GENERAL COMMENTS:
The livestock complex is trading fully higher into Monday's noon hour as trader support is ample this morning. New showlists appear to be mixed, higher in Kansas, but lower in Texas and Nebraska/Colorado. December corn is down 7 cents per bushel and December soybean meal is down $2.40. The Dow Jones Industrial Average is up 39.44 points and NASDAQ is up 195.11 points.
LIVE CATTLE:
It's been a breath of fresh air to see the live cattle complex trade higher Monday morning as last Friday the market closed just slightly below the 40-day moving average in the spot October contract, which caused some anguish heading into the weekend. Whenever the market closes below a major threshold like that, there's a strong chance traders could deem that a technical reason as to why the contracts should continue to trade lower. But, thankfully, that hasn't been the case as the live cattle contracts are trading mostly $4.00 higher into Monday's noon hour. October live cattle are up $4.22 at $234.20, December live cattle are up $4.05 at $235.97 and February live cattle are up $4.20 at $237.42. New showlists appear to be mixed, higher in Kansas, but lower in Texas and Nebraska/Colorado. Last week Northern dressed cattle traded at mostly $375 to $378, which is $5.00 to $8.00 lower than the previous week's weighted average, and Southern live cattle traded at mostly $238 to $240, which is $2.00 to $4.00 lower than the previous week's weighted average.
Boxed beef prices are higher: choice up $1.85 ($401.89) and select up $0.15 ($378.59) with a movement of 41 loads (30.74 loads of choice, 4.63 loads of select, zero loads of trim and 5.76 loads of ground beef).
FEEDER CATTLE:
The feeder cattle complex is also rallying aggressively into Monday's noon hour as the contracts are currently seeing an overabundance of support from traders. September feeders are up $7.80 at $358.20, October feeders are up $8.22 at $354.90 and November feeders are up $6.90 at $350.15. The uptick in the board could help feeder cattle prices in the countryside too, even though the fall run is fully underway.
LEAN HOGS :
The lean hog complex seems to be appraising the marketplace early this week to see if there's going to be enough support to allow the contracts to trade higher. October lean hogs are up $0.72 at $97.85, December lean hogs are up $0.55 at $89.17 and February lean hogs are up $0.45 at $90.82. Pork cutout values are up slightly, but given their mixed nature last week, it will be important that traders see stable support this week. The projected CME Lean Hog Index for 9/12/2025 is steady at $106.14, and the actual index for 9/11/2025 is up $0.10 at $106.14. Hog prices are unavailable on USDA's Daily Direct Morning Hog Report because of confidentiality. However, we can see only 321 head have traded and the market's 5-day rolling average now sits at $106.85. Pork cutouts total 183.11 loads with 155.73 loads of pork cuts and 27.38 loads of trim. Pork cutout values: up $0.19, $114.70.
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