Monday Midday Livestock Market Update - Traders Continue to Show Up and Support the Contracts

GENERAL COMMENTS:

The livestock complex is trading mostly higher into Monday's noon hour, aside from a couple of the nearby contracts in both the feeder cattle and lean hog markets. New showlists are mixed this week as showlists are lighter in Texas and Kansas, but larger in Nebraska and Colorado. December corn is up 5 1/4 cents per bushel and December soybean meal is up $0.50. The Dow Jones Industrial Average is up 525.30 points and NASDAQ is up 518.77 points.

LIVE CATTLE:

Traders continue to be supportive of the live cattle complex heading into the new week as the contracts are all trading higher. August live cattle are up $0.55 at $232.30, October live cattle are up $0.50 at $227.75 and December live cattle are up $0.47 at $227.42. Packers must be short bought heading into this new week as bids have already surfaced in Kansas at $233. Asking prices are not yet established, but it's assumed that prices will be steady if not higher again this week. New showlists are mixed this week as showlists are lighter in Texas and Kansas, but larger in Nebraska and Colorado.

Last week, Southern live cattle traded from $231 to $233, which is $1 to $3 higher than the previous week's weighted average. Northern dressed cattle traded at from $365 to $368, which is steady to $3 higher.

Boxed beef prices are mixed: choice up $5.36 ($366.74) and select down $2.25 ($343.98) with a movement of 54 loads (19.24 loads of choice, 17.38 loads of select, 5.52 loads of trim and 11.56 loads of ground beef).

FEEDER CATTLE:

And with the continued support of the live cattle market's higher trend, the feeder cattle contracts are mostly trading higher into Monday's noon hour as well. A couple of the nearby contracts are trading lower, which is likely stemming from the fact that demand in the countryside has been mixed even though the board has been committed to trading higher recently. August feeders are down $0.52 at $347.50, September feeders are down $0.17 at $343.60 and October feeders are up $0.20 at $335.55.

LEAN HOGS:

Even with midday pork cutout values higher, the lean hog contracts are trading mixed into Monday's noon hour with the nearby contracts remaining skeptical while the deferred contracts inch higher. More than anything, traders likely want to see consistent support from consumers before they'll push the contracts any higher for the time being. August lean hogs are down $1.17 at $97.67, October lean hogs are down $1.35 at $83.50 and December lean hogs are down $0.67 at $75.00. The projected lean hog index for 7/31/2026 is down $0.55 at $97.68 and the actual index for 7/30/2026 is down $0.21 at $98.23. Hog prices are unavailable on the Daily Direct Morning Hog report because of confidentiality. However, we can see that only 551 head have traded and that the market's five-day rolling average now sits at $101.14. Pork cutouts total 161.02 loads with 149.52 loads of pork cuts and 11.50 loads of trim. Pork cutout values: up $2.44, $102.45.

Monday Morning Livestock Market Update - Uncertainty May Dominate Futures

GENERAL COMMENTS:

Cattle futures rebounded nicely during the week as the market corrected from its oversold technical condition. Cattle futures seem to have factored in most of the negative news. This gave feedlots confidence to hold for higher cash despite boxed beef struggling for much of the week. Packers needed to purchase cattle and stepped up to the plate. Southern live cattle traded $1.00 to $3.00 higher, with Northern dressed cattle trading as much as $3.00 higher. Northern dressed sales were rather light, which may leave packers short-bought coming into the week. Boxed beef prices were higher, with choice up $0.88 and select up $4.90. The Commitment of Traders report showed fund traders reducing their long futures position in live cattle by 8,656 contracts to a net long of 67,025. They reduced their long futures position in feeder cattle by 358 contracts to a net long of 8,987.

The liquidation phase ran its course on Friday, allowing hog futures to rebound despite further weakness of pork cutouts. Futures had been overdone to the downside. Cutouts declined $1.63 on Friday, holding just above $100. The weakness stemmed from hams down $7.23 and picnics down $3.46. Packers were less aggressive on Friday with the National Daily Direct Afternoon Hog report down $0.64. They may be aggressive again to begin the week and may bid higher to procure the hogs they need early. The Commitment of Traders report showed fund traders as net buyers of 8,673 futures contracts, reducing their short position to 19,118.

