Friday Closing Livestock Market Update - Complex Continues to Look for Improved Fundamentals

GENERAL COMMENTS:

The livestock complex closed mixed Friday afternoon as traders simply need to see better fundamental support before they'll confidently push the contracts higher. The big news that will likely rock the cattle complex on Monday is whether the expected plant strike happens at Greeley, Colorado, as JBS and the union laborers haven't agreed on a contract yet. May corn is up 4 3/4 cents per bushel and May soybean meal is up $2.50. The Dow Jones Industrial Average is down 119.38 points and the NASDAQ is down 206.62 points.

From Friday to Friday, livestock futures scored the following changes: April live cattle down $3.67, June live cattle down $2.52; March feeder cattle down $6.15, April feeder cattle down $8.52; April lean hogs down $2.18, June lean hogs down $3.20; March corn up $0.06, May corn up $0.07.

LIVE CATTLE:

It was another glum day for the live cattle complex as traders merely let the market drift lower through the day's end, seeming to acknowledge the fact that it's most likely that next week's complex will be met with another troublesome week, as the plant strike in Colorado is likely going to be the buzz of Monday's market. April live cattle closed $0.35 lower at $230.90, June live cattle closed $0.42 lower at $228.95 and August live cattle closed $0.45 lower at $226.82. The spot April contract did, unfortunately, close below its 100-day moving average, which signals that the market is soberly aware of the challenges currently affecting the complex. Throughout the week, the fed cash cattle market's trade has been light as packers haven't been as aggressive in this week's market as they're preparing for less throughput next week with the likely plant strike in Greeley. Throughout the week, Northern dressed business has been done at mostly $372, $8 lower, and Southern live business was done at mostly $235, $4 lower in Texas, and $5 lower in Kansas.

Friday's slaughter is estimated at 86,000 head, 2,000 head less than a week ago and 12,000 head less than a year ago. Saturday's slaughter is projected to be around 17,000 head. The week's total slaughter is estimated at 525,000 head, 4,000 head more than a week ago and 61,000 head less than a year ago.

Boxed beef prices closed higher: choice up $0.83 ($397.92) and select up $0.72 ($391.54) with a movement of 53 loads (38.30 loads of choice, 3.09 loads of select, 5.30 loads of trim and 6.05 loads of ground beef).

MONDAY'S CATTLE CALL: Lower. If there is a strong possibility that next week the plant in Greeley will be closed due to a labor strike, cash prices will likely suffer.

FEEDER CATTLE:

The feeder cattle complex was able to close mixed Friday afternoon as the market was given a tick more technical support throughout the day than compared to what the live cattle complex saw. March feeders closed $1.25 higher at $349.47, April feeders closed $0.10 higher at $343.10 and May feeders closed $0.75 lower at $339.17. The Oklahoma Weekly Cattle Auction Summary shared that compared to last week and throughout the entire state, feeder steers traded $4.00 to $8.00 lower, but stocker steers traded $20.00 higher. Feeder heifers and heifer calves sold $5.00 to $10.00 lower. Slaughter cows traded steady to $2.00 lower, lean cows sold $10.00 lower and slaughter bulls sold steady. Feeder cattle supply over 600 pounds was 79%. The CME feeder cattle index 3/12/2026: down $2.62, $358.35.

LEAN HOGS:

The lean hog complex closed lower Friday afternoon as the market remained under severe technical pressure. April lean hogs closed $0.90 lower at $93.45, June lean hogs closed $0.80 lower at $107.37 and July lean hogs closed $0.62 lower at $109.30. But without a substantial improvement in the market's fundamentals, traders were left with virtually no other option but to allow the complex to drift lower through the day's end. Hog prices closed $0.43 higher on the Daily Direct Afternoon Hog Report, with a weighted average price of $91.82 on 2,311 head. Pork cutouts totaled 205.64 loads with 173.33 loads of pork cuts and 32.31 loads of trim. Pork cutout values: down $0.10, $100.19. Friday's slaughter is estimated at 490,000 head, 29,000 head more than a week ago and 17,000 head more than a year ago. Saturday's slaughter is projected to be around 74,000 head. The CME lean hog index 3/11/2026: up $0.24, $91.44.

MONDAY'S HOG CALL: Steady. Packers have been slightly more aggressive in the cash market, which is why prices may hold steady early next week.

