It ended up being a positive day for the livestock complex as all three of the markets closed higher Monday. New showlists appear to be mixed, higher in Kansas and Nebraska/Colorado, but somewhat lower in Texas. September corn is down 2 1/2 cents per bushel and August soybean meal is up $6.30. The Dow Jones Industrial Average is up 585.06 points and NASDAQ is up 403.45 points.
LIVE CATTLE:
The live cattle complex traded back and forth throughout Monday, appearing unsure about its direction as traders weigh the pros and cons of trading the market higher or lower. But to cattlemens' favor, the live cattle complex closed higher by Monday's end -- although the gains were minimal. August live cattle closed $0.77 higher at $230.90, October live cattle closed $0.42 higher at $224.10, and December live cattle closed $0.57 higher at $225.00. More than anything, traders seemed willing to allow the contracts to chop sideways throughout the day but weren't willing to extend themselves and welcome any more vulnerability. New showlists appear to be mixed, higher in Kansas and Nebraska/Colorado, but somewhat lower in Texas. Monday's slaughter is estimated at 101,000 head -- 7,000 head less than a week ago and 15,000 head less than a year ago.
Last week Northern dressed cattle traded at mostly $383, which is $3.00 higher than the previous week's weighted average, and Southern live cattle traded at mostly $235 to $236, which is $2.00 to $4.00 higher than the previous week's weighted average. Last week's negotiated cash cattle trade totaled 69,534 head. Of which 86% (59,569 head) were committed to the market's nearby delivery while the remaining 14% (9,965 head) were committed to the market's deferred delivery.
Boxed beef prices closed higher: choice up $1.10 ($364.32) and select up $1.09 ($341.59) with a movement of 109 loads (55.69 loads of choice, 24.87 loads of select, 17.93 loads of trim and 10.99 loads of ground beef).
TUESDAY'S CATTLE CALL: Steady. Packers were able to get a sizeable volume of cattle committed to nearby delivery, which could mean cash prices are going to hold steady this week.
FEEDER CATTLE:
Like the live cattle complex, feeder cattle contracts traded back and forth throughout Monday, unsure about which way the market should truly lean. But thankfully, ahead of Monday's close, the market did indeed muster up enough support to close higher with the deferred months again seeing the biggest day-over-day gains. August feeder cattle closed $0.82 higher at $335.40, September feeders closed $0.52 higher at $334.45, and October feeders closed $0.55 higher at $332.40. At Joplin Regional Stockyards in Carthage, Missouri, compared to last week and at their midsession point, feeder steers under 500 pounds were selling steady to $6.00 lower but feeders over 500 pounds were selling $4.00 to $10.00 higher. Feeder heifers were trading anywhere from $4.00 lower to $10.00 higher. Feeder cattle supply over 600 pounds was 75%. The CME Feeder Cattle Index 8/1/2025: not available at this time.
LEAN HOGS:
With the help of slightly better pork demand and continued interest from traders, the lean hog complex was able to round out Monday higher. It will be interesting to see what traders do with the market Tuesday as resistance pressures are looming. But if pork demand remains strong there's a chance traders could elect to move the market past the resistance pressure around $91.00 in the spot October contract. August lean hogs closed $0.82 higher at $108.17, October lean hogs closed $0.85 higher at $90.90, and December lean hogs closed $1.10 higher at $83.45. Hog prices remained unavailable throughout the day because of confidentiality on the Daily Direct Afternoon Hog Report, but we were able to see at least that only 320 head traded and the market's five-day rolling average now sits at $112.61. Pork cutouts totaled 243.93 loads with 218.56 loads of pork cuts and 25.37 loads of trim. Pork cutout values: up $0.85, $117.79. Monday's slaughter is estimated at 425,000 head -- 17,000 head less than a week ago and 16,000 head more than a year ago. The CME Lean Hog Index 7/31/2025: down $0.11, $110.26.
TUESDAY'S HOG CALL: Higher. With pork demand improving, there's a chance packers could be more aggressive.
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