	BULL SIDE		BEAR SIDE
1)	The recent death losses from the hot weather are uncertain, but substantial. This may not have a large impact overall, but may provide support to the market.	1)	Boxed beef prices may continue to struggle for a time before seasonal strength may surface.
2)	The resumption of the importation of Mexican cattle through the Douglas port represents only 8% of the cattle imports usually received into the U.S. from Mexico and will not be negative to the market.	2)	Packers may have been able to purchase sufficient cattle late on Friday and early Saturday to provide sufficient supplies for slaughter.
3)	The liquidation of hog futures seems to have run its course, allowing the market to rebound. The expectation for higher cash should provide support.	3)	The weakness of cash hogs and pork cutouts on Friday may keep traders cautious over further strength.
4)	The October hog contract holds a significant discount to the soon-to-expire August contract. This gap is likely to be reduced.	4)	The fund traders remain net short in the hog market, which may limit upside potential without further fundamental support.

Friday Closing Livestock Market Update - Traders Help Support the Contracts

GENERAL COMMENTS:

The livestock complex ended the day on a mostly stronger note as traders continue to help drive the contracts higher. Some light cash cattle trade was noted throughout the day, but the week's movement remains thin. December corn is down 4 1/2 cents per bushel and December soybean meal is down $1.60. The Dow Jones Industrial Average is up 276.97 points and the NASDAQ is up 251.67 points.

From Friday to Friday livestock futures scored the following changes: August live cattle up $4.68, October live cattle up $4.75; August feeder cattle up $2.70, September feeder cattle up $2.33; August lean hogs down $4.00, October lean hogs down $4.18; September corn down $0.24, December corn down $0.24.

LIVE CATTLE:

The live cattle contracts ended the day mixed as the market was trying to patiently wait for the fed cash cattle market to trade -- but trade was slow to develop this week. At the time of this writing, some more light trade has been noted, but the week's movement has still been thin.

Throughout the week Southern live cattle traded from $231 to $233 which is $1.00 to $3.00 higher than the previous week's weighted average, and Northern dressed cattle traded from $365 to $368 which is steady to $3.00 higher. August live cattle closed $0.52 higher at $231.75, October live cattle closed $0.20 lower at $227.25 and December live cattle closed $0.22 higher at $226.95.

Friday's slaughter is estimated at 98,000 head -- 5,000 head less than a week ago and 6,000 head more than a year ago. Saturday's slaughter is projected to be around 7,000 head.

Boxed beef prices closed higher: choice up $0.88 ($361.38) and select up $4.90 ($346.23) with a movement of 82 loads (40.54 loads of choice, 12.78 loads of select, 9.76 loads of trim and 18.63 loads of ground beef).

MONDAY'S CATTLE CALL: Higher. Unless a wall of cattle trade late Friday afternoon, packers are going to need to secure more inventory next week to avoid being short bought.

FEEDER CATTLE:

The feeder cattle complex ended the day higher as traders remained faithful supporters of the market through the day's end. August feeders closed $1.55 higher at $348.02, September feeders closed $1.32 higher at $343.77 and October feeders closed $1.32 higher at $335.35. The Oklahoma Weekly Cattle Auction Summary shared that compared to last week feeder steers traded steady to $5.00 lower expect for the 600-to-700-pound steers which traded $15.00 to $20.00 lower. Feeder heifers sold $10.00 to $15.00 lower. Steer calves over 500 pounds traded steady, but those under 500 pounds sold $30.00 to $40.00 lower. Heifer calves traded $15.00 to $20.00 lower. The sale report specifically noted that, "This week's market was extremely uneven. Buyers were willing to pay steady money for cattle in good condition. However, the ongoing hot and dry conditions are taking a toll on lighter weight soft calves. Flyweight steer calves sold sharply lower than last week as buyers showed less interest in cattle that may struggle to gain weight under current weather conditions." Feeder cattle supply over 600 pounds was 58%. The CME feeder cattle index 7/30/2026: down $1.86, $345.83.

