Monday Closing Livestock Market Update - Traders Help Support the Complex at the Week's Start

GENERAL COMMENTS:

All in all, it was a good day for the livestock complex, as contracts mostly ended the day higher, thanks to continued trader support. New showlists for the week are lower in all major feeding regions. December corn is down 1/4 cent per bushel and December soybean meal is down $1.80. The Dow Jones Industrial Average is down 60.95 points and the NASDAQ is down 85.26 points.

LIVE CATTLE:

The live cattle complex ended the day higher as traders remain hopeful that the market's fundamentals will prevail later this week and continue to lend ample support to the market. And while yes, the market did see an impressive $7.06 increase in the choice cut today, I personally believe that this week's fed cash cattle market may have an uphill battle ahead of it as packers were able to secure a large volume of cattle last week. August live cattle closed $1.57 higher at $233.27, October live cattle closed $1.62 higher at $226.90 and December live cattle closed $1.80 higher at $225.95. Monday's slaughter is estimated at 96,000 head -- 6,000 head more than a week ago and 6,000 head less than a year ago. New showlists for the week are lower in all major feeding regions.

Last week Northern dressed cattle traded at mostly $370, which is $3.00 higher than last week's weighted average, and Southern live cattle traded at mostly $235, which is $2.00 higher than last week's weighted average. Last week's negotiated cash cattle trade totaled 104,609 head. Of that, 84% (87,876 head) were committed to the market's nearby delivery option, while the remaining 16% (16,733 head) were committed to the market's deferred delivery option. That is the largest weekly cash cattle trade thus far for 2026.

Boxed beef prices closed mixed: choice up $7.06 ($371.42) and select down $1.53 ($350.84) with a movement of 69 loads (41.68 loads of choice, 13.93 loads of select, 5.23 loads of trim and 8.06 loads of ground beef).

TUESDAY'S CATTLE CALL: Lower. With packers able to secure that much inventory last week, it's likely that this week's trade will be lower.

FEEDER CATTLE:

The feeder cattle complex kept its mixed position throughout the day as the market's nearby contracts closed lower, but the deferred contracts were able to remain higher like the live cattle contracts through Monday's close. August feeders closed $0.90 lower at $350.75, September feeders closed $0.65 lower at $344.57 and October feeders closed $0.95 higher at $335.87. At the Oklahoma National Stockyards in Oklahoma City, Oklahoma, compared to last week, feeder steers traded steady to $5.00 higher and feeder heifers sold mostly steady. The sale report did note that "high heat and extremely dry conditions is limiting the demand for calves, and especially for unweaned calves. Feeder cattle supply over 600 pounds was 60%. The CME feeder cattle index 8/7/2026: down $1.38, $355.98.

LEAN HOGS:

With the help of strong support in both the cash market and in regard to consumer demand, the lean hog contracts were able to rally through Monday's close. October lean hogs closed $1.45 higher at $83.67, December lean hogs closed $1.55 higher at $75.12 and February lean hogs closed $1.35 higher at $78.47. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $0.99 with a weighted average price of $96.68 on 7,845 head. Pork cutouts totaled 237.98 loads with 216.91 loads of pork cuts and 21.07 loads of trim. Pork cutout values: up $0.31, $101.81. Monday's slaughter is estimated at 483,000 head -- 65,000 head more than a week ago and 2,000 head more than a year ago. The CME lean hog index 8/6/2026: down $0.36, $96.30.

TUESDAY'S HOG CALL: Steady/somewhat higher. Packers are obviously short bought and will likely need more hogs.

Monday Midday Livestock Market Update - Traders Push Contracts Higher

GENERAL COMMENTS:

Aside from a couple of the nearby feeder cattle contracts, the livestock complex is trading higher into Monday's noon hour. New showlists for the week are lower in all major feeding regions. December corn is down 1/2 cent per bushel and December soybean meal is down $1.60. The Dow Jones Industrial Average is down 33.37 points and the NASDAQ is down 15.30 points.

