Thursday Midday Livestock Market Summary - Stronger Feeder Cattle Demand Helps Feeder Cattle Contracts Close Higher

GENERAL COMMENTS:

It was another quiet day for the livestock complex, with an unsettled nature remaining in the live cattle and lean hog markets, but the feeder cattle contracts ended the day stronger thanks to more aggressive demand in the countryside. No cash cattle trade developed throughout the day. December corn is down 5 3/4 cents per bushel and December soybean meal is up $1.60. The Dow Jones Industrial Average is down 365.58 points and the NASDAQ is down 172.42 points.

LIVE CATTLE:

The live cattle complex ended the day mixed, with most of the nearby contracts ending the day lower while the deferred contracts ended the day higher. More than anything, the market simply wasn't willing to trade any higher without continued fundamental support. The fed cash cattle market didn't see any sizeable trade develop, but asking prices are noted at $225 in the South. It's likely that following last week's trade, packers have ample supply committed to them and could be harder to trade with. October live cattle closed $1.17 lower at $215.85, December live cattle closed $0.75 lower at $218.47 and February live cattle closed $0.12 lower at $220.32. 

Wednesday's slaughter is estimated at 109,000 head -- 9,000 head more than a week ago and 10,000 head less than a year ago.

Boxed beef prices closed mixed: choice up $3.20 ($380.77) and select down $3.05 ($352.34) with a movement of 143 loads (71.27 loads of choice, 20.68 loads of select, 31.91 loads of trim and 19.08 loads of ground beef).

THURSDAY'S CATTLE CALL: Steady. It's likely that the market will trade steady at best this week as packers have been able to secure supply in recent weeks.

FEEDER CATTLE:

Although the live cattle contracts closed mostly lower in their nearby months, the feeder cattle contracts were able to end the day higher thanks to traders recognizing the stronger demand in the countryside. September feeders closed $0.82 higher at $329.70, October feeders closed $0.37 higher at $325.82 and November feeders closed $0.90 higher at $321.35. At the Winter Livestock Auction in Dodge City, Kansas, compared to last week, heifers weighing 650 pounds or more sold steady to $3.00 higher. Steers and heifers under 650 pounds sold $20.00 higher. Feeder steers weren't well tested. Feeder cattle supply over 600 pounds was 59%. The CME feeder cattle index 9/8/2026: up $0.45, $327.43.

LEAN HOGS:

The lean hog complex ended the day lower too as traders simply remain on edge about challenging the market's nearby resistance. And while yes, pork cutout values ended the day higher, traders also want to see consistent support before they go up against much more pressure. October lean hogs closed $1.17 lower at $83.07, December lean hogs closed $0.45 lower at $74.60 and February lean hogs closed $0.67 lower at $76.97. Hog prices were higher on the Daily Direct Afternoon Hog Report, up $0.90 with a weighted average price of $87.25 on 5,568 head. Pork cutouts totaled 349.84 loads, with 313.02 loads of pork cuts and 36.82 loads of trim. Pork cutout values: up $1.81, $93.63. Wednesday's slaughter is estimated at 492,000 head -- 16,000 head more than a week ago and 1,000 head more than a year ago. The CME lean hog index 9/4/2026: down $0.89, $89.65.

THURSDAY'S HOG CALL: Steady. It's noteworthy that consumer demand remains strong, which could encourage packers to pay a little more in the cash market.

Wednesday Midday Livestock Market Summary - Weaker Trends Take Over the Cattle Complex as Traders Hope for Greater Support

GENERAL COMMENTS:

The livestock complex is trading mostly lower into midday Wednesday as the market is hoping for greater fundamental support to arise. Asking prices are noted at $225 in the South, but no trade has developed yet. December corn is down 4 1/4 cents per bushel and December soybean meal is down $0.50. The Dow Jones Industrial Average is down 411.14 points and the NASDAQ is down 201.50 points.

LIVE CATTLE:

Although the live cattle contracts started the day off stronger, the market is now trading lower into midday Wednesday as traders aren't confident that any immediate fundamental support is going to develop, and don't feel comfortable moving the market any higher of their own accord. October live cattle are down $1.52 at $215.50, December live cattle closed $1.00 lower at $218.22 and February live cattle closed $0.70 lower at $219.75. The cash cattle market remains quiet heading into Wednesday's noon hour, with no bids having surfaced just yet. Asking prices are noted at $225 in the South but are still not well established in the North. It's likely that trade will be delayed until later in the week.

Boxed beef prices are mixed: choice up $4.61 ($382.18) and select down $0.34 ($355.05) with a movement of 84 loads (39.72 loads of choice, 6.86 loads of select, 25.20 loads of trim and 12.69 loads of ground beef).

FEEDER CATTLE:

And as expected, if the live cattle contracts are trading lower, so are the feeder cattle contracts. September feeders are down $0.72 at $328.12, October feeders are down $0.92 at $324.60 and November feeders are down $0.22 at $320.22. With the market's 40-day moving average looming overhead, it's unlikely that the contracts will trade much higher unless the live cattle complex grows stronger, as that technical resistance currently stands as too much of a barrier for trades to rival.

