Tuesday Closing Livestock Market Update - Early Cash Cattle Sales Jump $4.00 Higher

GENERAL COMMENTS:

The livestock complex ended Tuesday mixed as the cattle contracts maintained their rally but the lean hog contracts fell lower. The most exciting news for the day was some early cash cattle sales were noted in Texas at $250, which is $4.00 higher than last week's weighted average. July corn is up 6 1/4 cents per bushel and July soybean meal is down $0.40. The Dow Jones Industrial Average is down 31.64 points and NASDAQ is down 223.30 points.

LIVE CATTLE:

There was talk and speculation the cash market may trade higher, but who would have thought there would be some early sales noted in Texas at $250 -- $4.00 higher than last week's weighted average. It's one thing to see higher trade, but to see a $4.00 advancement in the cash market on a Tuesday indicates packers are shorter bought than most realized and feedlot managers have more power in this week's game than they realized. June live cattle closed $4.55 higher at $253.50, August live cattle closed $3.72 higher at $249.10 and October live cattle closed $3.00 higher at $244.05. Since the early sales of $250 were noted in Texas, bids are up to as much as $252, indicating packers still clearly need more cattle. Asking prices remain elusive at this point. 

Tuesday's slaughter is estimated at 109,000 head -- 2,000 head less than a week ago and 12,000 head less than a year ago.

Boxed beef prices closed mixed: choice down $0.66 ($388.90) and select up $0.18 ($388.78) with a movement of 98 loads (77.63 loads of choice, 7.66 loads of select, zero loads of trim and 12.72 loads of ground beef).

WEDNESDAY'S CATTLE CALL: Higher. With early sales marked as much as $4.00 higher it's tough telling what prices could advance to by the end of the week as clearly packers are short bought and need more cattle.

FEEDER CATTLE:

Thankfully, the feeder cattle contracts were also able to rally throughout Tuesday's trade as the market was not only grateful for the support from the live cattle contract's higher trend, but they were ecstatic to see the advancement in the cash market as more than anything the complex needs strong fundamental support. May feeders closed $4.27 higher at $371.72, August feeders closed $4.80 higher at $373.07 and September feeders closed $5.00 higher at $371.25. At Oklahoma National Stockyard in Oklahoma City, Oklahoma, feeder cattle and steers traded mostly steady compared to last week. With the board trading higher the sale report noted demand was active and strong. Feeder cattle supply over 600 pounds was 75%. The CME Feeder Cattle Index 4/27/2026: up $0.28, $369.62.

LEAN HOGS:

Try as it might, the lean hog complex simply wasn't able to come up with enough fundamental support to pull the contracts higher. With pork cutout values down slightly, a lower day was really the only option for the complex as traders continue to long for stronger support from the market's fundamentals. June lean hogs closed $0.20 lower at $101.97, July lean hogs closed $0.60 lower at $104.42 and August lean hogs closed $0.77 lower at $104.82. Hog prices closed higher on the Daily Direct Afternoon Hog Report, up $2.32 with a weighted average price of $92.56 on 2,275 head. Pork cutouts totaled 340.00 loads with 312.52 loads of pork cuts and 27.48 loads of trim. Pork cutout values: down $0.97, $98.26. Tuesday's slaughter is estimated at 488,000 head -- 1,000 head less than a week ago and 1,000 head more than a year ago. The CME Lean Hog Index 4/24/2026: down $0.18, $91.26.

WEDNESDAY'S HOG CALL: Steady/somewhat higher. Packers were slightly more aggressive in Tuesday's market, but it's likely they'll still need more hogs and could be a tick more aggressive in Wednesday's cash market.

Tuesday Midday Livestock Market Summary - Cattle Continue to Scale Higher With Ample Trader Support

GENERAL COMMENTS:

The livestock complex is trading mixed into Tuesday's noon hour as the cattle contracts continue to surge higher while the lean hog complex keeps a mixed tone. Some bids have surfaced in the fed cash cattle market, but no cattle have traded just yet. July corn is up 4 3/4 cents per bushel and July soybean meal is down $1.80. The Dow Jones Industrial Average is up 44.13 points and NASDAQ is down 337.22 points.