LEAN HOGS:

And although pork cutout values were still lower at Friday's end, the lean hog contracts were blessed with some additional trader support which helped keep the contracts from falling any lower. August lean hogs closed $0.42 higher at $98.85, October lean hogs closed $1.50 higher at $84.85 and December live cattle closed $1.15 higher at $75.67. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $0.64 with a weighted average price of $100.41 on 1,671 head. Pork cutouts totaled 284.26 loads with 263.25 loads of pork cuts and 21.00 loads of trim. Pork cutout values: down $1.63, $100.01. Friday's slaughter is estimated at 424,000 head -- 36,000 head more than a week ago and 40,000 head less than a year ago. Saturday's slaughter is projected to be around 32,000 head. The CME lean hog index 7/29/2026: down $0.01, $98.44.

MONDAY'S HOG CALL: Lower. Packers are rarely aggressive in the cash market on Mondays and with pork cutout values being a touch softer, it's unlikely that they will be overly aggressive early next week.

Friday Midday Livestock Market Update - Packers are Offering Bids, But Feedlot Managers Want More Money

GENERAL COMMENTS:

The livestock complex is again trading mixed into the day's noon hour as the cattle contracts keep moving higher but the lean hog complex is weaker. Bids are on the table in the cash cattle market, but trade has yet to cut loose. December corn is down 6 1/2 cents per bushel and December soybean meal is down $3.10. The Dow Jones Industrial Average is up 236.14 points and NASDAQ is up 147.92 points.

LIVE CATTLE:

Although there's yet to be a solid movement in this week's fed cash cattle market, the live cattle futures continue to scale higher as we head into Friday's noon hour. August live cattle are up $0.57 at $231.80, October live cattle are up $0.22 at $227.67 and December live cattle are up $0.55 at $227.27. But with midday boxed beef prices higher, feedlot managers will likely try to wait the week out until the bitter end in hopes of getting prices improved this week. Bids have resurfaced and packers are offering $365 to $368 in Nebraska, but still no new trade has developed. Asking prices are firm at $235-plus in the South and $370 in the North.

Boxed beef prices are higher: choice up $1.03 ($361.53) and select up $5.82 ($347.15) with a movement of 51 loads (32.59 loads of choice, 7.04 loads of select, 5.79 loads of trim and 5.66 loads of ground beef).

FEEDER CATTLE:

It's been a refreshing week for the feeder cattle complex. The continued support of the live cattle contract's higher trend is likely to lift the feeder cattle futures to a stronger close. August feeders are up $1.10 at $347.57, September feeders are up $1.47 at $343.92 and October feeders are up $1.92 at $335.95. Demand has been steady at best in the countryside, so this week's advancement on the board has solely been a technical decision by traders.

LEAN HOGS:

After the last two days where the lean hog contracts tumbled lower thanks to a lack of consumer support, the market has found some trader support Friday which is helping keep the contracts stabilized and trading higher. August lean hogs are up $0.65 at $99.07, October lean hogs are up $1.62 at $84.97 and December lean hogs are up $1.40 at $75.92. Unfortunately, consumer support hasn't improved Friday and that could cause more heartache and downward pressure for the contracts in upcoming days.

The projected CME Lean Hog Index for 7/30/2026 is down $0.21 at $98.23 and the actual index for 7/29/2026 is down $0.01 at $98.44. Hog prices are lower on the Daily Direct Morning Hog Report, down $0.03 with a weighted average price of $100.49, ranging from $98.00 to $102.50 on 1,596 head and a five-day rolling average of $101.14. Pork cutouts total 215.31 loads with 201.49 loads of pork cuts and 13.83 loads of trim. Pork cutout values: down $0.18, $101.46.