Thursday Closing Livestock Market Update - Traders Remain Hopeful the Cash Cattle Market Will at Least Trade Steady

GENERAL COMMENTS:

The livestock complex ended Thursday higher thanks to continued trader support. Still no cash cattle trade has developed, but traders remain hopeful feedlot managers will be able to at least hold the market steady. December corn is down 2 3/4 cents per bushel and December soybean meal is down $4.70. The Dow Jones Industrial Average is up 556.21 points and the NASDAQ is up 20.16 points.

LIVE CATTLE:

Traders continue to hold onto the hope that this week's fed cash cattle market could trade higher, which is the optimism that helped drive the contracts higher through Thursday's trade. October live cattle closed $2.05 higher at $225.95, December live cattle closed $2.12 higher at $227.25 and February live cattle closed $2.20 higher at $229.62. Bids developed in both regions throughout the day in the fed cash cattle market, but as feedlot managers hope to get more money out of their cattle this week, they mostly decided to let those bids sit untouched throughout Thursday's trade. Bids of $226 were offered in Kansas, and live bids of $218 to $222 were offered in Nebraska, but no cattle traded. Asking prices are firm in Texas at $226 but are unestablished in the rest of the feeding region. 

Thursday's slaughter is estimated at 104,000 head -- 5,000 head less than a week ago and 13,000 head less than a year ago.

Boxed beef prices closed lower: choice down $2.52 ($373.98) and select down $5.85 ($352.62) with a movement of 101 loads (72.47 loads of choice, 12.71 loads of select, 7.43 loads of trim and 8.87 loads of ground beef).

FRIDAY'S CATTLE CALL: Steady/somewhat higher. Given that the board is optimistic and that feedlot managers seem comfortable waiting the week out in hopes of higher prices, there's a chance that cattle could trade higher this week if not at least steady.

FEEDER CATTLE:

And with the support of traders, the live cattle complex and the bullish undertone that is alive and well in the cattle sector, the feeder cattle contracts were able to round out the day higher as well. October feeders closed $2.42 higher at $343.37, November feeders closed $3.50 higher at $341.95 and January feeders closed $4.30 higher at $337.90. At the La Junta Livestock Commission in La Junta, Colorado, compared to last week, feeder steers under 600 pounds sold sharply lower, but feeder steers over 600 pounds sold sharply higher. Feeder heifers sold sharply higher across all weight groups. Feeder cattle supply over 600 pounds was 22%. The CME feeder cattle index 10/14/2026: up $1.22, $342.64.

LEAN HOGS:

Thanks to some minor technical support, even the lean hog contracts were able to end the day stronger by Thursday's close. December lean hogs closed $0.50 higher at $66.57, February lean hogs closed $0.60 higher at $68.45 and April lean hogs closed $0.37 higher at $73.42. Unfortunately, pork demand didn't show any improvement throughout the day, so Friday's success will likely be limited. Hog prices closed higher on the Daily Direct Afternoon Hog Report, up $2.56 with a weighted average price of $71.70 on 790 head. Pork cutouts totaled 273.77 loads, with 236.70 loads of pork cuts and 37.07 loads of trim. Pork cutout values: down $1.90, $77.55. Pork cutouts totaled 273.77 loads, with 236.70 loads of pork cuts and 37.07 loads of trim. Pork cutout values: down $1.90, $77.55. Thursday's slaughter is estimated at 498,000 head -- 5,000 head more than a week ago and 8,000 head more than a year ago. The CME lean hog index 10/13/2026: down $0.19, $75.75.

FRIDAY'S HOG CALL: Lower. At this point, packers have likely filled most of their need already from the cash market.

Thursday Midday Livestock Market Summary - Bids of $226 Surface in Kansas

GENERAL COMMENTS:

The livestock complex is trading mixed into Thursday's noon hour, with the cattle contracts seeing greater trader support and only half of the lean hog contracts are trading higher into the afternoon. Bids of $226 have surfaced in Kansas, but no trade has developed yet. December corn is down 3/4 cent per bushel and December soybean meal is down $2.20. The Dow Jones Industrial Average is up 450.03 points and the NASDAQ is down 146.90 points.

LIVE CATTLE:

Some technical optimism has resurfaced in the live cattle complex as the market is trading well above $1 higher into Thursday's noon hour. More than anything, traders seem optimistic that there may be a chance that this week's fed cash cattle market may be able to trade steady, if not a tick higher -- time will tell. October live cattle are up $1.70 at $225.60, December live cattle are up $1.65 at $226.72 and February live cattle are up $1.47 at $228.85. Bids have surfaced in Kansas at $226, but otherwise, the fed cash cattle market remains quiet at this point in time. With the board trading higher, it's likely that feedlot managers will wait another day before they trade cattle in hopes of seeing prices trade stronger again this week. Asking prices are noted at $230 in Texas, but are not established in the other feeding regions.

Boxed beef prices are lower: choice down $0.78 ($375.72) and select down $3.63 ($354.84) with a movement of 69 loads (49.89 loads of choice, 6.61 loads of select, 7.38 loads of trim and 4.96 load of ground beef).

FEEDER CATTLE:

After seeing the live cattle contracts turn higher, the feeder cattle complex couldn't miss out on an opportunity to trade higher itself. Currently, the feeder cattle contracts are trading anywhere from $1 to $3 higher into Thursday's noon hour. As long as the live cattle contracts continue to trade higher, it's likely that the feeder cattle contracts will too. October feeders are up $1.15 at $342.10, November feeders are up $2.07 at $340.52 and January feeders are up $2.72 at $336.32.

