Monday Closing Livestock Market Summary - Mixed Tones Follow The Complex

GENERAL COMMENTS:

The livestock complex ended Monday mixed again, with fundamental support desperately needed to give traders the reassurance they yearn for. New showlists for the week are lower in Texas, but slightly higher in Nebraska, and noticeably higher in Kansas. December corn is up 1/2 cent per bushel and December soybean meal is down $5.00. The Dow Jones Industrial Average is up 213.67 points and the NASDAQ is down 272.68 points.

LIVE CATTLE:

With the feeling of last week's dramatic downturn still fresh on everyone's mind, the live cattle contracts ended Monday lower again as traders desperately need to see some fundamental support arise as the market's confidence was shaken last week. December live cattle closed $1.25 lower at $219.70, February live cattle closed $0.67 lower at $223.52 and April live cattle closed $0.47 lower at $226.15. No cash cattle trade developed throughout the day. New showlists for the week are lower in Texas, but slightly higher in Nebraska, and noticeably higher in Kansas. Last week, Southern live cattle were mostly marked at $224, which is $3.00 lower than the previous week's weighted average, but the Northern dressed cattle traded anywhere from $348 to $365, which was $13.00 lower than the previous week's weighted average. 

Monday's slaughter is estimated at 104,000 head -- 2,000 head less than a week ago and 6,000 head less than a year ago.

Boxed beef prices closed higher: choice up $0.38 ($365.04) and select up $2.96 ($354.94) with a movement of 81 loads (43.12 loads of choice, 10.50 loads of select, 16.79 loads of trim and 10.50 loads of ground beef).

TUESDAY'S CATTLE CALL: Steady to somewhat lower. With the market's confidence shaken last week, it's likely that cash prices will trade steady at best, but they could trade lower later this week.

FEEDER CATTLE:

Although the live cattle complex ended Monday mostly lower, the feeder cattle complex was able to keep its slightly higher position through the day's close. November feeders closed $0.65 higher at $338.42, January feeders closed $0.90 higher at $332.67 and March feeders closed $1.02 higher at $328.30. But even so, the damage done to the market last week in terms of overall confidence pushed feeder cattle prices lower in sale barns across the country. At the Joplin Regional Stockyards in Carthage, Missouri, at their mid-session point, feeder steers were trading $4.00 to $10.00 lower and feeder heifers were trading steady. Feeder cattle supply over 600 pounds was 46%. The CME feeder cattle index 10/30/2026: down $0.77, $350.46.

LEAN HOGS:

The lean hog complex was able to end the day slightly higher, as traders merely allowed the market to chop sideways, hoping that pork demand will remain strong throughout the week. And while yes, pork cutout values did close higher today, before traders can put much confidence in the demand aspect of the market, they're going to need to see multiple days of stronger demand. December lean hogs closed $0.70 lower at $58.17, February lean hogs closed $0.12 higher at $63.87 and April lean hogs closed $0.15 higher at $69.65. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $10.28 with a weighted average price of $50.01 on 3,655 head. Pork cutouts totaled 310.84 loads, with 272.50 loads of pork cuts and 38.34 loads of trim. Pork cutout values: up $2.18, $72.28. Monday's slaughter is estimated at 492,000 head -- 8,000 head more than a week ago and 4,000 head less than a year ago. The CME lean hog index 10/29/2026: up $0.27, $66.57.

TUESDAY'S HOG CALL: Higher. Given that prices were so much lower today, it's likely that packers will show the market a tick more interest on Tuesday.

Monday Midday Livestock Market Summary - Traders Handle Contracts Gingerly

GENERAL COMMENTS:

Mixed tones dominate the livestock complex at Monday's noon hour as traders continue to yearn for greater fundamental support. New showlists for the week are lower in Texas, but slightly higher in Nebraska, and noticeably higher in Kansas. December corn is down 3/4 cent per bushel and December soybean meal is steady. The Dow Jones Industrial Average is up 498.89 points and the NASDAQ is up 77.19 points.

