Monday Closing Livestock Market Update - Livestock Complex Remains Mixed

GENERAL COMMENTS:

The livestock complex rounded out Monday mixed with both the live cattle and lean hog contracts needing more support, but the feeder cattle contracts charged higher through the day's end. New showlists appear to be to be slightly higher in Nebraska and Colorado and higher in Kansas and Texas. May corn is down 3/4 cent per bushel and May soybean meal is up $0.10. The Dow Jones Industrial Average is up 301.68 points and NASDAQ is up 280.85 points.

LIVE CATTLE:

The live cattle complex ended Monday mixed as the market seems to hold its breath until traders see whether or not more fundamental support is going to develop later this week. April live cattle closed $1.12 lower at $250.65, June live cattle closed $0.67 lower at $248.52 and August live cattle closed $0.30 lower at $244.45. More than anything following last week's light cash cattle trade, traders are curious what's going to happen in this week's fed cash cattle market. New showlists appear to be slightly higher in Nebraska and Colorado and higher in Kansas and Texas. Monday's slaughter is estimated at 107,000 head -- 9,000 head more than a week ago and 5,000 head less than a year ago.

Last week's cash cattle trade was extremely limited, but a few deals were marked in Kansas at $249, which is $3.00 higher than the previous week's weighted average, and at $246 in Texas, which is $1.00 higher than the previous week's weighted average. Northern dressed cattle traded for $385 to $389, which is steady to $4.00 higher than the previous week's weighted average.

Boxed beef prices are higher: choice up $1.02 ($381.92) and select up $2.30 ($383.64) with a movement of 70 loads (38.32 loads of choice, 5.75 loads of select, 12.15 loads of trim and 13.70 loads of ground beef).

TUESDAY'S CATTLE CALL: Steady to somewhat higher. With Mother's Day and Memorial Day right around the corner, packers don't want to be short bought heading into peak demand season.

FEEDER CATTLE:

The live cattle complex may have closed in a cautious manner, but the feeder cattle complex traded full-speed-ahead higher, as demand for feeder cattle is red hot right now in the countryside. April feeders closed $0.32 higher at $374.47, May feeders closed $0.47 higher at $372.82 and August feeders closed $0.87 higher at $373.32. At Oklahoma National Stockyards in Oklahoma City, Oklahoma, compared to last week and at their midway point, feeder steers were trading steady to $5.00 higher, while feeder heifers were trading $10.00 to $15.00 higher. Steer and heifer calves were selling steady, except heifers weighing 500 to 600 pounds which traded up to $25.00 stronger. Feeder cattle supply over 600 pounds was 72%. The CME Feeder Cattle Index 4/10/2026: up $7.27, $373.94.

LEAN HOGS:

The lean hog complex ended Monday mixed with the nearby contracts unwilling to look at any of the market's positive facets -- such as the uptick in demand -- but the furthest deferred months closed a tick higher. June lean hogs closed $0.60 lower at $103.12, July lean hogs closed $0.50 lower at $106.07 and August lean hogs closed $0.50 lower at $105.95. Until traders are confident there's enough demand in the market to stabilize the futures complex a steady to slightly lower trend may be the norm. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $0.32 with a weighted average price of $89.04 on 1,616 head. Pork cutouts totaled 279.30 loads with 244.06 loads of pork cuts and 35.24 loads of trim. Pork cutout values: up $0.44, $99.14. Monday's slaughter is estimated at 492,000 head -- 125,000 head more than a week ago and 8,000 head more than a year ago. The CME Lean Hog Index 4/9/2026: down $0.01, $90.28.

TUESDAY'S HOG CALL: Steady to somewhat higher. With packers not very aggressive in Monday's market, there's a chance they could be slightly more active in Tuesday's trade.

Monday Midday Livestock Market Summary - Mixed Tones Overcome Complex

GENERAL COMMENTS:

The livestock complex is trading mixed into Monday's noon hour as once again traders scan the complex for continued support. New showlists appear to be to be slightly higher in Nebraska and Colorado and higher in Kansas and Texas. May corn is up 2 3/4 cents per bushel and May soybean meal is up $1.40. The Dow Jones Industrial Average is down 43.07 points and NASDAQ is up 133.91 points.

