Tuesday Closing Livestock Market Update - Mixed Tones Follow the Contracts

GENERAL COMMENTS:

The livestock complex ended the day mixed, as cattle contracts rallied while lean hog contracts fell. No cash cattle trade developed throughout the day. December corn is down 1 1/2 cents per bushel and December soybean meal is up $0.10. The Dow Jones Industrial Average is down 116.38 points and the NASDAQ is down 355.20 points.

LIVE CATTLE:

With bullish support from news that broke late Monday afternoon regarding the Cargill plant in Colorado, and a noticeable uptick in boxed beef prices, the live cattle contracts ended the day higher. August live cattle closed $0.35 higher at $224.90, October live cattle closed $0.15 higher at $218.92 and December live cattle closed $0.80 higher at $219.20. No cash cattle trade developed throughout the day, and both bids and asking prices remain elusive at this point. Late Monday afternoon, news broke that workers at the Cargill plant in Fort Morgan, Colorado, have agreed to come back to work after the union voted to ratify a contract that will increase wages. The plant has been closed since May but hopes to be processing cattle the week of Sept. 7. The plant has historically employed around 2,000 workers and has the capacity to process more than 4,000 head per day. This news has obviously come as a breath of fresh bullish air to the marketplace and is helping drive the cattle contracts higher. 

Tuesday's slaughter is estimated at 106,000 head -- 2,000 head less than a week ago and 12,000 head less than a year ago.

Boxed beef prices closed higher: choice up $11.58 ($391.15) and select up $2.03 ($366.29) with a movement of 118 loads (75.24 loads of choice, 11.81 loads of select, 12.53 loads of trim and 18.85 loads of ground beef).

WEDNESDAY'S CATTLE CALL: Lower. Given that packers have been able to secure more supply in recent weeks, it's likely that this week's cash cattle trade will be lower.

FEEDER CATTLE:

And in keeping in perfect alignment with the live cattle complex, the feeder cattle contracts also ended the day higher. Unfortunately, that wasn't reflected in sales in the countryside as prices were softer for calves again today, especially for unweaned calves. August feeders closed $0.75 lower at $339.22, September feeders closed $0.40 higher at $333.35 and October feeders closed $0.97 higher at $326.32. At the OKC West Livestock Auction in El Reno, Oklahoma, steer and heifer calves traded $15.00 to $25.00 lower on light test in most weight classes. The sale report did note that 48% of the calves were unweaned. The CME feeder cattle index 8/17/2026: down $0.88, $343.55.

LEAN HOGS:

The lean hog complex ended the day lower as traders simply aren't comfortable with the level of support the market is currently seeing from its fundamentals. And while, yes, today support was almost abundant as both cash prices and pork cutout values closed higher. That's not been the market's norm here lately. December lean hogs closed $1.60 lower at $70.92, February lean hogs closed $1.77 lower at $74.00 and April lean hogs closed $1.62 lower at $79.40. Hog prices closed higher on the Daily Direct Afternoon Hog Report, up $0.90 with a weighted average price of 93.52 on 10,290 head. Pork cutouts totaled 264.23 loads, with 237.25 loads of pork cuts and 26.98 loads of trim. Pork cutout values: up $0.37 to $99.12. Tuesday's slaughter is estimated at 476,000 head -- 3,000 head more than a week ago and 3,000 head less than a year ago. The CME lean hog index 8/14/2026: down $0.21 to $95.47.

WEDNESDAY'S HOG CALL: Steady/somewhat lower. Packers may need some more supply, but, likely, they won't drive the market much higher.

Tuesday Midday Livestock Market Update - Bullish News Helps Drive Cattle Contracts Higher

GENERAL COMMENTS:

The livestock complex is trading mixed into Tuesday's noon hour, with the cattle contracts receiving bullish news that's helping drive contracts higher, but traders remain on edge about being too supportive of the lean hog complex. News broke Monday afternoon that the Cargill beef plant in Fort Morgan, Colorado, is set to begin processing cattle on Sept. 7, which is helping propel the cattle contracts higher. December corn is down 1/2 cent per bushel and December soybean meal is up $0.30. The Dow Jones Industrial Average is down 87.49 points and NASDAQ is down 303.26 points.

