Wednesday Midday Livestock Market Summary - Light Cash Cattle Sales Begin to Develop

GENERAL COMMENTS:

The livestock complex is trading mixed Wednesday's noon hour as the cattle contracts are gladly trading higher thanks to continued trader support and the recent developments in the fed cash cattle market. However, the lean hog market isn't seeing the same level of support. Some light trade has been noted in the North at $370 and bids are currently on the table in the South at $230 to $235. December corn is down 4 3/4 cents per bushel and December soybean meal is down $2.30. The Dow Jones Industrial Average is up 454.45 points and NASDAQ is down 92.29 points.

LIVE CATTLE:

The live cattle complex is trading higher into Wednesday's noon hour, and thankfully that has sparked some exciting developments in the fed cash cattle market too. August live cattle are up $2.60 at $234.60, October live cattle are up $2.10 at $230.00 and December live cattle are up $1.77 at $229.05. The cash cattle market is beginning to see some action develop as trade has been noted this morning in Nebraska at mostly $370, which is $2 to $3 higher than last week's weighted average, but there have been a few traded at $371 as well. Some of the cattle that were sold in Nebraska were committed for delivery on the week of 8/17/2026. Bids of $230 to $235 are currently on the table in the Southern Plains, but asking prices in that region are firm at $235.

Boxed beef prices are mixed: choice down $0.40 ($369.25) and select up $3.52 ($350.02) with a movement of 60 loads (37.45 loads of choice, 8.84 loads of select, zero loads of trim and 13.28 loads of ground beef).

FEEDER CATTLE:

And with the continued support of the live cattle complex, the feeder cattle contracts are also rallying into Wednesday's noon hour. August feeders are up $2.60 at $353.80, September feeders are up $3.15 at $349.27 and October feeders are up $3.37 at $340.52. And so long as the live cattle contracts continue to trail higher, it's likely that the feeder cattle contracts will do the same.

LEAN HOGS:

The lean hog complex is back to trading lower even though midday pork cutout values are higher, traders aren't confident in the market right now. August lean hogs are down $1 at $96.85, October lean hogs are down $1.40 at $82.95 and December lean hogs are down $1.47 at $74.30. And until traders see consistent support from consumers, they'll likely remain leery of being overly supportive. The projected lean hog index is delayed from the source. Hog prices on the Daily Direct Morning Hog Report average $99.43, ranging from $98.00 to $101.00 on 3,590 head, and a five-day rolling average of $100.30. Pork cutouts total 142.52 loads with 122.76 loads of pork cuts and 19.76 loads of trim. Pork cutout values: up $2.40, $102.23.

Wednesday Morning Livestock Market Update - Hope Remains for Higher Cash

GENERAL COMMENTS:

Cattle futures uncovered buying interest after opening lower and trading lower early in the day. No cash cattle trade has taken place, but it is likely cash will be higher. Boxed beef prices were higher in both categories, possibly indicating the seasonal lull is behind, and stronger demand is returning. Of course, it will take more than one day of both choice and select boxed beef being higher. Choice boxed beef gained $2.92, with select up $2.05. Meatpackers who have been locked out of work for more than 70 days rejected the latest union-recommended contract offer from Cargill Meat Solutions in Fort Morgan, Colorado. Both sides will be back at the bargaining table. The cattle usually processed at this facility will continue to be diverted to other locations. Feeder cattle were strong in the nearby contracts but showed limited strength in later contracts. The May contract closed lower for the day.

Hogs were able to post further gains, but without much fanfare. Continued price strength remains elusive with the market potentially establishing a sideways pattern. The National Daily Direct Afternoon Hog report showed cash up $0.20. Pork cutout values declined $1.08, moving the average price down to $99.83. Packers should remain aggressive Wednesday as the slaughter pace remains strong and higher than a year ago. Packer margins continue to remain positive. There is a $13.00 discount from October to the soon-to-end August contract. This gap should narrow.

	BULL SIDE		BEAR SIDE
1)	Boxed beef prices are beginning to show some support, possibly indicating beef demand is improving.	1)	Traders have been hesitant to be aggressive in the market so far this week. Any indication of steady or weaker demand will limit upside potential.
2)	There has been some indication that packers may be short-bought and will need to step up aggressively to purchase cattle this week.	2)	Packers continue to attempt to improve margins by reducing slaughter. This could keep pressure on the market when market-ready supplies increase.
3)	Hog futures may be building a base of support after the meltdown last week.	3)	Hog futures have not found sufficient buying interest to move the market consistently higher. This may be a disappointment to bullish traders and cause further liquidation.
4)	Packers should be willing to purchase hogs aggressively Wednesday as they need to purchase quite a few more hogs to satisfy their needs for the week.	4)	Pork cutouts are struggling to find support, indicating demand is not holding as strong as hoped.

Tuesday Closing Livestock Market Update - Traders Help Keep Contracts Elevated

GENERAL COMMENTS:

The livestock complex ended the day stronger as traders continued to support the contracts through Tuesday's close. No cash cattle trade developed throughout the day as feedlot managers continue to hold out for hopefully stronger packer demand later this week. December corn is down 7 cents per bushel and December soybean meal is down $3.20. The Dow Jones Industrial Average is up 907.47 points and the NASDAQ is up 671.09 points.

