GENERAL COMMENTS:
The livestock complex is trading mixed at the week's start as traders are fully supporting the cattle contracts, but the lean hog complex hasn't been met with as much support or attention. Do note the monthly Cattle on Feed report will be released Friday. New showlists appear to be lower in all major feeding areas. September corn is down 7 1/2 cents per bushel and August soybean meal is down $4.10. The Dow Jones Industrial Average is up 241.63 points and NASDAQ is up 113.17 points.
LIVE CATTLE:
Following last week's softer conclusion, the live cattle complex is again higher as traders remain hopeful that fundamental support will prevail and the market may be able to pressure the existing resistance levels. It seems almost barbaric to even mutter the words, "pressure the existing resistance levels" in today's market given that prices are trading at an all-time high; but at the week's start, traders seem willing to mull over the idea of advancing the complex if indeed the market's support is plentiful. August live cattle are up $0.90 at $224.45, October live cattle are up $1.20 at $221.02, and December live cattle are up $1.37 at $221.17. New showlists appear to be smaller in all major feeding areas.
Last week, Southern live cattle traded from $228 to $240, but mostly at $230, which is steady to $1.00 higher than the previous week's weighted average. Northern dressed cattle traded from $373 to $382 but mostly at $380, which is $1.00 higher than the previous week's weighted average.
Boxed beef prices are mixed: choice down $1.42 ($372.13) and select up $0.04 ($351.53) with a movement of 30 loads (16.56 loads of choice, 7.14 loads of select, zero loads of trim and 6.56 loads of ground beef).
FEEDER CATTLE:
With demand remaining red-hot in the countryside and the live cattle contracts again lending support, the feeder cattle complex hasn't been bashful about advancing thus far through Monday's trade. August feeders are up $1.75 at $325.72, September feeders are up $1.75 at $325.95 and October feeders are up $1.80 at $324.10. Just like the live cattle complex, the feeder cattle market is up against the resistance threshold, and it's going to take a tremendous amount of support to convince traders to move the market much higher.
LEAN HOGS:
The tables have turned for the lean hog complex and although the market was blessed with ample support last week, traders are seeming a little slow to jump back on the band wagon and continue to support the hog contracts early this week. August lean hogs are up $0.57 at $107.05, October lean hogs are down $0.35 at $90.27, and December lean hogs are down $0.37 at $82.42. Pork demand is strong again at the week's start which will likely help encourage traders to support the complex soon.
The projected CME Lean Hog Index for 7/18/2025 is up $0.27 at $108.20, and the actual index for 7/17/2025 is up $0.30 at $107.93. Hog prices are higher on the Daily Direct Morning Hog Report, up $3.47 with a weighted average price of $109.88, ranging from $103.00 to $114.50 on 1,545 head and a five-day rolling average of $110.35. Pork cutouts total 156.33 loads with 143.27 loads of pork cuts and 13.06 loads of trim. Pork cutout values: up $2.05, $119.84.
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