It was a positive day for the livestock complex as all three of the markets closed higher. But it was especially profound for the cattle complex as many of the nearby live cattle and feeder cattle contracts scored new contract highs. September corn is down 4 3/4 cents per bushel and August soybean meal is down $3.50. The Dow Jones Industrial Average is down 19.12 points and the NASDAQ is up 78.51 points.
LIVE CATTLE:Traders weren't shy to advance the market throughout Monday's trade as all of the live cattle contracts closed over $1.00 higher, and many of the nearby contracts scored new contract highs. More than anything, today's push seems to be an acknowledgement from traders that they realize how strong the market's fundamental position is. Even so, it will be imperative that support arises later this week to reassure them that the move was justified. August live cattle closed $1.67 higher at $225.22, October live cattle closed $1.80 higher at $221.62 and December live cattle closed $1.95 higher at $221.75. New showlists appear to be lower in all major feeding areas. Monday's slaughter is estimated at 105,000 head, 7,000 head less than a week ago and 8,000 head less than a year ago.
Last week, Southern live cattle traded at $228 to $240, but mostly at $230, which is steady to $1.00 higher than the previous week's weighted average, and Northern dressed cattle traded at $373 to $382, but mostly at $380, which is $1.00 higher than the previous week's weighted average. Last week's negotiated cash cattle trade totaled 60,389 head. Of that 68% (41,260 head) were committed to the nearby delivery, but the remaining 32% (19,129 head) were committed to the market's deferred delivery option.
Boxed beef prices closed lower: choice down $1.48 (372.07) and select down $1.44 ($350.05) with a movement of 75 loads (36.10 loads of choice, 21.56 loads of select, zero loads of trim and 17.55 loads of ground beef).
TUESDAY'S CATTLE CALL: Steady. Packers were able to get some cattle bought last week and committed to the deferred delivery option, but they'll still need to participate this week in the cash market to avoid being short bought.
FEEDER CATTLE:It was a glorious day for the feeder cattle contracts as a lofty $3.00 advancement seemed like an easy "walk in the park" for the contracts. August feeder cattle closed $3.60 higher at $327.60, September feeders closed $3.50 higher at $327.70 and October feeders closed $3.67 higher at $325.97. Northern Livestock Auction is hosting a big video special this week, and the board's strong uptick at the week's start is likely to help those producers selling cattle both there and in sale barns across the country. At Joplin Regional Stockyards in Carthage, Missouri compared to last week feeder steers sold $2.00 to $10.00 higher and feeder heifers traded steady to $3.00 higher. Feeder cattle supply over 600 pounds was 73%. The CME feeder cattle index 7/18/2025: up $3.52, $325.80.
LEAN HOGS:The lean hog complex rounded out the day on a stronger note, even though the complex was torn earlier in the day on which way the market's direction should be. But with the continued support from consumers, which has helped improve the carcass price, traders fixated their attention on the market's fundamental note and pushed the contracts higher. August lean hogs closed $0.87 higher at $107.35, October lean hogs closed $0.35 higher at $90.97 and December lean hogs closed $0.10 higher at $82.90. Hog prices closed higher on the Daily Direct Afternoon Hog Report, up $4.92 with a weighted average price of $110.47 on 2,464 head. Pork cutouts totaled 252.48 loads with 230.63 loads of pork cuts and 21.85 loads of trim. Pork cutout values: up $1.73, $119.52. Monday's slaughter is estimated at 458,000 head, 9,000 head less than a week ago and 4,000 head more than a year ago. The CME lean hog index 7/17/2025: up $0.30, $107.93.
TUESDAY'S HOG CALL: Steady/somewhat higher. The market advanced noticeably on Monday, so it's hard to say that packers will aggressively push prices higher on Tuesday. However, they will need more supply, so prices will likely trade at least steady if not higher.
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