LIVE CATTLE:

Thus far it's been a fairly slow, mundane start to the week as the live cattle futures are trading just above steady in most of the contracts, expect for the spot and nearby months which are trading slightly lower. June live cattle are down $0.45 at $248.75, August live cattle are steady at $244.75 and October live cattle are up $0.12 at $240.67. Following the massive rally the market has experienced over the last two trading weeks, it's likely the complex won't push much higher until traders see what's going to develop in terms of fundamental support this week. Currently the spot June live cattle contract is $5.02 higher than the previous all-time high scored last October before the market raced lower. New showlists appear to be to be slightly higher in Nebraska andColorado and higher in Kansas and Texas.

Last week's cash cattle trade was extremely limited, but a few deals were marked in Kansas at $249, which is $3.00 higher than the previous week's weighted average, and at $246 in Texas, which is $1.00 higher than the previous week's weighted average. Northern dressed cattle traded for $385 to $389, which is steady to $4.00 higher than the previous week's weighted average.

Boxed beef prices are higher: choice up $1.07 ($381.97) and select up $3.17 ($384.51) with a movement of 31 loads (18.58 loads of choice, 3.80 loads of select, 5.00 loads of trim and 4.09 loads of ground beef).

FEEDER CATTLE:

The live cattle complex may be headed into the new week cautiously, but the feeder cattle complex is trading fully higher as demand from the countryside is helping keep traders active in the complex. April feeder cattle are steady at $374.15, May feeders are up $0.57 at $372.92 and August feeders are up $1.12 at $373.57. So long as demand remains strong again this week from buyers, the market will likely keep with its steady/somewhat higher trend.

LEAN HOGS:

Although pork cutout values are higher on the midday report and were slightly higher late last week, the hog complex continues to trend lower as the market simply isn't seeing the technical interest it needs. June lean hogs are down $0.65 at $103.07, July lean hogs are down $0.50 at $106.07 and August lean hogs are down $0.42 at $106.02. Hopefully the market is nearing the bottom to this current move and if support from consumers remains stable this week, trades may be able to begin to pull the contracts higher later in the week.

The projected CME Lean Hog Index for 4/10/2026 is down $0.01 at $90.27, and the actual index for 4/9/2026 is down $0.01 at $90.28. Hog prices are lower on the Daily Direct Morning Hog Report, down $0.16 with a weighted average price of $89.23, ranging from $88.00 to $91.00 on 441 head and a five-day rolling average of $90.04. Pork cutouts total 125.67 loads with 104.91 loads of pork cuts and 20.76 loads of trim. Pork cutout values: up $1.11, $99.81.

 

Monday Morning Livestock Market Update - Cattle Futures Have Higher Cash Factored In

GENERAL COMMENTS:

Limited cash trading activity took place last week, leaving the market in a precarious position of uncertainty. It is uncertain over the volume of cattle sales through Friday, as there was little information regarding transactions in the South. However, some sales were reported on Saturday, with some live sales in the North reported from $3.00 to $5.00 higher. This creates an interesting scenario as boxed beef prices were lower on Friday. Choice declined $0.19, with select down $0.23. The renewed increase in the crude oil price may have an impact on demand as consumers adjust to higher fuel prices. The talks breaking down with Iran over the weekend may indicate that higher fuel prices will continue. The Commitment of Traders report showed fund traders increased their net-long position in live cattle by 9,863 futures positions to 129,416 contracts. They added 268 futures contracts to bring their net-long position in feeder cattle to 21,115.

The week had not been kind to hog futures, with the spike higher last Monday being eliminated and then some throughout the rest of the week. Contracts are nearing the previous lows. This level will need to hold, or further liquidation could be triggered. Last week, traders could not find fundamental support to encourage renewed buying in futures. The failure to hold Monday's gains resulted in weakness the rest of the week. Both cash and cutouts showed little strength. However, on Friday, pork cutouts increased by $1.32. The National Daily Direct Afternoon Hog report showed cash down $0.56. Hog slaughter continues to increase, providing a sufficient supply of pork, which seems to mask increased pork demand. Hog runs may tighten over time. The Commitment of Traders report showed fund traders adding 3,204 long futures positions to increase their net longs to 88,726.

	BULL SIDE		BEAR SIDE
1)	New contract highs in the April through October live cattle futures should keep buying interest strong.	1)	It looks like high fuel prices will be around for an extended period of time, as a resolution with Iran may not take place anytime soon. This may impact beef demand.
2)	A higher cash cattle trade with limited cattle movement may result in packers being short bought.	2)	Cattle futures are overbought, which may result in a market correction at any time.
3)	The continued increase in hog slaughter means demand is improving. This will keep hog supplies current.	3)	If hog futures are unable to hold support, further liquidation could be triggered.
4)	Continued high beef prices and higher prices for fuel and food may reduce demand for beef and increase demand for pork.	4)	Market-ready hogs are readily available, leaving packers less aggressive in the cash market.

