GENERAL COMMENTS:
The livestock contracts are all trading higher into Tuesday's noon hour as traders have shaken off their concerns regarding overly supporting the cattle contracts and are back to advancing the marketplace. Asking prices in the South are noted at $238 to $240. September corn is down 5 cents per bushel and August soybean meal is up $0.40. The Dow Jones Industrial Average is down 42.39 points and the NASDAQ is down 77.23 points.
LIVE CATTLE:
The live cattle complex is off to a sporty rally this morning as traders seem to be more confident in the market's fundamental footing than they were on Monday. August live cattle are up $3.92 at $234.82, October live cattle are up $3.62 at $227.70 and December live cattle are up $3.57 at $228.57. There are a few asking prices now noted in the South at $238 to $240, but the North continues to remain quiet. It's unlikely that any cash cattle trade will develop until Thursday or Friday. The market still has some upward room to trade as the resistance plane sits at $230.
Boxed beef prices are unavailable because of packer submission issues.
FEEDER CATTLE:
The feeder cattle complex is off to an aggressive rally for the day as all of the contracts are trading $5.00 higher. August feeders are up $5.32 at $340.72, September feeders are up $5.30 at $339.75 and October feeders are up $5.35 at $337.70. More than anything, it seems as though traders have shaken the jitters they possessed on Monday and are now back to believing in the market's robust fundamental position. Feeder cattle demand in the countryside hasn't wavered whatsoever, and doesn't seem to care what the board is doing, as buyers know that supplies are thin and that that isn't going to change any time soon
LEAN HOGS:
The lean hog complex is continuing to trade higher into Tuesday's noon hour as traders have found enough support in the marketplace to blow past the market's previous resistance at $91.00. August lean hogs are up $0.70 at $108.87, October lean hogs are up $1.87 at $92.77 and December lean hogs are up $1.27 at $84.72. It's difficult to say where traders are getting this extra momentum from, as we can't see what pork demand is doing because of packers' failure to submit data this morning, but the slight improvement in the cash market is surely helping.
The projected lean hog index for 8/2/2025 is down $0.43 at $109.56, and the actual index for 8/1/2025 is down $0.27 at $109.99. Hog prices on the Daily Direct Morning Hog Report average $110.98, ranging from $105.00 to $113.50 on 2,515 head and a five-day rolling average of $112.95. Pork cutout values are unavailable because of packer submission issues.
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