LIVE CATTLE:

Late Monday afternoon, news broke that workers at the Cargill plant in Fort Morgan, Colorado, have agreed to come back to work after the union voted to ratify a contract that will increase wages. The plant has been closed since May but hopes to be processing cattle the week of Sept. 7. The plant has historically employed around 2,000 workers and has the capacity to process more than 4,000 head per day. This news has obviously come as a breath of fresh bullish air to the marketplace and is helping drive the cattle contracts higher. August live cattle are up $0.65 at $225.20, October live cattle are up $0.95 at $219.72 and December live cattle are up $1.65 at $220.02. No cash cattle trade has developed yet, and both bids and asking prices remain elusive at this point.

Boxed beef prices are higher: choice up $10.04 ($389.61) and select up $2.54 ($366.80) with a movement of 69 loads (49.60 loads of choice, 5.50 loads of select, 7.43 loads of trim and 6.60 loads of ground beef).

FEEDER CATTLE:

And upon absorbing the same bullish news that the live cattle market did regarding the Cargill plant in Colorado, along with the further support of seeing the live cattle contracts trading higher, the feeder cattle contracts are also trading higher into Tuesday's noon hour. August feeders are up $0.87 at $340.82, September feeders are up $2.50 at $335.45 and October feeders are up $3.05 at $328.40. But the market may be challenged later this week as a Cattle on Feed report is set to be released, and on Monday, Mexican cattle imports are expected to arrive for the first time in over a year.

LEAN HOGS:

Although midday pork cutout values and cash prices are higher, the lean hog contracts are trading lower as traders are going to need to see more than a day's worth of support to really feel comfortable supporting the contracts. October lean hogs are down $1.15 at $80.57, December lean hogs are down $1.82 at $70.72 and February lean hogs are down $1.90 at $73.87. Helping drive the carcass price higher is the loin's $2.98 increase, and the rib's $2.77 increase as well. The projected lean hog index for 8/17/2026 is down $0.69 at $94.78 and the actual index for 8/14/2026 is down $0.21 at $95.47. Hog prices are higher on the Daily Direct Morning Hog Report, up $2.69 with a weighted average price of $94.37, ranging from $88.00 to $95.00 on 2,850 head and a five-day rolling average of $93.90. Pork cutouts total 177.26 loads with 160.89 loads of pork cuts and 16.37 loads of trim. Pork cutout values: up $0.99, $99.74.

Tuesday Morning Livestock Market Update - Fort Morgan Beef Facility to Resume Operations

GENERAL COMMENTS:

Cattle began trading higher with traders aggressive, most likely from short covering. Once that ran its course, futures continued to slide, resulting in a mixed close. The bullish news after the close should result in stronger prices Tuesday. Workers at the Fort Morgan, Colorado, beef plant voted to ratify a five-year agreement. Employees will return around Aug. 24, with harvest to resume the week of Sept. 7. The Fort Morgan plant can harvest up to 4,700 head per day. Boxed beef prices exploded on Monday with choice up $4.27 and select up $13.02. I cannot remember the last time a boxed beef category showed that much strength in one day. The combination of these items should provide support to the market Tuesday. Feeder cattle prices in the country remained soft in response to the recent pressure on cattle futures.

Hog futures barely maintained positive prices. There was little fundamental news to generate buying interest. The market continues to struggle due to the lack of positive fundamentals. The National Daily Direct Afternoon Hog report showed cash down $0.68 on rather light movement. Pork cutouts fell $1.15, adding to the negativity. The slaughter pace remains strong, indicating demand is good. However, market-ready hogs are plentiful. The packers are expected to be more aggressive in the cash market Tuesday.

	BULL SIDE		BEAR SIDE
1)	The reopening of the Fort Morgan Beef facility should provide support to the market. It will offset some of the losses from last week's plant closings.	1)	Traders may exercise caution despite the positive news developments. The cattle market will need to prove itself.
2)	The huge increase in boxed beef choice to $13.02 and the strong select price may indicate the summer slump is over.	2)	The strength of boxed beef will need to continue, or cattle futures will have limited upside potential.
3)	Hog futures held on Monday, which may indicate traders do not want to press the market lower.	3)	Hog futures could not hold the gains during the day on Monday, keeping the market bearish.
4)	Hog slaughter remains strong and should increase packer buying interest Tuesday.	4)	Continued weakness in cash hogs and pork cutouts will not support higher prices.

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.