Tuesday Midday Livestock Market Summary - Cattle Futures Continue Higher

GENERAL COMMENTS:

Strong triple-digit gains have redeveloped in all cattle trade, with feeder cattle futures leading the shift higher and prices holding a $3-per-cwt rally through most nearby contracts at midday. Lean hog futures remain under light to moderate pressure with ample supply of hogs available for packers' needs. This is not only limiting cash hog prices but also limiting pork values heading into April. May corn is up 2 1/2 at $4.583 and May soybean meal is up $1.40 at $316.3. The Dow Jones Industrial Average is up 493.04 at 45,709.18.

LIVE CATTLE:

Live cattle futures continue to move higher with trade gaining on technical support as nearby contracts near contract highs. The ability to continue to push boxed beef prices higher as they near $400 per cwt is adding even more momentum to the live cattle complex. The combination of already tight supplies and potential cow losses due to Nebraska fires and feed shortages due to drought conditions could add more momentum to the market in the coming days and weeks. Cash cattle markets are still quiet with a very slow start to the day this Tuesday morning in cash cattle country, with bids and asking prices not established. Significant trade volume will likely be delayed until Wednesday or more likely later in the week. April live cattle are $1.60 higher at $241.15, June live cattle are $1.20 higher at $241.4 and August live cattle are $1.25 higher at $238.55. 

Boxed beef prices are Higher: choice up $2.34 ($396.44) and select up $3.78 ($394.79) with a movement of 50.25 loads (36.36 loads of choice, 6.30 loads of select, zero loads of trim and 7.59 loads of ground beef).

FEEDER CATTLE:

Feeder cattle futures surged higher, with April through August futures posting gains above $3 per cwt at midday. This continued momentum in all cattle markets is sparking additional fundamental and technical buying through the entire complex. It is expected that additional market support will be seen through the end of the day as traders look to end the month of March and first quarter on a positive note. April feeders are $3.23 higher at $366.525, May feeders are $3.18 higher at $364.5 and August feeders are $2.95 higher at $362.55.

LEAN HOGS:

Lean hog futures are the one area of livestock trade that is not posting active, aggressive gains Tuesday morning. Spot April contracts are lightly traded and holding single-digit losses, while most of the focus is on the June contracts due to overall limited open interest in the May lean hog contracts. Once April contracts expire, the majority of trade will then be focused on June contracts, which are currently trading $14 per cwt above the April market. This could help to bring about some additional cash market support, but the overall outlook in the lean hog complex remains cautious at best, given current pork demand, while supplies of market-ready or near market-ready hogs remain readily available. April lean hogs are $0.10 lower at $90.375, May lean hogs are $0.75 lower at $96.375 and June lean hogs are $0.95 lower at $104.925. Hog Prices are lower on the Daily Direct Morning Hog report, down $0.23 with a weighted average of $90.37, ranging from $88.00 to $91.00 on 3,104 head with a five-day rolling average of $90.72. Pork Cutouts totaled 185.54 loads with 155.12 loads of pork cuts and 30.42 loads of trim. Pork cutout values are down $1.55 at $97.08.

Tuesday Morning Livestock Market Update - Technical Trade Provides Support

GENERAL COMMENTS:

The June and August live cattle contracts close above technical resistance and are on their way to closing the chart gaps and revisiting contract highs. Traders have regained confidence in higher cattle prices as numbers remain tight. The wildfires in Nebraska and the drought in a significant portion of cattle country may tighten supplies even more as time progresses. Some cattle have already been sold and will be sold if the drought continues in those areas. This will delay the rebuilding of the cattle herd and may further tighten supplies. There will be more emphasis on beef-on-dairy cattle supplies, driving those prices higher than they already are. The boxed beef prices were higher, with choice up $1.13 and select up $1.14.