LIVE CATTLE:

The live cattle complex is trading higher into Monday's noon hour thanks to the support seen last week in the fed cash cattle market. Late last week the market did soften as traders were leery of challenging the market's resistance at its 40-day moving average. But luckily at this point traders haven't seemed concerned about that technical challenge. August live cattle are up $1.00 at $232.70, October live cattle are up $2.07 at $227.35 and December live cattle are up $2.17 at $226.32. No bids or asking prices have surfaced yet for this week's fed cash cattle market, and it's likely that trade will be delayed until the later part of the week. New showlists for the week are lower in all major feeding regions.

Last week Northern dressed cattle traded at mostly $370, which is $3.00 higher than last week's weighted average, and Southern live cattle traded at mostly $235, which is $2.00 higher than last week's weighted average.

Boxed beef prices closed mixed: choice up $7.21 ($371.57) and select down $2.29 ($350.08) with a movement of 34 loads (16.36 loads of choice, 8.76 loads of select, 3.66 loads of trim and 5.21 loads of ground beef).

FEEDER CATTLE:

The feeder cattle complex is trading mixed as traders are a little more cautious early this week in the feeder cattle arena. Could it be because the border is set to reopen to Mexican cattle imports in less than two weeks? Or is it the technical resistance at the market's 40-day moving average that is still causing some anxiety? Either way, the spot and nearby contracts in the feeder cattle complex remain on edge while the deferred contracts are following in the live cattle complex's higher direction. August feeders are down $1.65 at $350.00, September feeders are down $1.10 at $344.12 and October feeders are up $0.45 at $335.37.

LEAN HOGS:

And with the help of stronger pork cutout values at Monday's start, the lean hog contracts are also trading higher into Monday's noon hour. August lean hogs are up $0.20 at $95.70, October lean hogs are up $1.92 at $84.15 and December lean hogs are up $1.95 at $75.52. Last week consumer demand was choppy which caused the futures complex some trouble, but hopefully the market's stronger start early this week will carry on throughout the duration of the week and help the market regain what was lost last week. The projected lean hog index for 8/7/2026 is down $0.21 at $96.09 and the actual index for 8/6/2026 is down $0.36 at $96.30. Hog prices are not available on the Daily Direct Morning Hog Report because of confidentiality. However we can see that only 295 head have traded and that the market's five-day rolling average now sits at $98.90.

Pork cutouts total 127.74 loads with 115.79 loads of pork cuts and 11.94 loads of trim. Pork cutout values: up $1.15, $102.65.

Monday Morning Livestock Market Update - Higher Futures Expected to Begin Week

GENERAL COMMENTS:

Cash cattle closed the week in line with where trading began earlier in the week. Northern dressed cattle averaged $3.00 higher while Southern live cattle traded $2.00 higher. This was not as high as some had hoped, but higher nevertheless. The market struggled the last half of the week despite cash trading higher. Boxed beef prices closing higher on Friday may provide support to begin the week. Choice boxed beef increased $0.50, with select up $2.59. Higher boxed beef prices will need to continue, or traders could become disillusioned, resulting in lower futures. Feeder cattle closed higher, regaining some of the losses of Thursday, but not enough to turn the trend higher. The Commitments of Traders report showed fund traders reducing their long futures position by 2,059 contracts in live cattle to a net-long of 64,966. They added 1,413 long futures positions in feeder cattle, increasing it to a net-long of 10,400 contracts.

Hog futures showed evidence of spread trading with contracts through April closing higher and later contracts closing lower. The gains and losses were not large as traders remain uncertain about the level of demand to be seen. The August contract will cease trading on Friday. The October contract carries a substantial discount to the August contract, indicating traders are not optimistic about cash moving through the rest of the year. The National Daily Direct Afternoon Hog report showed cash down $0.63. Packers may step up Monday to purchase hogs, as they were not aggressive during the last half of last week. Pork cutout values were up $2.24, moving the price back above the $100 level to $101.50. The Commitments of Traders report showed the funds as net sellers of 61 futures contracts, increasing their short position to 19,179.

	BULL SIDE		BEAR SIDE
1)	Higher cash cattle trade last week may indicate the slide is over and steady to higher cash will unfold over the next weeks.	1)	The uptrend in cattle has been compromised and further weakness could surface that may result in futures retesting the lows.
2)	The drought and wildfires will reduce the desire for ranchers to retain heifers and expand their herds.	2)	Higher cash cattle prices did not trigger aggressive trader buying interest. The market will need to prove itself.
3)	Nearby hog futures bounced off support, possibly indicating traders are not willing to push prices any lower.	3)	Traders need to see consistent demand support for pork. So far, that has been lacking.
4)	Pork cutout values pushed back above $101 on Friday. Demand may continue to support the market.	4)	Packers continue to find sufficient hogs available for purchase without having to be aggressive in the cash market.

