Tuesday Closing Livestock Market Update - Cattle Dip Lower While Hogs Power Onward

GENERAL COMMENTS:

The livestock complex closed mixed with the cattle contracts ending the day weaker while the hog contracts kept their momentum through the day's end. Still no cash cattle trade has developed, and the market won't likely see any cattle trade until Thursday or Friday. May corn is up 1 3/4 cents per bushel and July soybean meal is down $0.00. The Dow Jones Industrial Average is down 293.18 points and NASDAQ is down 144.43 points.

LIVE CATTLE:

The big news that broke Tuesday morning for the cattle complex was that, yet another confirmed case of New World screwworm was detected in northern Mexico, just 60 miles from the Texas border. Unfortunately this news affected the complex through Tuesday's close as the live cattle contracts closed anywhere from $1.00 to $2.00 lower. April live cattle closed $2.17 lower at $247.42, June live cattle closed $2.52 lower at $243.55 and August live cattle closed $1.90 lower at $239.70. With supplies of lean beef remaining inherently thin, this afternoon, select prices closed higher than choice prices again. No cash cattle trade developed throughout the day, but a single bid of $246 was offered in Kansas. Asking prices remain elusive at this point and trade will likely be delayed until Thursday or Friday. 

Tuesday's slaughter is estimated at 111,000 head -- 1,000 head less than a week ago and 10,000 head less than a year ago.

Boxed beef prices closed higher: choice up $2.62 ($386.18) and select up $3.59 ($387.20) with a movement of 111 loads (82.24 loads of choice, 6.51 loads of select, 8.39 loads of trim and 13.59 loads of ground beef).

WEDNESDAY'S CATTLE CALL: Steady to somewhat lower. With the board's weakness, prices may trade steady at best this week.

FEEDER CATTLE:

The feeder cattle complex followed the direction of the live cattle market through Tuesday's end as the contracts closed fully lower. April feeder cattle closed $2.30 lower at $366.57, May feeders closed $2.55 lower at $358.55 and August feeders closed $2.40 lower at $358.95. At Oklahoma National Stockyards in Oklahoma City, Oklahoma, compared to last week feeder steers traded mostly steady, but steers weighing 900 to 1,000 pounds traded $2.00 to $4.00 lower. Feeder heifers sold $2.00 to $4.00 lower. Steer and heifer calves sold unevenly steady. Demand remains good, but buyers were a little more picky. Feeder cattle supply over 600 pounds was 67%. The CME feeder cattle index 4/20/2026: down $1.32, $374.37.

LEAN HOGS:

The lean hog complex had a powerful day as its contracts found support and were able to close higher through Tuesday's end. June lean hogs closed $1.47 higher at $103.20, July lean hogs closed $1.22 higher at $105.22 and August lean hogs closed $1.12 higher at $105.12. Pork cutout values closed slightly lower, but thankfully the support of traders was enough to keep the contracts higher through the day's closing bell. Hog prices closed higher on the Daily Direct Afternoon Hog report, up $0.52 with a weighted average price of $92.65 on 5,060 head. Pork cutouts total 325.14 loads with 283.06 loads of pork cuts and 42.08 loads of trim. Pork cutout values: down $0.86, $99.34. Tuesday's slaughter is estimated at 496,000 head -- 5,000 head more than a week ago and 14,000 head more than a week ago. The CME lean hog index 4/16/2026: down $0.14, $90.37.

WEDNESDAY'S HOG CALL: Steady. Packers may still need a few more hogs, which could keep the market steady through Wednesday's trade.

Tuesday Midday Livestock Market Summary - Cattle Futures Remain on Edge, While Hogs Trade Higher

GENERAL COMMENTS:

The livestock complex is mixed heading into Tuesday's noon hour as the cattle contracts remain on edge upon hearing about yet another new case of New World screwworm detected just 60 miles south of the Texas border. But with the increase of consumer demand, the lean hog contracts are trading higher. Still no cash cattle trade has developed. May corn is up 1 3/4 cents per bushel and July soybean meal is down $1.00. The Dow Jones Industrial Average is down 82.22 points and NASDAQ is down 50.72 points.