Hog futures had little to show at the end of the day, with contracts closing slightly lower. The good news is they held the recent gains, but without outside fundamental support, traders will look to cash and cutouts for direction. Packers got an early start to the week and bid higher for hogs. The holiday-shortened week may keep them more aggressive early. The National Daily Direct Afternoon hog report showed cash up $0.40 on a good amount of hogs purchased. Cash is expected to be higher Tuesday as packers remain aggressive. Pork cutout values increased by $1.01, but continued gains need to be seen, or hog futures may flounder. The increased slaughter pace continues, indicating strong demand.

	BULL SIDE		BEAR SIDE
1)	The June and August live cattle contracts moved into the chart gaps that remained since Oct. 17, 2025, and are poised to close those gaps.	1)	Packers have some cattle purchased ahead for this week and next week, and may not be aggressive due to the holiday-shortened week.
2)	The June and July live cattle contracts closed above technical resistance and are expected to revisit the contract highs of Oct. 16, 2025.	2)	Boxed beef prices may again reach a threshold around the $400 level and may find consumer resistance as fuel prices escalate.
3)	Hog futures held the recent gains with only minimal losses. Traders are willing to support the market.	3)	Cash hogs and cutout prices have yet to find consistent support. This will keep traders' buying interest limited.
4)	The continued strong slaughter pace will keep hogs current and may eventually tighten supplies.	4)	Hog supplies remain plentiful, with packers able to obtain the hogs they need for increased slaughter without difficulty.

Monday Closing Livestock Market Update - Traders Help Drive Cattle Contracts Higher

GENERAL COMMENTS:

With more than enough support being evident throughout Monday's trade, the livestock contracts successfully rounded out the day higher. New showlists appear to be somewhat lower in Texas and even smaller in Nebraska and Kansas. May corn is down 6 1/4 cents per bushel and May soybean meal is down $0.40. The Dow Jones Industrial Average is up 29.37 points and the NASDAQ is down 186.61 points.

LIVE CATTLE:

The live cattle complex experienced another fruitful day, with the market well supported by both its fundamental and technical sectors. April live cattle closed $1.05 higher at $239.55, June live cattle closed $1.42 higher at $240.20 and August live cattle closed $1.25 higher at $237.30. More than anything, traders saw the bullish momentum rebuilt in the marketplace and wanted to keep that fire burning throughout Monday's trade. And it did help matters that last week fed cash cattle prices traded mostly steady and that boxed beef prices closed higher this afternoon.

New showlists appear to be somewhat lower in Texas and even smaller in Nebraska and Kansas. Monday's slaughter is estimated at 109,000 head, 4,000 head more than a week ago and 6,000 head more than a year ago.

Last week Northern dressed sales were marked at mostly $372, which is steady with last week's weighted average, and it wasn't until late in the day on Friday that some live cattle sales were reported in the South at $233 to $235, which is steady to $1.00 lower than the previous week's weighted average.

Boxed beef prices closed higher: choice up $1.13 ($394.10) and select up $1.14 ($391.01) with a movement of 77 loads (46.46 loads of choice, 11.60 loads of select, 10.91 loads of trim and 8.38 loads of ground beef).

TUESDAY'S CATTLE CALL: Steady to somewhat higher. The fed cash cattle market may be able to trade steady if not a tick higher again this week if boxed beef demand remains strong.

FEEDER CATTLE:

The feeder cattle complex experienced a notable rally throughout Monday's trade, as traders once again felt that there was sufficient support in the market to push the contracts higher confidently. April feeders closed $1.85 higher at $363.30, May feeders closed $1.50 higher at $361.32 and August feeders closed $1.80 higher at $359.60. At Joplin Regional Stockyards in Carthage, Missouri, compared to last week and at their midsession point, feeder steers under 475 pounds were selling $10.00 to $35.00 lower, but weights over 475 pounds were trading $5.00 to $20.00 higher. Feeder heifers were selling anywhere from $6.00 lower to $10.00 higher. Feeder cattle supply over 600 pounds was 73%. The CME feeder cattle index 3/27/2026: up $2.14, $365.12.

