GENERAL COMMENTS:
The livestock complex had another terrific day as consumer support helped both the cattle contracts and the lean hog contracts close higher thanks to continued consumer demand. New showlists appear to be higher in all major feeding states. July corn is down 9 3/4 cents per bushel and July soybean meal is down $8.20. The Dow Jones Industrial Average is up 317.30 points and the NASDAQ is up 294.38 points.
LIVE CATTLE:
The live cattle complex rounded out the day stronger as traders were willing to support the contracts amid continued, strong consumer demand. August live cattle closed $3.10 higher at $215.55, October live cattle closed $2.97 higher at $212.90 and December live cattle closed $2.62 higher at $213.25. With the market regressing last week, traders are no longer up against immediate resistance pressure. However, it's likely that traders will remain cautious of being too supportive early this week until they see how fed cash cattle prices fair. It's too early in the week for any bids or asking prices to have surfaced. New showlists appear to be higher in all major feeding states. Monday's slaughter is estimated at 103,000 head, 9,000 head less than a week ago and 12,000 head less than a year ago.
Last week Southern live cattle traded at mostly $235, which is $4.00 to $5.00 higher than the previous week's weighted average. Northern dressed cattle traded at mostly $380, which is steady with the previous week's weighted average. Last week's negotiated cash cattle trade totaled 51,944 head. Of that, 75% (39,007 head) were committed to the market's nearby delivery, while the remaining 25% (12,937 head) were committed to the deferred delivery option.
Boxed beef prices closed higher: choice up $4.23 ($382.11) and select up $3.97 ($367.47) with a movement of 80 loads (38.18 loads of choice, 16.48 loads of select, 11.13 loads of trim and 14.54 loads of ground beef).
TUESDAY'S CATTLE CALL: Steady. So long as consumer demand holds steady this week, prices should be able to trade steady to somewhat higher.
FEEDER CATTLE:
Everywhere the feeder cattle complex looked it had support, so electing to push the contracts higher through the day's end was an easy decision for the feeder cattle market. August feeders closed $3.80 higher at $310.22, September feeders closed $3.97 higher at $309.57 and October feeders closed $4.02 higher at $307.37. Starting tomorrow morning, Superior Livestock Auction is set to host their first big video auction of the season, as they're scheduled to sell just over 104,000 head in two days. The sale will be widely viewed as cattlemen want to get an idea of what feeder cattle prices this fall could be, and what bred cow prices could be. At Joplin Regional Stockyards in Carthage, Missouri, at their midsession point and when compared to last week, steers were trading at $5.00 higher to $10.00 lower, but feeder heifers were selling steady to $5.00 lower. Feeder cattle supply over 600 pounds was 60%. The CME feeder cattle index 6/13/2025: down $3.21, $313.89.
LEAN HOGS:
The week may have just gotten started, but the lean hog complex didn't miss out on an opportunity to launch higher as its contracts rallied aggressively throughout the day's close. July lean hogs closed $2.32 higher at $111.80, August lean hogs closed $2.55 higher at $112.67 and October lean hogs closed $1.97 higher at $96.17. With the $3.82 jump in the belly and the $3.50 jump in the butt, the carcass prices didn't struggle to close higher this afternoon. Hog prices closed higher on the Daily Direct Afternoon Hog Report, up $1.17 with a weighted average price of $106.12 on 1,192 head. Pork cutouts totaled 236.46 loads, with 210.83 loads of pork cuts and 25.63 loads of trim. Pork cutout values: up $1.42, $119.48. Monday's slaughter is estimated at 478,000 head, 2,000 head less than a week ago and 19,000 head more than a year ago. The CME lean hog index 6/12/2025: up $1.06, $102.81.
TUESDAY'S HOG CALL: Higher. With consumer demand still extremely strong, it's likely that packer demand will be strong as well.
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