GENERAL COMMENTS:
It's been a wild start to the week for the cattle complex as traders have reacted negatively to the news that a positive case of New World screwworm was detected in a human who was traveling from abroad into Maryland over the weekend. The contracts opened sharply lower but have since settled down a bit. December corn is up 2 cents per bushel and December soybean meal is up $0.50. The Dow Jones Industrial Average is down 230.58 points and the NASDAQ is up 61.26 points.
LIVE CATTLE:
It's been a tumultuous morning for the cattle complex as news broke over the weekend from the CDC that a person traveling abroad in Maryland was infected with New World screwworm. The news obviously affected the cattle complex dramatically as strict measures have been taken with cattle imports to avoid the spread into the U.S., but thinking that it would be carried into the US through a human wasn't on most people's radar. October live cattle are down $0.95 at $236.95, December live cattle closed $1.05 lower at $238.10 and February live cattle closed $0.75 lower at $239.45. And although the news regarding the positive case of New World screwworm has most affected the marketplace, it hasn't helped matters either that the market received a neutral to somewhat bearish Cattle on Feed report last week, as most analysts thought placements would be lighter than what they were. New showlists appear to be lower in all major feeding areas.
Last week Northern dressed cattle traded at mostly $385, which is $2.00 higher than the previous week's weighted average. Southern live cattle traded at mostly $240, which is $5.00 higher than the previous week's weighted average.
Boxed beef prices are higher: choice up $0.62 ($408.53) and select up $1.89 ($385.55) with a movement of 32 loads (17.68 loads of choice, 3.99 loads of select, 3.88 loads of trim and 6.04 loads of ground beef).
FEEDER CATTLE:
The feeder cattle complex is trading lower as traders are uncertain what to do with the complex following the CDC's announcement. September feeders are down $0.90 at $361.77, October feeders are down $2.12 at $360.37 and November feeders are down $2.27 at $358.57. The contracts were trading close to their limit lower this morning, but have since recovered some position and are now only trading mildly lower.
LEAN HOGS:
The lean hog complex is having a prosperous morning as the contracts are trading fully higher. October lean hogs are up $0.35 at $91.55, December lean hogs are up $0.42 at $84.80 and February lean hogs are up $0.45 at $87.57. It was helpful to see pork cutout values were stronger again this morning – but that's mainly because of the continued aggressive rally in the picnic, which is up $8.75.
The projected lean hog index for 8/22/2025 is down $0.57 at $107.27, and the actual index for 8/21/2025 is down $0.48 at $107.84. Hog prices are lower on the Daily Direct Morning Hog Report, down $1.22 with a weighted average price of $106.67, ranging from $100.00 to $111.00 on 927 head and a five-day rolling average of $109.28. Pork cutouts total 167.13 loads with 153.23 loads of pork cuts and 13.90 loads of trim. Pork cutout values: up $2.64, $115.53.
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