LIVE CATTLE:

The big news Tuesday morning for the cattle complex has been another confirmed case of New World screwworm in northern Mexico, just a mere 60 miles from the Texas border. The futures complex is trading lower upon hearing about the news and will likely keep this slightly bearish tone through Tuesday's end. April live cattle are down $0.80 at $248.80, June live cattle are down $1.15 at $244.92 and August live cattle are down $0.82 at $240.77. There's currently a single bid sitting on the table in Kansas at $246, but otherwise the market hasn't seen any other interest from packers arise. Asking prices remain elusive at this point and it's fully anticipated trade will be delayed until later in the week. Last, but not least, it is worth noting that choice prices are below select prices again as supplies of lean beef remain limited heading into prime grilling season.

Boxed beef prices are higher: choice up $3.49 ($387.05) and select up $5.45 ($389.06) with a movement of 59 loads (37.05 loads of choice, 4.53 loads of select, 6.40 loads of trim and 11.07 loads of ground beef).

FEEDER CATTLE:

In alignment with the live cattle complex, the feeder cattle contracts are also trading lower into Tuesday's noon hour. April feeders are down $2.37 at $366.50, May feeders are down $0.90 at $360.20 and August feeders are down $0.62 at $360.65. Last week demand was red hot in the countryside for feeder cattle, but thus far this week the market has seen more mixed interest from buyers as they're soberly aware of the board's current lower demeanor.

LEAN HOGS:

Finally, after a painful (very painful) nine-day downward trend, the lean hog complex is trading higher. More than anything the market has finally found some consumer support, which is helping traders put a bottom in the market's current move. June lean hogs are up $1.40 at $103.12, July lean hogs are up $1.35 at $105.35 and August lean hogs are up $1.32 at $105.32. The projected CME Lean Hog Index for 4/20/2026 is up $0.14 at $90.51, and the actual index for 4/17/2026 is down $0.14 at $90.37. Hog prices on the Daily Direct Morning Hog Report average $91.73, ranging from $88.00 to $93.00 on 2,415 head and a five-day rolling average of $91.79. Pork cutouts total 170.62 loads with 148.96 loads of pork cuts and 21.66 loads of trim. Pork cutout values: up $0.01, $100.21.

 

Tuesday Morning Livestock Market Update - Cattle Futures May Show Further Weakness

GENERAL COMMENTS:

The initial strength in cattle futures waned Monday with contracts posting a steady decline throughout the day. Traders seem to have looked past the Cattle on Feed report and are focusing on the cash potential this week. Boxed beef showed substantial gains, with choice up $2.50 and select up $7.01. This moved the average choice value $0.05 above select. It is uncertain whether the cattle futures were influenced by the Justice Department's antitrust division examining whether large supplies manipulated the market in any way, resulting in higher beef prices, according to a report by the Wall Street Journal. However, the weakness may have been the result of traders being uncertain about the strength of cash this week and that the market is technically overbought. Feeder cattle prices have also shown some weakness recently, but that may only be temporary.

Hog futures found a reason for nearby contracts to close higher. Higher cash and cutouts, and the market being oversold, may have resulted in the buying interest. Later contracts closed slightly lower as traders remained uncertain over longer-term prices. However, if nearby contracts post further gains Tuesday, it may trigger further short-covering in the deferred contracts. The National Daily Direct Afternoon Hog report showed cash up $1.85. Packers may be aggressive again Tuesday as they step up and purchase after letting prices fall last week. Pork cutout values increased $1.00, potentially setting the stage for a stronger week.

	BULL SIDE		BEAR SIDE
1)	Beef prices are high due to tight cattle supplies and continued strong consumer demand. It may not be from market manipulation.	1)	Traders are concerned cash cattle prices may be lower this week. Feedlots can only hold cattle for so long before they need to bring them to market or lose money by continuing to feed them.
2)	Crude oil prices have been in a downtrend the past two weeks which may eventually lower fuel prices and improve the financial situation of consumers. Beef demand may remain strong.	2)	Cattle futures are overbought with fund traders holding near-record long positions. Further liquidation may be seen.
3)	Hog futures are oversold and the trading action on Monday may indicate traders are unwilling to press the market to the downside. This may result in short-covering.	3)	The strength of cash and cutouts on Monday does not indicate the hog market has found support.
4)	Pork may find more space on the grill this summer due to high beef prices. This may improve demand.	4)	Hog futures are oversold, but that is meaningless if traders are unable to find a reason to cover their short positions.