LIVE CATTLE:

The live cattle complex has traded in an unwavering, upward manner Tuesday and as the noon hour nears the same bullish attitude remains. June live cattle are up $4.25 at $253.20, August live cattle are up $3.52 at $248.90 and October live cattle are up $2.90 at $243.95. More than anything it appears traders have more than enough technical support flooding the complex and there's speculation fed cash cattle prices may even trade higher later this week. It's odd to see it this early in the week, but some bids have already surfaced in the countryside; but no cattle have traded yet. Asking prices remain elusive at this point.

Boxed beef prices are lower: choice down $0.38 ($389.18) and select down $1.31 ($387.29) with a movement of 52 loads (38.43 loads of choice, 4.05 loads of select, zero loads of trim and 9.93 loads of ground beef).

FEEDER CATTLE:

With the help of the live cattle market's bullish attitude, the feeder cattle complex remains bold heading into Tuesday's noon hour as most of the contracts are $3.00 to $4.00 higher at this point. The market originally was mixed to mostly lower at the day's start, but upon seeing the live cattle contracts so bullish, the feeder cattle market changed its tune and began to trade higher as well. May feeders are up $3.50 at $370.95, August feeders are up $3.92 at $372.20 and September feeders are up $4.17 at $370.42.

LEAN HOGS:

The lean hog complex is trading mixed into Tuesday's noon hour as the market yearns to trade higher. But until traders see enough fundamental support arise in the marketplace, a mixed tone will likely remain. June lean hogs are up $0.15 at $102.32, July lean hogs are down $0.32 at $104.70 and August lean hogs are down $0.47 at $105.12. It is helpful to note that midday pork cutout values are a tick higher. It would be supportive if that trend were to continue through the day's close.

The projected CME Lean Hog Index for 4/27/2026 is down $0.07 at $91.19, and the actual index for 4/24/2026 is down $0.18 at $91.26. Hog prices are higher on the Daily Direct Morning Hog report, up $1.93 with a weighted average price of $92.25, ranging from $89.00 to $93.25 on 1,130 head and a five-day rolling average of $90.73. Pork cutouts total 156.87 loads with 142.86 loads of pork cuts and 14.01 loads of trim. Pork cutout values: up $0.72, $99.95.

Tuesday Morning Livestock Market Update - Cattle Futures May See Follow-Through Strength

GENERAL COMMENTS:

Stronger boxed beef prices last week, and again on Monday, should provide further support to cattle futures. This alleviates some of the concern over reduced demand for the time being. It may set the stage for higher cash, as feedlots may hold out for higher cash or not sell. A significant influence on Monday may have been the strength in the outside markets. Futures were the recipients of spill-over trading activity. The market on Monday may garner further follow-through buying as technical traders may set their sights on the contract highs. Feeder cattle led the way with strong gains due to optimism. Cash activity at sales was reported as mixed.

Hog futures spent time on both sides of unchanged with limited volatility. Traders found little to influence the market, with no spillover buying interest from the strength of the outside markets. Packers were not aggressive, as the National Daily Direct Afternoon Hog report showed cash down $0.18. Packers should be more aggressive today. Pork cutouts continue to fluctuate, with values down $0.38. Fundamental support remains inconsistent. This may have moved trading activity more to short-term scalping of the market rather than taking long-term positions.

