GENERAL COMMENTS:
The livestock complex is trading mixed into Tuesday's noon hour as the market looks for continued fundamental support. At this point, no cash cattle trade has developed yet. July corn is down 2 1/4 cents per bushel and July soybean meal is up $2.70. The Dow Jones Industrial Average is up 109.80 points and NASDAQ is down 383.87 points.
LIVE CATTLE:
The live cattle complex is trading mixed into Tuesday's noon hour as the market would love to continue with its brave upward climb, but before the nearby contracts will advance any further, traders want to see continued fundamental support. Luckily, midday boxed beef prices are higher, which is helping keep the deferred contracts trading strong, but until the nearby contracts see what's going to become of this week's fed cash cattle market, they'll likely remain in a lower state. June live cattle are down $0.30 at $255.52, August live cattle are down $0.52 at $246.82 and October live cattle are down $0.25 at $240.75. No bids or asking prices are noted in the fed cash cattle market yet.
Boxed beef prices are higher: choice up $4.20 ($400.26) and select up $7.18 ($382.77) with a movement of 59 loads (32.00 loads of choice, 7.20 loads of select, 8.22 loads of trim and 11.69 loads of ground beef).
FEEDER CATTLE:
The feeder cattle complex is in the same boat as the live cattle complex as its nearby contracts are hesitant to trade higher, but at least the deferred contracts are trading stronger. August feeders are down $0.97 at $369.45, September feeders are down $0.62 at $368.20 and October feeders are down $0.17 at $365.85. Luckily the demand in the countryside has remained red hot over the last week, and hopefully, even though the board is trading mixed, that level of support from buyers will remain strong.
LEAN HOGS:
The lean hog contracts are trading mostly higher into Tuesday's noon hour as the market has seemed to attract more trader interest. Unfortunately, today's support isn't multifaceted as fundamental support is lagging as midday pork cutout values are a tick lower. July lean hogs are down $0.35 at $94.30, August lean hogs are up $0.87 at $97.60 and October lean hogs are up $0.70 at $81.55. Do remember that this Thursday, the Quarterly Hogs and Pigs report is set to be released.
The projected lean hog index for 6/22/2026 is down $0.30 at $91.47 and the actual index for 6/19/2026 is down $0.67 at $91.77. Hog prices average $97.47 on the Daily Direct Morning Hog Report, ranging from $94.00 to $98.00 on 2,340 head and a five-day rolling average of $97.09. Pork cutouts total 186.48 loads with 166.13 loads of pork cuts and 20.35 loads of trim. Pork cutout values: down $0.54, $95.54.