LIVE CATTLE:

All in all, it was a mildly supportive but quiet day for the live cattle complex. Traders were willing to support the live cattle contracts as beef demand was strong throughout the day, but the market has yet to see what's going to happen in this week's fed cash cattle market. August live cattle closed $0.85 higher at $231.95, October live cattle closed $1.17 higher at $227.90 and December live cattle closed $1.05 higher at $227.27. It's obvious that feedlot managers are going to try to push fed cash cattle prices higher, and if boxed beef prices remain elevated throughout the whole week, packers may pay up and secure some inventory. But seasonally supplies are growing, and packers are having to work with thin margins, which will make this week's trade anyone's guess to call. No cash cattle trade developed throughout the day, but bids were offered throughout the day in Nebraska at $368. 

Tuesday's slaughter is estimated at 110,000 head -- 4,000 head more than a week ago and 6,000 head less than a year ago.

Boxed beef prices closed higher: choice up $2.92 ($369.65) and select up $2.05 ($346.50) with a movement of 120 loads (86.91 loads of choice, 12.25 loads of select, 7.24 loads of trim and 13.25 loads of ground beef).

WEDNESDAY'S CATTLE CALL: Higher. With boxed beef prices higher, packers may be interested in buying more cattle to ensure they have enough beef to market in the coming weeks.

FEEDER CATTLE:

And just like clockwork, with the live cattle contracts closing higher, so did the feeder cattle contracts. August feeders closed $3.37 higher at $351.20, September feeders closed $3.60 higher at $346.15 and October feeders closed $3.45 higher at $337.15. At the Oklahoma National Stockyards in Oklahoma City, Oklahoma, compared to last week, feeder steers traded $5.00 to $10.00 higher and feeder heifers sold $5.00 to $15.00 higher. Steer calves sold unevenly steady and heifer calves traded $10.00 to $15.00 higher. Feeder cattle supply over 600 pounds was 64%. The CME feeder cattle index 8/3/2026: up $2.24, $349.13.

LEAN HOGS:

The lean hog complex ended the day higher as trades were willing to allow the contracts to chop sideways throughout the day. August lean hogs closed $0.32 higher at $97.85, October lean hogs closed $0.67 higher at $84.35 and December lean hogs closed $0.42 higher at $75.77. Yes, afternoon pork cutout values did close softer, which could cause the contracts some grief on Wednesday. Hog prices closed higher on the Daily Direct Afternoon Hog Report, up $0.20 with a weighted average price of $99.65 on 4,745 head. Pork cutouts totaled 276.25 loads with 251.96 loads of pork cuts and 24.29 loads of trim. Pork cutout values: down $1.08, $99.83. Tuesday's slaughter is estimated at 483,000 head -- 21,000 head more than a week ago and 2,000 head more than a year ago. The CME lean hog index 7/31/2026: down $0.55, $97.68.

WEDNESDAY'S HOG CALL: Steady to somewhat higher. Although packers mildly participated in today's market, they'll still need more hogs.

Tuesday Midday Livestock Market Update - Pleased With Stronger Consumer Demand, Traders Push Contracts Higher

GENERAL COMMENTS:

The livestock contracts are trading mostly higher into Tuesday's noon hour as traders are pleased to see both boxed beef prices and pork cutout values stronger. No cash cattle trade has developed yet, but bids are on the table in Nebraska at $368. December corn is down 7 1/2 cents per bushel and December soybean meal is down $3.80. The Dow Jones Industrial Average is up 937.07 points and NASDAQ is up 557.06 points.

LIVE CATTLE:

The live cattle complex is back to trading higher as traders find some mild support in stronger boxed beef prices, and hope that later this week, the fed cash cattle market will lend the market even more support. August live cattle are up $0.22 at $231.32, October live cattle are up $0.42 at $227.15 and December live cattle are up $0.37 at $226.60. No cash cattle trade has developed yet, but bids are currently on the table at $368 in Nebraska. But with feedlot managers potentially seeing an opportunity in the market to push prices higher again this week, it's likely that trade will be delayed until the later part of the week.

Boxed beef prices are higher: choice up $2.76 ($369.49) and select up $1.29 ($345.74) with a movement of 55 loads (39.13 loads of choice, 6.55 loads of select, zero loads of trim and 9.48 loads of ground beef).

FEEDER CATTLE:

The feeder cattle complex continues to closely mirror the behavior of the live cattle complex as most of its contracts are trading higher into the day's noon hour as well. It is, however, interesting to note that the furthest deferred contracts are slightly lower, possibly because traders anticipate greater imports from Mexico at that time. August feeders are up $2.77 at $350.60, September feeders are up $3.32 at $345.87 and October feeders are up $2.92 at $336.62.

LEAN HOGS:

The lean hog complex is trading higher into Tuesday's noon hour as traders are relieved to see pork cutout values stronger. The biggest driving factor right now on whether or not the futures contracts will trade higher or lower is consumer demand, and luckily Tuesday's demand is helping keep the contracts elevated. August lean hogs are up $0.10 at $97.62, October lean hogs are up $0.05 at $83.72 and December lean hogs are down $0.17 at $75.20. The projected lean hog index for 8/3/2026 is down $0.51 at $97.17, and the actual index for 7/31/2026 is down $0.55 at $97.68. Hog prices on the Daily Direct Morning Hog Report average $99.43, ranging from $98.00 to $101.00 on 3,590 head, and a five-day rolling average of $100.30. Pork cutouts total 154.46 loads with 147.63 loads of pork cuts and 6.83 loads of trim. Pork cutout values: up $1.64, $102.55.