LIVE CATTLE:

Following last week's mixed trade, the live cattle complex is continuing the trend with the market's nearby contracts falling slightly lower, while the deferred contracts have been able to thus far maintain a slightly stronger position. December live cattle are down $0.70 at $220.25, February live cattle are down $0.22 at $223.97 and April live cattle are down $0.20 at $226.42. Friday's decline pushed the spot December contract back below the market's 100-day moving average, and with the nearby contracts continuing to trade lower, today's action has pushed the market even further from that threshold. New showlists for the week are lower in Texas, but slightly higher in Nebraska, and noticeably higher in Kansas.

Boxed beef prices are higher: choice up $0.14 ($364.80) and select up $2.75 ($354.73) with a movement of 42 loads (18.25 loads of choice, 3.32 loads of select, 12.98 loads of trim and 7.79 loads of ground beef).

FEEDER CATTLE:

The feeder cattle contracts are trading mostly higher into Monday's noon hour, as traders remain hopeful that the market may be able to change its trajectory in the nearing day's from late last week's lower trend. November feeders are down $0.20 at $337.57, January feeders are up $0.42 at $332.30 and March feeders are up $0.77 at $328.05. But if the live cattle contracts don't turn higher, it's unlikely that the feeder cattle contracts will be able to trade higher for much longer.

LEAN HOGS:

And the market's mixed tones are also being seen in the lean hog complex as the nearby contracts trade lower, but some of the deferred months are trading mildly higher. December lean hogs are down $0.80 at $58.07, February lean hogs are down $0.17 at $63.57 and April lean hogs are down $0.10 at $69.40. Luckily pork demand is higher at the week's start -- but in order for it to mean much to traders, they're going to need to see higher prices for multiple days. The projected lean hog index for 10/30/2026 is down $0.82 at $65.75, and the actual index for 10/29/2026 is down $0.73 at $66.57. Hog prices are unavailable on the Daily Direct Morning Hog Report, but we can see that only 505 head have traded and that the five-day rolling average now sits at $59.44. Pork cutouts total 188.68 loads with 169.19 loads of pork cuts and 19.49 loads of trim. Pork cutout values: up $2.36, $72.46. 

Monday Morning Livestock Market Update - Will Cattle Fall Further?

GENERAL COMMENTS:

Cattle markets were ugly Friday. Many of the feeder cattle contracts were trading over $10 lower and the majority of the futures months for live cattle contracts were over $5 lower. Traders had expected some setback from technical selling but not to the degree that the market fell apart. It is speculated that month-end selling was the accelerator. Cash markets were weaker late last week as it seems like packers are having no problems finding cattle available to buy. There is some speculation that the fed cattle numbers ready for slaughter are temporarily inflated, but once pass this short window, will become scarce again.

Lean hog futures traded lower Friday, closing out the week over $7 lower on the December contract. The market is feeling the pressure with pork cutout values sinking lower as well as the availability of hogs being abundant. With heavier hog weights, it is easy to assume that barns are backed up with more hogs ready for slaughter. Last week, the government announced they would be buying $41 million worth of pork to help feed families in need. On the Commitments of Traders report, managed money sold another 4,833 contracts, now short a new record of 51,646 contracts.

	BULL SIDE		BEAR SIDE
1)	The Cattle on Feed report was bullish in October and fundamentally will support the market.	1)	December live cattle futures broke through support with Friday's sell-off.
2)	The Feeder Cattle Index is still holding strong, ignoring futures volatility.	2)	Cash prices are lower for cattle in the North, on top of lower boxed values.
3)	A $41 million pledge from USDA to buy pork will help boost the market.	3)	Record net short for managed money of 51,646 contracts set last week.
4)	Holidays are around the corner, and with that, new demand for pork products.	4)	Pork cutout values continue to fall.