Friday Midday Livestock Market Update - Mixed Tones Summarize Complex

GENERAL COMMENTS:

The livestock complex continues mixed as traders desire to see the complex trade higher, but need widespread, consistent support before they'll be able to advance the contracts confidently. No new cash cattle trade has developed yet Friday. May corn is up 3 cents per bushel and May soybean meal is up $0.30. The Dow Jones Industrial Average is up 50.72 points and NASDAQ is down 116.43 points.

LIVE CATTLE:

The live cattle complex is mildly higher headed into Friday's noon hour as traders are again allowing the complex to find a little technical support. Currently the spot April contract is trading above its 100-day moving average; monitoring that threshold through the day's end will be vital as traders may not keep the complex above that price-point through closing as there's not much fundamental support in the market. April live cattle are up $0.10 at $231.32, June live cattle are up $0.02 at $229.40 and August live cattle are down $0.02 at $227.25. No new cash cattle trade has developed, but a single bid is on the table at $235 in Kansas. So far this week, Northern dressed business has been done at mostly $372, $8 lower, and Southern live business was done at mostly $235, $4 lower in Texas, and $5 lower in Kansas. A few deals were noted up to $236 in some areas. It's likely trade volumes will remain light this week as there's expected to be a plant strike starting on Monday at the JBS plant in Greeley, Colorado.

Boxed beef prices are higher: choice up $0.16 ($397.25) and select up $0.04 ($390.86) with a movement of 28 loads (21.47 loads of choice, 2.03 loads of select, zero loads of trim and 4.55 loads of ground beef).

FEEDER CATTLE:

The feeder cattle complex is fully higher moving into Friday's noon hour as traders seem confident allowing the contracts to scale mildly higher even though the market's fundamentals haven't been overly supportive this week. March feeders are up $1.60 at $349.62, April feeders are up $0.75 at $343.70 and May feeders are up $0.05 at $339.97. But ahead of the day's end, it wouldn't be surprising to see the market again slip below its 100-day moving average as next week is expected to face challenges with the potential plant strike in Colorado.

LEAN HOGS:

The lean hog complex is again trading lower. Although pork demand may be up slightly, the market doesn't have the technical support it needs. April lean hogs are down $0.77 at $93.57, June lean hogs are down $0.70 at $107.47 and July lean hogs are down $0.60 at $109.32. Helping drive the pork cutout values higher is mostly the $9.02 jump in the belly.

The projected CME Lean Hog Index for 3/12/2026 is up $0.16 at $91.60, and the actual index for 3/11/2026 is up $0.24 at $91.44. Hog prices are lower on the Daily Direct Morning Hog Report, down $0.07 with a weighted average price of $92.09, ranging from $86.00 to $93.00 on 1,941 head and a five-day rolling average of $92.76. Pork cutouts total 121.12 loads with 98.88 loads of pork cuts and 22.24 loads of trim. Pork cutout values: up $0.97, $101.26.

Friday Morning Livestock Market Update - Futures May See Pressure Ahead of the Weekend

GENERAL COMMENTS:

Cash cattle traded on Thursday following the trend of lower cash on Wednesday. Cash traded from $3.00 to $8.00 lower on Thursday. This pattern will be followed today as business will be accomplished for the week. It was a bit surprising that futures were higher with lower cash trade and the JBS plant strike taking place on Monday. These are not friendly fundamentals. However, some buying interest may have resulted from good beef export sales totaling 25,400 metric tons (mt), which is the highest so far this year. Packers continue to slow the slaughter pace, which is increasing boxed beef prices. Choice boxed beef was up $0.39, with select up $1.57. It may be an interesting and volatile day as traders position themselves ahead of the weekend.

Hogs may see further weakness as futures fell and closed below technical support. Traders had little to get excited about after the strong trend higher seemed to have run its course. Cash traded lower as expected, with packers having most of their needs covered. The National Daily Direct Afternoon Hog report was down $1.50. Pork cutout values increased by $1.88. Even though pork demand is good and packers continue to run at higher slaughter speeds, the market corrected from its overbought status. Further selling pressure is expected today as liquidation may continue.

	BULL SIDE		BEAR SIDE
1)	The cattle market may have lower cash trade and the upcoming strike already factored in.	1)	The duration and the impact of the strike at the JBS Greeley plant may result in further liquidation ahead of the weekend.
2)	Boxed beef prices continue to increase as the economic market uncertainty has not reduced consumer demand.	2)	Lower cash cattle trade this week may be followed up next week with similar pressure, as packers are expected to aggressively purchase cattle for later delivery.
3)	Pork demand has been good, and it is expected to remain. Futures are correcting from being overbought. Once that is completed, the market may rebound.	3)	Hog futures have been under pressure for the past two days, with another day of liquidation expected ahead of the weekend.
4)	Hog slaughter continues to run higher than the previous week and the previous year, keeping market-ready hogs current.	4)	Hog futures broke through and closed below technical support, which may trigger further selling pressure.

