GENERAL COMMENTS:
The livestock complex is trading mixed into Tuesday's noon hour as traders are pleased to continue to support the cattle contracts, but without better fundamental support, the lean hog contracts are trading lower. Asking prices are noted in the South at $235 plus. September corn is down 5 1/2 cents per bushel and August soybean meal is down $1.80. The Dow Jones Industrial Average is down 200.38 points and the NASDAQ is down 50.77 points.
LIVE CATTLE:
Although traders were cautious at the day's initial start, the live cattle complex is back to trading higher after shaking the morning's initial jitters. August live cattle are up $0.57 at $228.45, October live cattle are up $0.42 at $225.20 and December live cattle are up $0.52 at $225.87. Today's slight uptick, although it still is less than a dollar's advancement, is enough of a push to lead many of the nearby contracts to new contract highs yet again. No business has developed yet in the fed cash cattle market, and it isn't expected to any time soon, as feedlot managers and packers are likely to go round again this week as both parties want starkly different outcomes for the market. Asking prices are noted in the South at $235 plus, but are still not established yet in the North.
Boxed beef prices are lower: choice down $0.88 ($366.85) and select down $4.33 ($342.52) with a movement of 61 loads (32.65 loads of choice, 9.12 loads of select, 12.10 loads of trim and 7.58 loads of ground beef).
FEEDER CATTLE:
Per the norm here lately, the feeder cattle complex is again rocking and rolling into the day's noon hour as the sky truly remains the limit for the feeder cattle complex right now. August feeders are up $1.92 at $335.45, September feeders are up $1.50 at $336.05 and October feeders are up $1.55 at $334.90. Like the live cattle complex, today's advance scores new all-time highs in most of the nearby contracts once again. And regarding demand in the countryside, buyers remain so active in the market that Monday's CME feeder cattle index closed at $329.93.
LEAN HOGS:
With cash prices and pork cutouts values lower, it doesn't surprise many that the lean hog complex is trading lower. The weakness in the market's fundamentals, mixed with the continued pressure being seen in the futures complex, has gravely affected the complex today as the contracts are all trading $1.00 to $2.00 lower. August lean hogs are down $1.10 at $107.42, October lean hogs are down $2.22 at $88.65 and December lean hogs are down $2.12 at $80.77. It's highly unlikely that the market's direction will improve ahead of today's close.
The projected lean hog index for 7/28/2025 is up $0.13 at $110.45 and the actual index for 7/25/2025 is up $0.04 at $110.32. Hog prices are lower on the Daily Direct Morning Hog Report, down $3.48 with a weighted average price of $105.54, ranging from $104.00 to $110.00 on 759 head and a five-day rolling average of $113.05. Pork cutouts totaled 154.93 loads with 138.76 loads of pork cuts and 16.17 loads of trim. Pork cutout values: down $0.79, $117.50.
No comments:
Post a Comment