Monday Closing Livestock Market Update - Mixed Tones Dominate the Complex

GENERAL COMMENTS:

The livestock complex ended the day mixed as the live cattle and feeder cattle contracts closed lower while the lean hog contracts closed mixed. More than anything, it will be imperative that fundamental support remains evident for traders this week. New showlists appear to be modestly lower in Kansas, and lower in Texas and Nebraska/Colorado. May corn is up 3 1/4 cents per bushel and July soybean meal is down $6.00. The Dow Jones Industrial Average is down 4.87 points and the NASDAQ is down 64.09 points.

LIVE CATTLE:

It was again a mixed day for the live cattle complex as the futures contracts closed lower, but from a fundamental sense, it was positive to see boxed beef prices close higher, with once again select prices rising above choice prices. April live cattle closed $0.35 lower at $249.60, June live cattle closed $1.27 lower at $246.07 and August live cattle closed $1.22 lower at $241.60. No cash cattle trade developed throughout the day, and trade will likely be delayed until later in the week. New showlists appear to be modestly lower in Kansas, and lower in Texas and Nebraska/Colorado. Monday's slaughter is estimated at 97,000 head, 7,000 head less than a week ago and 6,000 head less than a year ago.

Last week Northern dressed cattle traded at $385 to $392, but mostly at $388, which is steady to $1.00 lower than the previous week's weighted average. Southern live cattle traded at mostly $248, which is generally steady with the previous week's weighted average.

Boxed beef prices closed higher: choice up $2.50 ($383.56) and select up $7.01 ($383.61) with a movement of 65 loads (42.82 loads of choice, 5.96 loads of select, 5.97 loads of trim and 9.94 loads of ground beef).

TUESDAY'S CATTLE CALL: Steady. With prime grilling season right around the corner, feedlots may be able to hold cash price steady this week if they really pressure packers.

FEEDER CATTLE:

The feeder cattle complex was anxious throughout the day, and that trickled down and affected sale barns across the countryside, as well as lower trends were noted there, too. April feeders closed $2.45 lower at $368.87, May feeders closed $4.17 lower at $361.10 and August feeders closed $4.32 lower at $361.35. And until some sizeable support develops in the live cattle/fed cash cattle markets, weaker tones could be seen in the feeder cattle complex. At Joplin Regional Stockyards in Carthage, Missouri, compared to last week and at their midpoint session, feeder steers and heifers were trading $5.00 to $15.00 lower than compared to last week. Feeder cattle supply over 600 pounds was 64%. The CME feeder cattle index: down $1.98, $375.69.

LEAN HOGS:

The lean hog complex ended the day mixed, with the nearby contracts able to close higher while the deferred contracts ended the day a tick lower. What's been extremely helpful to the complex as of late is the uptick in pork demand, which is partly to credit for the strength in the nearby contracts as well. June lean hogs closed $0.67 higher at $101.72, July lean hogs closed $0.32 higher at $104.00 and August lean hogs closed $0.10 higher at $104.00. Hog prices closed higher on the Daily Direct Afternoon Hog Report, up $1.85 with a weighted average price of $92.13 on 3,121 head. Pork cutouts totaled 252.60 loads with 225.83 loads of pork cuts and 26.77 loads of trim. Pork cutout values: up $1.00, $100.20. Monday's slaughter is estimated at 492,000 head, steady with a week ago and 140,000 head more than a year ago. The CME lean hog index 4/16/2026: down $0.15, $90.51.

TUESDAY'S HOG CALL: Higher. With pork demand seeing an uptick in consumer demand, there's a chance that packers could be more aggressive in the cash market as well on Tuesday.