GENERAL COMMENTS:
The livestock complex is having a fruitful day, as all three of the markets are trading higher at midday Tuesday. Still no cash cattle trade has developed, and it won't likely until later in the week. December corn is down 3 1/4 cents per bushel and December soybean meal is up $3.90. The Dow Jones Industrial Average is up 5.16 points and the NASDAQ is up 54.37 points.
LIVE CATTLE:
The worry and concern that plagued Monday's market regarding the case where a traveler who was traveling abroad tested positive for New World screwworm in Maryland no longer seems to be at the forefront of the market's mind anymore. October live cattle are up $1.32 at $238.20, December live cattle are up $1.82 at $239.87 and February live cattle are up $1.82 at $241.20. Currently, the spot October contract is trading at a new contract high as traders seem to be pressing onward aggressively and are encouraged to see boxed beef prices up as much as they are. Still no cash cattle trade has developed, but asking prices are noted in the South at $243, and remain unestablished in the North.
Boxed beef prices are higher: choice up $6.48 ($414.97) and select up $6.84 ($392.22) with a movement of 57 loads (35.30 loads of choice, 12.68 loads of select, zero loads of trim and 8.86 loads of ground beef).
FEEDER CATTLE:
The feeder cattle complex is trading throughout the day with vengeance as the market gapped higher this morning and hasn't looked back since. September feeders are up $3.35 at $365.25, October feeders are up $3.05 at $363.80 and November feeders are up $3.07 at $362.00. And with the notable gain seen yesterday in feeder cattle sales across the country, the fundamental support is there for traders to make this kind of move.
LEAN HOGS:
Although morning pork cutout values are a tick lower, the lean hog complex is challenging the market's resistance in the spot October contract, as currently, trader support is more than ample. October lean hogs are up $1.50 at $92.90, December lean hogs are up $1.00 at $85.75 and February lean hogs are up $0.65 at $88.15. There's a chance that with morning pork cutout values lower than traders could become weary at any point in time, but at this moment, support and stronger trends seem to be the market's trajectory.
The projected lean hog index for 8/25/2025 is down $0.41 at $106.86 and the actual index for 8/22/2025 is down $0.57 at $107.27. Hog prices are higher on the Daily Direct Morning Hog Report, up $2.39 with a weighted average price of $109.06, ranging from $103.00 to $110.00 on 3,014 head and a five-day rolling average of $108.71. Pork cutouts total 175.23 loads with 137.73 loads of pork cuts and 37.50 loads of trim. Pork cutout values: down $0.22, $113.95.
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