GENERAL COMMENTS:
The livestock complex is being met with ample support as all three markets are trading higher into Monday's noon hour. New showlists appear to be mixed, higher in Kansas, Nebraska/Colorado, but lower in Texas. July corn is down 2 3/4 cents per bushel and July soybean meal is down $1.50. The Dow Jones Industrial Average is down 198.33 points and the NASDAQ is up 42.22 points.
LIVE CATTLE:
Following the exciting nature of last week's trade, the live cattle complex is continuing to trade higher and is mainly being fueled by the strong fundamental footing the market possesses. June live cattle are up $0.90 at $216.37, August live cattle are up $1.42 at $210.77 and October live cattle are up $1.35 at $208.75. Although the contracts are trading higher, traders are still keeping the market within its comfortable sideways trading range, as it's likely that they'll want to see what surfaces this week regarding fundamental support, specifically in the form of beef demand, fed cash cattle prices, and to a lesser degree, throughput levels. No bids or asking prices have been noted yet for the fed cash cattle market. New showlists appear to be mixed, higher in Kansas, Nebraska/Colorado, but lower in Texas.
Last week Southern live cattle traded at mostly $221 to $223 which is $2.00 to $3.00 higher than the previous week's weighted average. Northern dressed cattle traded at mostly $370 which is $8.00 higher than the previous week's weighted average.
Boxed beef prices are mixed: choice down $0.20 ($366.14) and select up $0.80 ($357.45) with a movement of 68 loads (39.32 loads of choice, 5.91 loads of select, 7.56 loads of trim and 14.80 loads of ground beef).
FEEDER CATTLE:
The feeder cattle complex is now pushing on the upper end of its current sideways trading range as the market is elated to see extra support from traders and from the market's strong fundamental support in terms of higher fed cash cattle prices and strong beef demand. August feeders are up $2.97 at $301.80, September feeders are up $3.00 at $300.70 and October feeders are up $2.97 at $298.67. The spot August feeder cattle contract is currently trading around $301 and is only a couple of dollars away from the market's recent top at $305.
LEAN HOGS:
It's rather impressive to see the lean hog complex trading higher again today as last Friday the market broke substantially higher, but yet again this week traders are advancing the contracts higher once again. July lean hogs are up $0.05 at $104.97, August lean hogs are up $0.80 at $105.80 and October lean hogs are up $0.47 at $89.40. Pork demand was a strong influence on last week's higher trend, which will be important for the market to receive again this week if traders are to keep up with their higher climb.
The projected lean hog index for 5/30/2025 is up $1.06 at $95.90, and the actual index for 5/29/2025 is up $0.71 at $94.84. Hog prices are unavailable on the Daily Direct Morning Hog Report because as of currently, there haven't been any hogs traded. Pork cutouts total 174.03 loads, with 149.95 loads of pork cuts and 24.08 loads of trim. Pork cutout values: down $0.01, $107.21.
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