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.

Monday Midday Livestock Market Summary - Complex Mixed

GENERAL COMMENTS:

The livestock complex is mixed Monday with the live cattle contracts fully higher while the feeder cattle and lean hog contracts are mixed. If stronger cash cattle trade develops during the week, trades will likely feel more comfortable pushing the contracts higher. May corn is up 3 1/2 cents per bushel and July soybean meal is down $4.60. The Dow Jones Industrial Average is down 68.00 points and NASDAQ is down 157.54 points.

LIVE CATTLE:

The live cattle complex is enjoying a modest rally at the week's start as traders feel the market endured enough immediate downward pressure late last week and they're also pleased with last Friday's Cattle on Feed report. It's too early in the week to say whether the market will be able to scale higher following last week's slight correction -- as really that decision is going to be based on whether fundamental support arises (especially from the cash market). April live cattle are up $0.87 at $250.82, June live cattle are up $0.40 at $247.75 and August live cattle are up $0.67 at $243.50.

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 and Southern live cattle traded at mostly $248 which is generally steady with the previous week's weighted average.

Boxed beef prices are higher: choice up $2.00 ($383.06) and select up $5.92 ($383.52) with a movement of 30 loads (20.91 loads of choice, 3.72 loads of select, zero loads of trim and 5.26 loads of ground beef).

FEEDER CATTLE:

The feeder cattle contracts were trading mostly higher throughout the morning, but as the noon hour nears the market is seeing most of its nearby contracts change directions and trade lower. April feeder cattle are up $0.15 at $371.47, May feeders are down $0.32 at $364.95 and August feeders are down $0.30 at $365.37. More than anything it's likely traders yearn to see greater fundamental support before they advance the contracts much more.

LEAN HOGS:

The lean hog contracts are mixed headed into Monday's noon hour with the nearby contracts slightly higher while the deferred months scale lower. June lean hogs are up $0.50 at $101.55, July lean hogs are up $0.10 at $103.77 and August lean hogs are steady at $103.90. Thankfully some of the upward movement in the nearby contracts likely stems from traders recognizing the fundamental support from consumers which has trended higher over the last several trading days.

The projected CME Lean Hog Index for 4/17/2026 is down $0.14 at $90.37, and the actual index for 4/16/2026 is down $0.15 at $90.51. Hog prices are unavailable on the Daily Direct Morning Hog Report because of confidentiality; however we can see that only 330 head have traded this morning and the market's five-day rolling average now sits at $91.13. Pork cutouts total 134.05 loads with 115.19 loads of pork cuts and 18.87 loads of trim. Pork cutout values: up $1.86, $101.06.

Monday Morning Livestock Market Update - Cattle Futures May Rebound

GENERAL COMMENTS:

Cattle futures showed some surprising weakness, falling significantly for 15 minutes around midmorning for no apparent reason other than sell stops being triggered. Futures regained most of those losses as the day progressed. The Cattle on Feed report was neutral to slightly friendly. On feed as of April 1 was 99.5% of a year ago. Placements were at 92.7% compared to March 2025. Both the on-feed and placement numbers were below the average trade estimates. Marketings were 94.5% and slightly above the average trade estimate. Cattle futures moved lower ahead of the report but may regain some of the losses Monday. The cash cattle trade was basically unchanged from the previous week. Early estimates are for steady to slightly lower cash trade this week. Boxed beef prices were lower, with choice down $0.51 and select down $1.88. The Commitments of Traders report showed the fund traders added 3,424 long futures contracts in live cattle, moving their net-long position to 132,839. They added 836 long positions to feeder cattle, bringing their net-long position to 21,951 contracts.

It was not a good week for hog futures, with contracts closing lower each day. The market is oversold, but that may be meaningless if traders see little fundamental reason to be aggressive, given the lack of fundamental support. Pork demand is improving, but supplies are sufficient with increased slaughter providing sufficient pork to the market. The National Daily Direct Afternoon Hog report showed cash up $0.12, leaving much to be desired. Packers are expected to be less aggressive at the start of the week. Pork cutouts did well on Friday, with values up $2.52. The Commitments of Traders report showed fund traders reducing their net-long futures position in hogs by 10,695, to a total long position of 78,031 contracts.