Thursday Closing Livestock Market Update - Mixed Tones Keep with the Complex

GENERAL COMMENTS:

The livestock market closed mixed as it continues to yearn for better fundamental support. Some more cash cattle trade developed, but prices were steady with Wednesday's trade. May corn is up 2 1/4 cents per bushel and May soybean meal is up $4.80. The Dow Jones Industrial Average is down 739.42 points and the NASDAQ is down 404.15 points.

Thursday's export report shared that beef net sales of 25,400 mt for 2026, a marketing year high, were up noticeably from the previous week and up 87% from the prior 4-week average. The three largest buyers were South Korea (11,600 mt), Japan (5,900 mt) and Hong Kong (3,200 mt). Pork net sales of 23,700 mt for 2026, a marketing year low, were down 34% from the previous week and 30% from the prior 4-week average. The three largest buyers were Mexico (5,200 mt), Japan (3,700 mt) and China (2,900 mt).

LIVE CATTLE:

The live cattle complex closed higher Thursday afternoon as traders were willing to mildly support the market following Wednesday's sharply lower close. The market's 100-day moving average continues to be a tricky price point for the market to manage, as ideally, traders would like to see the complex move above that threshold, but there simply wasn't enough fundamental support evident in the market to make that move happen confidently today. April live cattle closed $1.10 higher at $231.25, June live cattle closed $1.30 higher at $229.37 and August live cattle closed $1.10 higher at $227.27. Some more light trade was reported throughout the day, but prices held mostly steady with Wednesday's business. Yesterday asking prices were around $236 in the South, and $374 in the North, a light trade was reported in Nebraska and Iowa with dressed deals marked at mostly $372, $8 lower than last week's weighted averages, light scattered business took place in the South and was at $235 to $236, $3 lower in Texas, and $5 lower in Kansas. 

Thursday's slaughter is estimated at 108,000 head, 3,000 head less than a week ago and 14,000 head less than a year ago.

Boxed beef prices closed higher: choice up $0.39 ($397.09) and select up $1.57 ($390.82) with a movement of 114 loads (86.61 loads of choice, 7.97 loads of select, 11.44 loads of trim and 8.36 loads of ground beef).

FRIDAY'S CATTLE CALL: Steady. There's a chance that with the strike likely to happen next week in Greeley, Colorado, this week's movement is thin. But any more trade that develops will likely be for steady prices with the week's trend.

FEEDER CATTLE:

The feeder cattle complex wasn't totally convinced that a higher close was the right move for its market, so the nearby contracts opted to remain slightly cautious, but the deferred months followed in the live cattle market's footsteps and closed higher. March feeders closed $0.50 lower at $348.22, April feeders closed $0.30 lower at $343.00 and May feeders closed $0.10 higher at $339.92. At La Junta, Colorado, compared to last week, feeder steers under 600 pounds sold mostly $3.00 to $4.00 lower, with instances of higher prices on high-quality lots. Feeder heifers sold mostly $3.00 to $5.00 lower. Boner slaughter cows of average dressing sold $2.00 lower, while lean cows traded $4.00 lower. Slaughter bulls traded $8.00 higher. Feeder cattle supply over 600 pounds was 45%. The CME feeder cattle index 3/11/2026: not available at this time.

LEAN HOGS:

The lean hog complex ended the day slightly lower as the market simply didn't believe that it possessed enough support to change its direction ahead of the day's end. More than anything, it seems as though the market's resistance around $97 in the spot April contract simply is a tough barrier, and traders aren't willing to pressure it at this time. April lean hogs closed $0.85 lower at $94.35, June lean hogs closed $1.07 lower at $108.17 and July lean hogs closed $1.37 lower at $109.92. Hog prices closed lower on the Daily Direct Afternoon Hog report, down $1.50 with a weighted average price of $91.39, ranging from $86.00 to $94.00 on 1,190 head and a five-day rolling average of $92.42. Pork cutouts totaled 282.74 loads with 262.02 loads of pork cuts and 20.72 loads of trim. Pork cutout values: up $1.88, $100.29. Thursday's slaughter is estimated at 492,000 head, 1,000 head more than a week ago and 9,000 head more than a year ago. The CME lean hog index 3/10/2026: up $0.23, $91.20.

FRIDAY'S HOG CALL: Lower. At this point, it's most likely that traders have bought the bulk of their needs already.