Friday Closing Livestock Market Update - Lack of Fundamental Support Drives Contracts Lower

GENERAL COMMENTS:

It was a pitiful day for the livestock complex as traders grew frustrated with the market and its lack of fundamental support, which led to the contracts ending the day lower. At the time of this writing, the fed cash cattle market has only traded a handful of cattle, and prices have been lower than last week's weighted average. December corn is down 3 1/2 cents per bushel and December soybean meal is down $4.70. The Dow Jones Industrial Average is down 572.25 points and the NASDAQ is down 747.72 points.

From Friday to Friday, livestock futures scored the following changes: October live cattle down $5.88, December live cattle down $10.18; November feeder cattle down $10.55, January feeder cattle down $13.58; December lean hogs down $6.70; December corn down $0.08.

LIVE CATTLE:

With a lack of fundamental support, the live cattle contracts waived their white flag, tucked their tails and ran lower through Friday's end and into the weekend. December live cattle closed $5.35 lower at $220.95, February live cattle closed $5.27 lower at $224.20 and April live cattle closed $5.45 lower at $226.62. Some light trade was reported today in the South at $225, which is $2.00 lower than last week's weighted average, and there's been no more trade noted in the North following Wednesday's light movement at $350 to $352, which is $13.00 to $15.00 lower than the previous week's weighted average. If more trade doesn't develop later this afternoon, that would be two weeks in a row now of packers buying extremely few cattle in the fed cash cattle market. Which could potentially leave them bought for the upcoming week.

Friday's slaughter is estimated at 96,000 head -- steady with a week ago and 2,000 head less than a year ago. Saturday's slaughter is projected to be around 13,000 head. The week's total slaughter is estimated at 543,000 head -- 3,000 head less than a week ago and 14,000 head less than a year ago.

Boxed beef prices closed mixed: choice down $2.62 ($364.66) and select up $0.35 ($351.98) with a movement of 126 loads (100.70 loads of choice, 8.66 loads of select, 10.36 loads of trim and 5.85 loads of ground beef).

MONDAY'S CATTLE CALL: Before we can accurately gauge where the market may go next week, we need to see what exactly pans out in this week's trade.

FEEDER CATTLE:

The CME's current trading limits for cattle contracts present challenges for some market participants. Daily feeder cattle contract moves of up to $10.00 can increase volatility and significantly raise risk exposure and marketing costs. And that's exactly what the market did today -- it fell more than $10.00 in most of the feeder cattle contracts as traders wiped their hands of the market before Friday's end. So why the big decline, you ask? Good question, because shouldn't a $10.00 decline be justified by some earth-shattering development? Well, that wasn't the case today. Traders were frustrated with the market's lack of fundamental support and let the contracts sink lower ahead of the weekend. November feeders closed $8.70 lower at $337.77, January feeders closed $10.17 lower at $331.77 and March feeders closed $10.50 lower at $327.27. The Oklahoma Weekly Cattle Auction Summary shared that compared to last week and throughout the entire state, feeder steers traded steady, but stocker steers sold $3.00 to $8.00 lower.Feeder heifers sold steady to $5.00 higher. Steer and heifer calves traded $5.00 to $10.00 higher. Feeder cattle supply over 600 pounds was 56%. The CME feeder cattle index 10/29/2026: down $0.17, $351.26.

LEAN HOGS:

The lean hog complex ended the day lower too as traders continue to be frustrated by the lack of consumer demand. December lean hogs closed $0.95 lower at $58.87, February lean hogs closed $0.97 lower at $63.75 and April lean hogs closed $1.12 lower at $69.50. And until there's some sort of fundamental improvement, this sideways lower chop is likely going to continue to be the lean hog market's trajectory. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $3.49 with a weighted average price of $60.29 on 3,701 head. Pork cutouts totaled 314.97 loads, with 270.62 loads of pork cuts and 44.35 loads of trim. Pork cutout values: down $0.59, $70.10. Friday's slaughter is estimated at 486,000 head -- 29,000 head more than a week ago and 26,000 head more than a year ago. Saturday's slaughter is projected to be around 190,000 head. The CME lean hog index 10/28/2026: down $1.00, $67.30.

MONDAY'S HOG CALL: Lower. Packers rarely buy aggressively in the cash hog market on Mondays.