LEAN HOGS:

The lean hog complex closed mostly lower Monday afternoon as traders yearn to see continued fundamental support before they advance the contracts anymore. But thankfully, with how strong both pork prices and cash prices closed Monday afternoon, there's a chance that Tuesday's market will be able to trade higher. April lean hogs closed $0.30 lower at $90.47, June lean hogs closed $0.25 lower at $105.87 and July lean hogs closed $0.12 lower at $108.70. Hog prices closed higher on the Daily Direct Afternoon Hog Report, up $0.40 with a weighted average price of $90.92 on 4,015 head. Pork cutouts totaled 258.80 loads with 222.73 loads of pork cuts and 36.06 loads of trim. Pork cutout values: up $1.01, $97.57. Monday's slaughter is estimated at 496,000 head, 4,000 head more than a week ago and 35,000 head more than a year ago. The CME lean hog index 3/26/2026: down $0.28, $91.18.

TUESDAY'S HOG CALL: Higher. With pork demand up notably on Monday, there's a strong chance that the cash market will be higher on Tuesday too. 

Monday Midday Livestock Market Summary - Traders Drive Contracts Higher

GENERAL COMMENTS:

The livestock complex is off to a bullish start to the week as all three of the markets are trading higher into Monday's noon hour. New showlists appear to be somewhat lower in Texas, Nebraska and Kansas. May corn is down 3 3/4 cents per bushel and May soybean meal is up $1.20. The Dow Jones Industrial Average is up 306.71 points and NASDAQ is down 26.41 points.

LIVE CATTLE:

Thus far it's been another prosperous day for the live cattle complex as the market is charging onward, full-speed ahead into Monday's noon hour. Fueled by a combination of strong support from traders and from the stability recently seen in boxed beef prices -- along with mostly steady tones in last week's fed cash cattle market -- the live cattle complex has finally regained its bullish sentiment. April live cattle are up $1.15 at $239.65, June live cattle are up $1.35 at $240.12 and August live cattle are up $1.27 at $237.32. New showlists appear to be somewhat lower in Texas and even smaller in Nebraska and Kansas.

Last week Northern dressed sales were marked at mostly $372, which is steady with last week's weighted average, and it wasn't until late in the day on Friday that some live cattle sales were reported in the South at $233 to $235 which is steady to $1.00 lower than the previous week's weighted average.

Boxed beef prices are higher: choice up $2.69 ($395.66) and select up $0.90 ($390.77) with a movement of 28 loads (14.47 loads of choice, 3.55 loads of select, 5.90 loads of trim and 3.57 loads of ground beef).

FEEDER CATTLE:

Keeping in perfect alignment with the live cattle complex, the feeder cattle contracts are also charging higher into Monday's noon hour. Aside from the multi-faceted support the live cattle complex is currently seeing, the feeder cattle contracts are seeing that demand plus more as buyers have been notably more aggressive in sale barns across the countryside in recent weeks. With turnout season to grass nearing, demand will likely only get stronger. April feeders are up $2.47 at $363.92, May feeders are up $2.00 at $361.82 and August feeders are up $2.57 at $360.37.

LEAN HOGS:

The lean hog complex is also rallying into Monday's noon hour as traders are pleased to see midday pork cutout values up again and the market is keeping with the upward trend established last week. June lean hogs are up $0.22 at $106.35, July lean hogs are up $0.32 at $109.15 and August lean hogs are up $0.32 at $108.85. Helping drive the midday carcass price higher is mostly the $3.74 jump in the picnic, and then the $2.28 increase in the belly.

The projected CME Lean Hog Index for 3/27/2026 is down $0.42 at $90.76 and the actual index for 3/26/2026 is down $0.29 at $91.18. Hog prices are unavailable on the Daily Direct Morning Hog Report because of confidentiality. However, we can see that only 1,355 head have traded and that the market's five-day rolling average now sits at $90.91. Pork cutouts totaled 121.98 loads with 105.22 loads of pork cuts and 16.76 loads of trim. Pork cutout values: up $1.89, $98.45.