	BULL SIDE		BEAR SIDE
1)	The Cattle on Feed report was slightly friendly and may move higher as the market adjusts after positioning ahead of the report.	1)	The Cattle on Feed report was expected to be friendly, yet the market declined ahead of the report. This may indicate the market may be near a peak.
2)	Cattle supplies remain tight, and consumers continue to prefer beef and are paying higher prices to obtain it. Tight cattle supplies will continue.	2)	Cattle prices were unable to post gains last week as packers remained unaggressive. The same might be true this week.
3)	Hog futures are oversold and should find a level at which buyers will take advantage of the lower price.	3)	Consistent support from both cash hogs and pork cutouts remains elusive. Traders may remain unaggressive.

 

Friday Closing Livestock Market Update - Lower Tones Mark Complex

GENERAL COMMENTS:

The livestock complex rounded out the week on a lower note as traders simply weren't confident the market actually possessed enough support to push the contracts any other direction other than lower. Some light cash cattle trade developed throughout Friday but prices held mostly steady with Thursday's trade. May corn is up 1/4 cent per bushel and May soybean meal is down $0.90. The Dow Jones Industrial Average is up 868.71 points and NASDAQ is up 365.78 points.

From Friday to Friday, livestock futures scored the following changes: April live cattle down $1.82, June live cattle down $1.85; April feeder cattle down $2.82, May feeder cattle down $7.07; June lean hogs down $2.68, July lean hogs down $2.90; May corn up $0.08, July corn up $0.06.

LIVE CATTLE:

All in all it was a disappointing day for the live cattle complex -- except for this afternoon's Cattle on Feed report which was found to be mostly bullish, as anticipated. Click here to read DTN's full Cattle on Feed comments: .

But with the cash market trading steady to $1.00 lower this week, traders simply didn't find enough support in Friday's market -- or really even in this week's market -- to hold the complex from trading lower into the weekend. April live cattle closed $0.35 lower at $249.95, June live cattle closed $0.27 lower at $247.35 and August live cattle closed $0.25 lower at $242.82. Throughout the week, Southern live cattle traded at mostly $248, which is steady with last week's weighted average. Northern dressed cattle traded at mostly $388, which is steady to $1.00 lower than the previous week's weighted average. 

Friday's slaughter is estimated at 77,000 head -- 6,000 head less than a week ago and 13,000 head less than a year ago. Saturday's slaughter is projected to be around 8,000 head. The week's total slaughter is estimated at 514,000 head -- 2,000 head more than a week ago and 63,000 head less than a year ago.

Boxed beef prices closed lower: choice down $0.51 ($381.06) and select down $1.88 ($376.60) with a movement of 92 loads (75.40 loads of choice, 4.72 loads of select, 6.06 loads of trim and 5.67 loads of ground beef).

MONDAY'S CATTLE CALL: Steady to somewhat lower. With packers able to get more cattle committed to them and for mostly steady prices, feedlot managers are going to have a tougher time getting the market to trade higher when packers are gaining leverage.

FEEDER CATTLE:

The feeder cattle complex also closed lower Friday as traders simply weren't willing to advance the market while the live cattle contracts sank lower and the fed cash cattle market held steady. April feeder cattle closed $1.75 lower at $371.32, May feeders closed $1.82 lower at $365.27 and August feeders closed $2.85 lower at $365.67. The Oklahoma Weekly Cattle Auction Summary shared that compared to last week feeder steers traded steady to $5.00 higher and feeder heifers traded $2.00 to $4.00 higher. Steer and heifer calves traded unevenly steady. Slaughter cows sold $1.00 to $5.00 lower, but lean cows traded $10.00 higher. Slaughter bulls traded steady. The feeder cattle supply over 600 pounds was 75%. The CME Feeder Cattle Index 4/16/2026: down $1.42, $377.67.

LEAN HOGS:

The lean hog complex closed lower as the futures complex was never able to gain the support it needed this week to turn the market's direction. June lean hogs closed $0.62 lower at $101.05, July lean hogs closed $0.67 lower at $103.67 and August lean hogs closed $0.67 lower at $103.90. Hopefully next week traders will give more merit to the uptick in pork demand and the market may be able to form some sort of a technical bottom for this current move. Hog prices closed higher on the Daily Direct Afternoon Hog report, up $0.12 with a weighted average price of $90.28 on 1,738 head. Pork cutouts totaled 307.47 loads with 277.32 loads of pork cuts and 30.14 loads of trim. Pork cutout values: up $2.52, $99.20. Friday's slaughter is estimated at 457,000 head -- 27,000 head less than a week ago and 66,000 head more than a year ago. Saturday's slaughter is projected to be around 77,000 head. The CME Lean Hog Index 4/15/2026: up $0.06, $90.66.

MONDAY'S HOG CALL: Lower. Packers rarely dive wildly into the cash hog market on Mondays.