle contracts are also trading lower as traders simply don't have a leg to confidently stand on right now. With there yet to be any test in the fed cash cattle market, lower tones seen in sale barns across the U.S., and the live cattle futures trading lower -- it's only logical the feeder cattle contracts would trade lower too. August feeders are down $5.00 at $349.22, September feeders are down $5.32 at $345.50 and October feeders are down $5.62 at $341.22.

LEAN HOGS:

The lean hog complex is trading mixed with its nearby contracts continuing to push a minor rally, while the rest of the contracts trade below steady prices. If midday pork cutout values were a tick stronger, then there's a chance prices may move higher; but traders need strong, unwavering fundamental support if they're going to trade around or above market resistance at $100.00. August lean hogs are up $0.05 at $98.15, October lean hogs are down $0.50 at $83.77 and December lean hogs are down $0.65 at $74.42.

The projected CME Lean Hog Index for 7/13/2026 is up $0.76 at $93.87 and the actual index for 7/10/2026 is up $0.42 at $93.11. Hog prices on the Daily Direct Morning Hog report average $96.87, ranging from $96.00 to $100.00 on 4,100 head and a five-day rolling average of $96.91. Pork cutouts total 160.33 loads with 150.99 loads of pork cuts and 9.34 loads of trim. Pork cutout values: down $0.10, $101.45.

Tuesday Morning Livestock Market Update - Cattle Futures Struggle to Find Support

GENERAL COMMENTS:

There was little news to set market direction. Bulls need to continue to be fed, and the lack of positive news recently has put pressure on the market. The reality of low cattle supplies has been a reality for a long time and is not sufficient to support the market itself. Demand is the key, and recently demand has faltered, as seen in boxed beef. Monday was exceptionally bearish for boxed beef, with choice falling $7.07 and select down $3.16. The continued weakness is likely to result in lower cash again this week. Live cattle futures are making a valiant effort to remain above support, but further pressure is likely as traders decide the fundamentals are stronger than the technicals. Feeder cattle futures moved in a $4.00 to $5.00 range during the day and ultimately closed lower, sending another bearish message to traders.

Hog futures fell back after posting a positive opening. The exception was the July contract, as it goes off the board on Wednesday. It is uncertain as to what increased the selling pressure as the day progressed, but futures closed lower, with December through June posting triple-digit losses. Both cash and cutouts were positive last week and should have provided support. Cash was positive on Monday with the National Daily Direct Afternoon Hog report posting a gain of $0.48 on moderate volume. Packers are likely to be aggressive again today. Pork cutout values increased $0.21.

	BULL SIDE		BEAR SIDE
1)	Live cattle futures have so far held above support. That may give traders confidence to buy into the market.	1)	The substantial decline in boxed beef, adding to already weak prices, may trigger further selling pressure on futures.
2)	Cattle futures are moving into an oversold status, which could trigger short-covering at some point.	2)	Beef demand has decreased and may continue to slow in the near term as hot weather impacts beef demand.
3)	August hog futures made a new high before falling back, keeping the uptrend intact. Later contracts fell back but held some of last week's gain.	3)	Traders remain cautious in the hog market, fearing that the recent strength in demand may be short-lived.
4)	Continued strength in cash and cutouts should provide further support to the market.	4)	The supply of market-ready hogs is sufficient, and when packers have most of their needs met for the week, cash is likely to decline.

Monday Closing Livestock Market Update - Traders Need Greater Fundamental Support

GENERAL COMMENTS:

All in all Monday came and went and not much materialized throughout Monday's trade for the livestock contracts as traders continue to desire to see greater fundamental support -- but it hasn't risen at this point. New showlists appear to be mixed, higher in Texas and Nebraska/Colorado, but lower in Kansas. December corn is up 2 1/4 cents per bushel and December soybean meal is down $3.70. The Dow Jones Industrial Average is down 138.37 points and the NASDAQ is down 408.43 points.

LIVE CATTLE:

The live cattle complex ended the day mixed with most of the market's nearby contracts closing higher, while the furthest deferred contracts closed lower. August live cattle closed $0.47 lower at $234.72, October live cattle closed $0.07 higher at $230.62 and December live cattle closed $0.12 higher at $230.40. More than anything traders weren't willing to do much with the live cattle complex throughout the day as traders first want to see what develops fundamentally this week in the cash market. New showlists appear to be mixed, higher in Texas and Nebraska/Colorado, but lower in Kansas. Monday's slaughter is estimated at 105,000 head -- 5,000 head more than a week ago and 6,000 head less than a year ago.

Last week Southern live cattle traded at $248, which is $7.00 lower than the previous week's weighted average. Northern dressed cattle traded at mostly $393, which is $10.00 lower than the previous week's weighted average.

Boxed beef prices closed lower: choice down $7.07 ($375.61) and select down $3.16 ($365.17) with a movement of 122 loads (87.15 loads of choice, 13.51 loads of select, 14.02 loads of trim and 7.60 loads of ground beef).