LEAN HOGS :

The lean hog complex is back to trading lower as traders sit and wait, hoping to see greater support develop. October lean hogs are down $1.60 at $82.65, December lean hogs are down $0.87 at $74.17 and February lean hogs are down $1.00 at $76.65. It is supportive that midday pork cutout values are higher, but traders not only need to see higher prices but also consistency in demand. The projected lean hog index for 9/8/2026 is down $0.86 at $88.79 and the actual index for 9/7/2026 is down $0.89 at $89.65. Hog prices average $87.72 on the Daily Direct Morning Hog Report, ranging from $81.00 to $89.50 on 2,692 head, with a five-day rolling average of 87.57. Pork cutouts total 223.10 loads, with 194.50 loads of pork cuts and 28.60 loads of trim. Pork cutout values: up $2.28, $94.10.

Wednesday Morning Livestock Market Update - Lawmakers Move to Block 90-day Beef Import Plan

GENERAL COMMENTS:

Cattle futures posted a strong day as the market opened stronger and never looked back. The free fall in cash may have subsided, giving traders the confidence to buy into an oversold market. The MACD technical indicator also crossed over, turning higher. Traders following technical indicators may feel more confident that a price retracement could unfold. If cash prices find stability this week, futures will rebound to reduce some of the discount they contain. Boxed beef prices did not provide strong support to the market, with choice up $1.40 and select down $0.48. Lawmakers are moving to block the importation of the large volume of beef over a 90-day period that is intended to reduce beef prices to consumers. If this is successful, futures will see further gains.

Hog futures regained the losses on Friday and then some, closing at the highest level since Aug. 10. The strength did not come from an increase in pork cutout prices, as cutouts declined $1.04. Packers did not release a price change for the National Daily Direct Afternoon Hog report even though cash trading activity was solid. The weighted average price was $86.35. Hog futures are not oversold, rendering the strength on Tuesday likely the anticipation of increasing positive fundamentals over time. However, futures likely will remain choppy as an uptrend develops.

	BULL SIDE		BEAR SIDE
1)	Cattle futures are oversold, and the MACD has crossed over, which may provide confidence for technical traders to buy into the market.	1)	Boxed beef prices have been choppy recently, which may limit what packers are willing to pay for cattle.
2)	If the importation of 300,000 metric tons (mt) of beef is successfully blocked, cattle futures will see further strength.	2)	Cash cattle this week are expected to be no better than steady as packers continue to slaughter fewer animals.
3)	Hog futures regaining what they lost on Friday may indicate the market may have found support.	3)	Hog futures are expected to remain choppy as traders have not had the confidence to establish long-term positions, but rather continue to day trade the market.
4)	Packers should remain aggressive Wednesday as they did not purchase a large volume of hogs on Tuesday.	4)	Pork cutout prices remain choppy, lacking consistent support. This will continue to limit the upside price potential.

Tuesday Closing Livestock Market Update - Traders Push Contracts Higher

GENERAL COMMENTS:

Tuesday ended up being the supportive push that the livestock complex was hoping for. But with traders willing to advance the contracts in hope that fundamental support will develop later this week, all three of the livestock markets ended the day higher. December corn is down 3 1/4 cents per bushel and December soybean meal is down $5.30. The Dow Jones Industrial Average is down 566.84 points and the NASDAQ is down 77.08 points.

LIVE CATTLE:

All in all it was a supportive day for the live cattle complex as the contracts continued to rally, springboarding off of last week's momentum, and hoping that support will continue to build in the upcoming week. October live cattle closed $4.07 higher at $217.02, December live cattle closed $4.50 higher at $219.22 and February live cattle closed $3.87 higher at $220.45. No cash cattle trade was noted throughout the day, and both bids and asking prices remain elusive at this time. But it is assumed that prices will trade steady at best this week. 

Tuesday's slaughter is estimated at 109,000 head -- 3,000 head more than a week ago and 11,000 head less than a year ago.

Boxed beef prices closed mixed: choice up $1.40 ($377.57) and select down $0.48 ($355.39) with a movement of 83 loads (58.48 loads of choice, 17.03 loads of select, zero loads of trim and 7.34 loads of ground beef).

WEDNESDAY'S CATTLE CALL: Steady. Given that packers have plenty of supply available to them, it's likely that prices will be steady at best this week.

FEEDER CATTLE:

And upon seeing plenty of support from the live cattle complex, trader felt as although it was easy decision to push the feeder cattle contracts higher too. September feeders closed $4.05 higher at $328.87, October feeders closed $5.30 higher at $325.45 and November feeders closed $5.72 higher at $320.45. The market is nearing it's 40-day moving average, which could pose as a technical barrier unless fundamental support is strong enough to surpass that threshold. The CME feeder cattle index 9/7/2026: down $0.60, $326.98.

LEAN HOGS:

The lean hog complex was also able to rally through Tuesday's close, thanks to the continued support of traders. It was disheartening to see pork cutout values close lower, which will need to be stronger later this week if the market is going to continue to trade higher and surpass the resistance threshold at $75.00. October lean hogs closed $1.95 higher at $84.25, December lean hogs closed $2.57 higher at $75.05 and February lean hogs closed $2.42 higher at $77.65. Hog prices on the Daily Direct Afternoon Hog Report averaged $86.35, ranging from $76.00 to $89.50 on 3,840 head. Pork cutouts total 264.38 loads with 240.21 loads of pork cuts and 24.18 loads of trim. Pork cutout values: down $1.09, $91.77. Tuesday's slaughter is estimated at 483,000 head -- 11,000 head more than a week ago and steady with a year ago. The CME lean hog index 9/3/2026: down $0.54, $90.54.

WEDNESDAY'S HOG CALL: Steady to somewhat higher. Packers weren't very aggressive in Tuesday's market which likely means that they'll need to participate more in Wednesday's market.