LEAN HOGS:

The lean hog contracts are trading mixed into Thursday's noon hour, with the nearby contracts currently trading slightly higher while the deferred contracts continue to trade a tick lower. Pork cutout values are lower again, which continues to be the market's biggest hinderance. December lean hogs are up $0.17 at $66.25, February lean hogs are up $0.17 at $68.02 and April lean hogs are up $0.05 at $73.10. The projected lean hog index for 10/14/2026 is down $0.66 at $75.09, and the actual index for 10/13/2026 is down $0.19 at $75.75. Hog prices are higher on the Daily Direct Morning Hog Report, up $2.61 with a weighted average price of $71.66, ranging from $62.00 to $78.00 on 625 head and a five-day rolling average of $79.89. Pork cutouts total 137.93 loads with 126.96 loads of pork cuts and 10.97 loads of trim. Pork cutout values: down $0.72, $78.73. 

Thursday Morning Livestock Market Update - Cash Cattle Still Quiet

GENERAL COMMENTS:

Live cattle fell 67.5 cents Wednesday on the October contract and $1.225 lower on the November. Cash trade did not amount to much, only one load at $226 in the South. Everyone seems to be holding out for the end of the week. Feeder cattle futures also fell Wednesday, trading $2.125 to $2.575 lower. Beef cutout prices were higher Wednesday afternoon. Choice increased $1.35 while select increased $4.80.

Hog futures traded $1.95 lower on Wednesday with pork cutouts lower, lean hog index lower and the lack of pork demand. The weekly estimated average weights of barrows and gilts came in at an average weight of 290.7 pounds, 0.5 pounds lighter than the previous week and 0.3 pounds lighter than one year ago. Pork cutout values fell $1.23 to $79.45.

	BULL SIDE		BEAR SIDE
1)	Packer margins are seeing their eighth week in a row of positive margins.	1)	Live cattle futures as well as feeder cattle futures are seeing resistance near the 100-day and the 200-day moving average. It will be difficult to surpass.
2)	The longer cash trade remains quiet, the more likely that it will eventually catch up to packers and force them to step back into the market.	2)	The news cycle has been some of the toughest hurdles to overcome for the beef market. It has been a while since we have had a new headline attempting to reduce prices.
3)	Grocery stores are beginning to push pork sales and specials, which should spark some consumer demand.	3)	Pork cutout values continue to fall, placing pressure on futures.
4)	Hog numbers are reduced slightly versus this time last year.	4)	Managed money is still near record short for lean hog futures. It will be difficult to rally until they lift more positions.

Wednesday Closing Livestock Market Update - Weak Fundamental Support Keeps Contracts Trading Lower

GENERAL COMMENTS:

It was another lackadaisical day for the livestock complex as traders had no real other viable option but to let the contracts drift lower as fundamental support remains sparse. No cash cattle trade developed throughout the day. December corn is down 2 cents per bushel and December soybean meal is up $1.30. The Dow Jones Industrial Average is down 48.62 points and the NASDAQ is down 511.51 points.

LIVE CATTLE:

Another day came and went and still traders haven't seen the support they desire to see surface yet in the fed cash cattle market. More than anything traders are merely holding the live cattle contracts steady, trying to wait and see if feedlot managers are going to be able to hold this week's market steady. Asking prices are noted at $230 in Texas, but otherwise the market has been extremely quiet with no other developments having been made just yet. October live cattle closed $0.72 lower at $223.90, December live cattle closed $1.25 lower at $225.12 and February live cattle closed $1.15 lower at $227.42. 

Wednesday's slaughter is estimated at 110,000 head -- 1,000 head less than a week ago and 10,000 head less than a year ago.

Boxed beef prices closed higher: choice up $1.35 ($376.50) and select up $4.80 ($358.47) with a movement of 107 loads (60.28 loads of choice, 13.15 loads of select, 7.68 loads of trim and 25.48 loads of ground beef).

THURSDAY'S CATTLE CALL: Steady. It's going to be interesting to see where prices land this week because on one hand you could argue that prices could trade higher as packers have been more aggressive in recent weeks and do slightly seem short bought. But on the other hand because they have been aggressive they sit on more inventory than they did just a week ago which could alleviate some of their need to give aggressively into the market.

FEEDER CATTLE:

And as to be expected, the feeder cattle contracts ended the day lower without seeing support arise from either the fed cash cattle market or the live cattle contracts. October feeders closed $2.12 lower at $340.95, November feeders closed $2.57 lower at $338.45 and January feeders closed $2.25 lower at $333.60. At Beaver Livestock Auction in Beaver, Oklahoma compared to last week feeder steers over 700 pounds sold steady to $2.00 higher, steers weighing 600 to 700 pounds sold $20.00 to $25.00 higher. Steer calves traded $2.00 to $4.00 stronger and feeder heifers and heifer calves sold steady to $5.00 stronger. Feeder cattle supply over 600 pounds was 71%. The CME feeder cattle index 10/13/2026: down $0.05, $341.42.

LEAN HOGS:

The lean hog complex again closed lower as traders aren't pleased nor are comfortable with the level of support in which they've seen recently in from consumers in regard to pork demand. And until some fundamental support arises, this lower/weaker trend will likely continue. December lean hogs closed $1.95 lower at $66.07, February lean hogs closed $1.75 lower at $67.85 and April lean hogs closed $1.10 lower at $73.05. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $1.12 with a weighted average price of $69.14 on 3,711 head. Pork cutouts totaled 280.22 load with 243.38 loads of pork cuts and 36.84 loads of trim. Pork cutout values: down $1.23, $79.45. Wednesday's slaughter is estimated at 497,000 head -- 2,000 head more than a week ago and 4,000 head more than a year ago. The CME lean hog index 10/12/2026: down $0.57, $75.94.

THURSDAY'S HOG CALL: Lower. Packers already bought aggressively one day this week and likely secured the vast majority of their needs for the week.