TUESDAY'S CATTLE CALL: Lower. Given that packers were able to get cattle bought cheaper last week and build up their inventory, it's likely that the market will trade lower again this week.

FEEDER CATTLE:

The feeder cattle complex wasn't mixed about its position by Monday's close -- the only direction the feeder cattle contracts went was lower throughout Monday's trade. August feeders closed $0.25 lower at $354.35, September feeders closed $0.20 lower at $350.82 and October feeders closed $0.50 lower at $346.85. And with the lower trend seen this afternoon in sale barns, it's likely that the lower trend will continue in the feeder cattle complex in the upcoming days. New showlists appear to be mixed, higher in Texas and Nebraska/Colorado, but lower in Kansas. At Joplin Regional Stockyards in Carthage, Missouri compared to last week feeder steers traded $5.00 to $20.00 lower and feeder heifers sold $3.00 to $15.00 lower. The CME feeder cattle index 7/10/2026: up $2.10, $372.52.

LEAN HOGS:

The lean hog contracts again fell short of surpassing the market's resistance at the $100 threshold as traders simply refuse to challenge that price point at this time. Luckily pork cutout values did close a tick higher -- which hopefully will remain the theme throughout the remainder of the week and give traders the fundamental support that they're looking for. August lean hogs closed $0.90 lower at $98.10, October lean hogs closed $0.80 lower at $84.27 and December lean hogs closed $1.17 lower at $75.07. Hog price closed higher on the Daily Direct Afternoon Hog Report, up $0.48 with a weighted average price of $98.78 on 3,085 head. Pork cutouts totaled 235.82 loads with 214.50 loads of pork cuts and 21.32 loads of trim. Pork cutout values: up $0.21, $101.55. Monday's slaughter is estimated at 464,000 head -- 1,000 head more than a week ago and 2,000 head less than a year ago. The CME lean hog index 7/9/2026: up $0.34, $92.69.

TUESDAY'S HOG CALL: Steady to somewhat higher. Prices closed higher Monday afternoon and if packers are still short bought, they could scale even higher on Tuesday.

Monday Midday Livestock Market Summary - Cattle Inch Higher Thanks to Greater Technical Support

GENERAL COMMENTS:

Livestock futures are mixed Monday as the cattle complex has found some mild support, but the lean hog complex hasn't been as fortunate.

New showlists appear to be mixed, higher in Texas and Nebraska/Colorado, but lower in Kansas. December corn is up 5 1/4 cents per bushel and December soybean meal is down $1.20. The Dow Jones Industrial Average is down 206.04 points and NASDAQ is down 314.36 points.

LIVE CATTLE:

After opening Monday slightly lower, live cattle futures have turned higher, hoping greater support will arise throughout the week. Unfortunately, last week boxed beef prices were mostly lower and fed cash cattle traded lower too, as the dog days of summer are having their effect on the cattle complex. But after plunging lower ten straight days, it's refreshing to see the live cattle contracts higher and hopefully trader support will remain through closing. August live cattle are up $0.57 at $235.77, October live cattle are up $1.27 at $231.82 and December live cattle are up $1.12 at $231.40.

Last week Southern live cattle traded at $248, which is $7.00 lower than the previous week's weighted average. Northern dressed cattle traded at mostly $393, which is $10.00 lower than the previous week's weighted average.

Boxed beef prices are lower: choice down $2.59 ($380.09) and select down $0.34 ($367.99) with a movement of 68 loads (54.47 loads of choice, 3.70 loads of select, 6.93 loads of trim and 3.13 loads of ground beef).

FEEDER CATTLE:

Upon seeing a little extra support in the live cattle contracts, the feeder cattle contracts are also trading higher into Monday's noon hour. August feeders are up $2.47 at $357.07, September feeders are up $2.12 at $353.15 and October feeders are up $1.75 at $349.10. Demand was mixed last week for feeder cattle, with a lot of sale barns noting that haying time has pulled some buyers out of the market.

LEAN HOGS:

The lean hog complex continues to trade mixed as the nearby contracts have found mild technical support this morning, while the rest of the contracts are trading slightly lower. August lean hogs are up $0.22 at $99.22, October lean hogs are down $0.35 at $84.75 and December lean hogs are down $0.62 at $75.62. Midday pork cutout values are a tick lower, but traders remain hopeful consumer support will be strong again this week and help encourage traders to continue to push the contracts higher. Unfortunately, the market's resistance at $100.00 in the spot August contract remains a brutal threshold for traders to try to maneuver. The projected CME Lean Hog Index for 7/10/2026 is up $0.42 at $93.11 and the actual index for 7/9/2026 is up $0.34 at $92.69. Hog prices are unavailable on the Daily Direct Morning Hog Report because of confidentiality. However, we can see only 328 head have traded and the market's five-day rolling average now sits at $96.92. Pork cutouts total 117.07 loads with 107.86 loads of pork cuts and 9.21 loads of trim. Pork cutout values: down $0.51, $100.83.