Friday Closing Livestock Market Update - Cattle Round Out Higher; No Cash Cattle Trade Has Yet Developed

GENERAL COMMENTS:

The livestock complex closed Friday mixed with the cattle contracts continuing to rally while the hog contracts ventured lower. Still no cash cattle trade has developed at the time of this writing. May corn is down 3 cents per bushel and May soybean meal is up $14.20. The Dow Jones Industrial Average is down 269.57 points and NASDAQ is up 80.85 points.

From Thursday to Friday the livestock futures scored the following changes: April live cattle up $5.58, June live cattle up $2.88; April feeder cattle up $1.25, may feeder cattle up $1.73; April lean hogs up $0.38, June lean hogs down $0.75; May corn down $0.11, July corn down $0.12.

LIVE CATTLE:

What a day, what a day, what a day it was! Although the futures market may have closed, there's still a pile of business left to be done in the fed cash cattle market as no trades have yet been reported. There's been a few deals marked in Iowa at $250, but largely the market sits untested at the time of this writing as packers and feedlot managers go head-to-head. both obviously wanting the market to trend in different directions. Asking prices remain firm in the North at $392 to $395 and in the South at $250. Bids are currently on the table in Kansas at $246 and in Nebraska at $385 dressed. April live cattle closed $2.00 higher at $251.77, June live cattle closed $2.00 higher at $249.20 and August live cattle closed $1.40 higher at $244.75. More than anything traders held strong to the hope that fundamental support would develop later in the fed cash cattle market, as they personally seem to want the market to trend higher at this point.

Friday's slaughter is estimated at 83,000 head -- 13,000 head less than a week ago and 11,000 head less than a year ago. Saturday's slaughter is projected to be around 4,000 head. The week's total slaughter is estimated at 512,000 head -- 21,000 head less than a week ago and 51,000 head less than a year ago.

Boxed beef prices closed lower: choice down $0.19 ($380.90) and select down $0.23 ($381.34) with a movement of 84 loads (55.87 loads of choice, 5.13 loads of select, 4.82 loads of trim and 18.25 loads of ground beef).

MONDAY'S CATTLE CALL: Steady. Before we try to speculate how next week's trade may pan out, we need to see what this week's market does.

FEEDER CATTLE:

Feeder cattle futures also scaled higher through Friday's end as the market is currently seeing ample support pour into its complex. Between the strong buyer demand in the countryside and the willingness of traders to help push the contracts higher, the market was well positioned to close higher Friday afternoon. April feeders closed $1.62 higher at $374.15, May feeders closed $1.92 higher at $372.35 and August feeders closed $2.32 higher at $372.45. The Oklahoma Weekly Cattle Auction summary shared that compared to last week, feeder steers over 850 pounds traded $5.00 to $11.00 higher and steers under 850 pounds traded steady to $5.00 higher. Feeder heifers sold steady to $6.00 higher. Steer calves sold $5.00 to $10.00 stronger and heifer calves sold $3.00 to $5.00 higher. Slaughter cows sold $5.00 to $6.00 higher and slaughter bulls sold $2.00 higher. Feeder cattle supply over 600 pounds was 71%. The CME Feeder Cattle Index 4/9/2026: up $2.57, $366.67.

LEAN HOGS:

The lean hog complex ended Friday lower, simply unable to convince traders the market had enough stable support to trade higher. June lean hogs closed $0.40 lower at $103.72, July lean hogs closed $0.35 lower at $106.57 and August lean hogs closed $0.42 lower at $106.45. Hopefully, the market is beginning to find a technical bottom for its current move and can find some stability in next week's trade. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $0.56 with a weighted average price of $89.36 on 1,099 head. Pork cutouts totaled 294.96 loads with 251.12 loads of pork cuts and 43.82 loads of trim. Pork cutout values: up $1.32, $98.70. Friday's slaughter is estimated at 484,000 head -- 64,000 head more than a week ago and 8,000 head more than a year ago. Saturday's slaughter is projected to be around 148,000 head. The CME Lean Hog Index 4/8/2026: down $0.01, $90.29.