GENERAL COMMENTS:
The livestock complex is off to a fruitful start Monday as the market is pleased to see strong consumer demand early this week. New showlists appear to be higher in all major feeding states. July corn is down 11 1/4 cents per bushel and July soybean meal is down $7.50. The Dow Jones Industrial Average is up 368.89 points and NASDAQ is up 285.31 points.
LIVE CATTLE:
After feeling immensely pressured from a technical standpoint last Friday, the live cattle complex is beginning to regain some ground early this week as most of the nearby contracts are trading $2.00 to $3.00 higher. August live cattle are up $3.10 at $215.55, October live cattle are up $2.82 at $212.75 and December live cattle are up $2.55 at $213.17. Like last week, it's unlikely any cash cattle trade will develop until Wednesday at the absolute earliest. But seeing boxed beef prices higher Monday morning does keep bull-spreaders hopeful the market's fundamentals will remain supportive this week. Do note that on Friday of this week the monthly Cattle on Feed report will be released. New showlists appear to be higher in all major feeding states.
Last week Southern live cattle traded at mostly $235, which is $4.00 to $5.00 higher than the previous week's weighted average, and Northern dressed cattle traded at mostly $380, which is steady with the previous week's weighted average.
Boxed beef prices are higher: choice up $2.03 ($379.91) and select up $2.67 ($366.17) with a movement of 47 loads (21.56 loads of choice, 10.25 loads of select, 5.46 loads of trim and 9.49 loads of ground beef).
FEEDER CATTLE:
With the help of continued fundamental support and active trade Monday morning in the live cattle complex, feeder cattle contracts are confidently higher as the market has more than enough support to justify higher trade. August feeders are up $3.60 at $310.10, September feeders are up $3.75 at $309.35 and October feeders are up $3.87 at $307.22. Starting Tuesday, June 17, Superior Livestock Auction will be hosting their first online sale for the season, the Corn Belt Classic, in Sioux City, Nebraska. The sale is cataloged to offer 104,011 head and it will be a great opportunity to see what feeder cattle prices are expected to be later this fall.
LEAN HOGS:
The lean hog complex is rocking and rolling Monday morning as the market is trading at new contract highs yet again as traders continue to be pleased with the consumer support they're receiving. July lean hogs are up $1.97 at $111.45, August lean hogs are up $1.67 at $111.80 and October lean hogs are up $1.50 at $95.70. Monday morning the big $3.00 gain in the picnic is helping push the carcass price higher more than anything.
The projected CME Lean Hog Index for 6/13/2025 is up $0.89 at $103.70 and the actual index for 6/12/2025 is up $1.05 at $102.81. Hog prices are higher on the Daily Direct Morning Hog Report, up $2.51 with a weighted average price of $106.56, ranging from $100.00 to $110.00 on 512 head and a five-day rolling average of $105.99. Pork cutouts total 114.31 loads with 102.65 loads of pork cuts and 11.66 loads of trim. Pork cutout values: up $0.87, $118.93.
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