	BULL SIDE		BEAR SIDE
1)	The renewed buying interest in cattle futures may carry over today, as optimism has returned to the market.	1)	The strength in cattle futures may be too much in comparison to the cash market. Just because futures move higher does not mean cash will increase as well.
2)	Higher boxed beef prices indicate demand remains strong. This may continue to support the market and potentially higher cash prices.	2)	Cattle futures may run into overhead price resistance as the market may see a buying threshold near the previous highs.
3)	Limited fundamental support in hog futures did not trigger selling, with traders waiting to see how aggressive packers will be this week.	3)	The strength in the outside markets did not influence the hog market, as traders are focused on the fundamentals, which have not been supportive.
4)	Strong hog slaughter will keep hog supplies current and may eventually tighten the supply as the year progresses.	4)	Increased slaughter has not tightened the hog supply. Packers continue to find sufficient market-ready hogs without having to be aggressive in the cash market.

 

Monday Closing Livestock Market Update - Traders Drove Contracts Higher

GENERAL COMMENTS:

It was a fruitful day for the livestock contracts as the markets closed higher thanks to greater trader interest and support. New showlists appear to be mixed, higher in Kansas and Texas, but lower in Nebraska/Colorado. July corn is up 5 3/4 cents per bushel and July soybean meal is up $8.70. The Dow Jones Industrial Average is down 62.92 points and the NASDAQ is up 50.50 points.

LIVE CATTLE:

It was a prosperous day for the live cattle complex as the market was fully supported by traders, which led to a nice rally through the day's end. June live cattle closed $3.72 higher at $348.95, August live cattle closed $3.72 higher at $245.37 and October live cattle closed $3.57 higher at $241.05. With the added support of stronger boxed beef prices and the hope that fed cash cattle prices will trade higher this week as well, traders were bold throughout Monday's market. New showlists appear to be mixed, higher in Kansas and Texas, but lower in Nebraska/Colorado. Monday's slaughter is estimated at 106,000 head, 9,000 head more than a week ago and 2,000 head more than a year ago.

Last week Northern dressed cattle traded at mostly $386 and Southern live cattle traded at mostly $246, both of which were $2.00 lower than the previous week's weighted average.

Boxed beef prices closed higher: choice up $2.56 ($389.56) and select up $2.53 ($388.60) with a movement of 94 loads (70.13 loads of choice, 6.15 loads of select, 4.70 loads of trim and 13.28 loads of ground beef).

TUESDAY'S CATTLE CALL: Steady to somewhat higher. With May being the strongest demand month of the year historically, there's hope throughout the complex that cash prices will be higher this week.

FEEDER CATTLE:

And in keeping in one perfect unison with the live cattle complex, the feeder cattle contracts also closed higher Monday afternoon. May feeders closed $6.55 higher at $367.45, August feeders closed $6.50 higher at $368.27 and September feeders closed $6.50 higher at $366.25. Demand has been strong in the countryside for calves that will make good grass cattle as the turn-out season is nearing, but with prices so high, buyers have been picky on the type and kind they purchase. At Joplin Regional Stockyards in Carthage, Missouri, compared to last week, feeder steers were selling $10.00 lower to $10.00 higher, with feeder heifers traded unevenly steady from $5.00 lower to $10.00 higher. Feeder cattle supply over 600 pounds was 62%. The CME feeder cattle index for 4/24/2026: up $0.02, $369.34.

LEAN HOGS:

The lean hog complex also enjoyed a modest rally throughout Monday's trade as the market was chalked full of trader support. June lean hogs closed $0.27 higher at $102.17, July lean hogs closed $0.12 higher at $105.02 and August lean hogs closed $0.02 higher at $105.60. And it was slightly disappointing for traders to see pork cutout values tip lower, as they need continued fundamental support to help drive the contracts higher. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $0.18 with a weighted average price of $90.24 on 1,539 head. Pork cutouts totaled 273.25 loads with 236.18 loads of pork cuts and 37.07 loads of trim. Pork cutout values: down $0.38, $99.23. Monday's slaughter is estimated at 489,000 head, 3,000 head less than a week ago and 5,000 head more than a year ago. The CME lean hog index 4/23/2026: up $0.01, $91.44.

TUESDAY'S HOG CALL: Higher. Packers weren't overly aggressive in today's trade, which likely means that they'll need to be more aggressive in Tuesday's market.