Throughout Wednesday's trade, the cattle contracts have traded boldly as new contract highs are seeming to be the norm for the day. No cash cattle trade has developed yet, but asking prices are now noted in the South at $322. September corn is down 1 cent per bushel and August soybean meal is up $0.10. The Dow Jones Industrial Average is up 356.01 points and NASDAQ is up 32.95 points.
LIVE CATTLE:It's another rip-roaring, rallying day for the live cattle complex as the contracts are etching into new territory yet again today. August live cattle are up $1.37 at $226.35, October live cattle are up $1.62 at $222.75 and December live cattle are up $1.55 at $223.20. It could potentially be that traders are excited to hear about the trade deal that President Trump worked out with Japan, as it will obviously open up more opportunities for more beef to be marketed. Still today, no cash cattle trade has developed, but asking prices are now noted in the South at $232 but remain unestablished still in the North.
Boxed beef prices are mixed: choice down $3.07 ($369.43) and select up $0.11 ($348.05) with a movement of 98 loads (74.10 loads of choice, 13.30 loads of select, zero loads of trim and 10.83 loads of ground beef).
FEEDER CATTLE:Up, up and away runs the feeder cattle complex as the market is seeing its contracts trade anywhere from $1.00 to $3.00 higher into Wednesday's noon hour. Again, today it's interesting to note that the biggest day over day advancement is currently being seen on the deferred contracts, which are the months trading up to $3.60 higher. More than anything, it seems as though traders are not only recognizing the fact that supplies are going to remain tight, but that they're also adjusting their position from a technical standpoint because of it. August feeders are up $1.87 at $330.17, September feeders are up $1.77 at $330.35 and October feeders are up $2.20 at $329.07.
LEAN HOGS:The cattle contracts may be rallying but the lean hog complex is again trading lower as traders remain stalemate in their hopes to advance the complex. This morning, pork demand is higher so traders can't point to disappointing market fundamentals. It seems as though traders are running into some resistance pressure, which is hindering the contracts from trading any higher. August lean hogs are down $0.30 at $107.45, October lean hogs are down $0.62 at $89.87 and December lean hogs are down $0.92 at $81.92.
The projected lean hog index for 7/22/2025 is up $0.64 at $109.23, and the actual index for 7/21/2025 is up $0.39 at $108.59. Hog prices are higher on the Daily Direct Morning Hog Report, up $0.78 with a weighted average price of $114.77, ranging from $104.50 to $118.50 on 6,746 head and a five-day rolling average of $112.94. Pork cutouts total 159.15 loads with 145.21 loads of pork cuts and 13.93 loads of trim. Pork cutout values: up $0.01, $118.16.
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