Friday Closing Livestock Market Update - Traders Push Cattle Contracts Higher

GENERAL COMMENTS:

The livestock complex ended the day mixed, with the cattle contracts able to end the day mostly higher, but only the lean hog nearby contracts ended the day stronger. Some light cleanup trade was noted throughout the day in the cash market, but prices held steady with the week's weighted average. December corn is steady and December soybean meal is steady. The Dow Jones Industrial Average is up 151.83 points and the NASDAQ is up 342.27 points.

From Friday to Friday, livestock futures scored the following changes: August live cattle down $0.05, October live cattle down $1.97; August feeder cattle up $3.63, September feeder cattle up $1.45; August lean hogs down $3.35, October lean hogs down $2.62; September corn down $0.02 December corn down $0.02.

LIVE CATTLE:

The live cattle complex was able to gain more trader support throughout the day and close mostly higher thanks to the help of stronger boxed beef prices and a rallying cash cattle market. August live cattle closed $0.47 higher at $231.70, October live cattle closed $0.35 higher at $225.27 and December live cattle closed $0.22 lower at $224.15. Throughout the week, Northern dressed cattle traded at mostly $370, which is $3.00 higher than last week's weighted average and Southern live cattle traded at mostly $235, which is $2.00 higher than last week's weighted average. 

Friday's slaughter is estimated at 95,000 head -- 3,000 head less than a week ago and 9,000 head more than a year ago. Saturday's slaughter is projected to be around 1,000 head. The week's total slaughter is estimated at 509,000 head -- 3,000 head less than a week ago and 27,000 head less than a year ago.

Boxed beef prices closed higher: choice up $0.50 ($364.36) and select up $2.59 ($352.37) with a movement of 60 loads (37.86 loads of choice, 6.32 loads of select, 7.75 loads of trim and 8.01 loads of ground beef).

MONDAY'S CATTLE CALL: Steady. Packers were able to get more cattle bought this week, and with August contracts available now, next week's trade could be a gamble on which way the week's weighted average will land.

FEEDER CATTLE:

As the live cattle contracts closed higher, so did the feeder cattle contracts. August feeder cattle closed $3.60 higher at $351.65, September feeder cattle closed $3.65 higher at $345.22 and October feeder cattle closed $2.97 higher at $334.92. The Oklahoma Weekly Cattle Auction Summary shared that compared to a week ago, feeder steers traded $5.00 to $10.00 higher, except those weighing 600 to 700 pounds, which traded $15.00 to $20.00 higher. Feeder heifers traded $10.00 to $20.00 higher. Steer calves sold steady to $6.00 higher. Heifer calves over 500 pounds sold $20.00 to $25.00 higher, but those under 500 pounds traded unevenly steady. Feeder cattle supply over 600 pounds was 68%. The CME feeder cattle index 8/6/2026: up $4.43, $357.36.

LEAN HOGS:

The lean hog complex ended the day mixed, with the market's nearby contracts able to end the day slightly higher while the deferred contracts closed lower. More than anything, the market was challenged this week by the mixed support of consumers. August lean hogs closed steady at $95.50, October lean hogs closed $0.50 higher at $82.22 and December lean hogs closed $0.35 higher at $73.57. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $0.63 with a weighted average price of $97.67 on 1,727 head. Pork cutouts totaled 314.47 loads with 287.75 loads of pork cuts and 26.72 loads of trim. Pork cutout values: up $2.24, $101.50. Friday's slaughter is estimated at 395,000 head -- 17,000 head less than a week ago and 74,000 head less than a year ago. Saturday's slaughter is projected to be around 24,000 head. The projected lean hog index for 8/5/2026: down $0.29, $96.66.

MONDAY'S HOG CALL: Lower. Packers rarely support the cash market on Mondays, and with consumer support shaky, it's unlikely that they'll be overly aggressive at next week's start.