Monday Midday Livestock Market Summary - Stronger Tones Push Contracts Higher

GENERAL COMMENTS:

The livestock complex is trading mostly higher into midday Monday, as traders are fully supporting the livestock sector at the start of the week. December corn is up 2 cents per bushel and December soybean meal is up $1.50. New showlists appear to be mixed, higher in Kansas, but lower in Texas and Nebraska/Colorado. The Dow Jones Industrial Average is down 40.60 points and the NASDAQ is up 101.97 points.

LIVE CATTLE:

The live cattle complex is off to a strong start for the week, as the market may have found some technical footing in the marketplace, as it's now trading higher following last week's consistent downward trend. October live cattle are up $0.72 at $236.70, December live cattle are up $0.90 at $238.32 and February live cattle are up $1.27 at $239.95. It is helpful that boxed beef prices are stronger at the week's start as well, but it's too early to decipher what this week's cash cattle trade may do.

Last week Southern live cattle traded at mostly $242, which is mostly steady with the previous week's weighted average, and Northern dressed cattle traded at mostly $383, which is $2.00 lower than the previous week's weighted average.

Boxed beef prices are higher: choice up $0.82 ($411.58) and select up $2.28 ($387.47) with a movement of 46 loads (29.75 loads of choice, 7.55 loads of select, 2.59 loads of trim and 6.46 loads of ground beef).

FEEDER CATTLE:

The feeder cattle complex is also trading higher at Monday's start as traders no longer feel the immediate pressure of being up against the market's resistance threshold. Thankfully, demand in the countryside for calves and feeders has remained incredible, which consequently adds some fundamental support to the complex as well. September feeders are up $1.40 at $361.22, October feeders are up $1.85 at $359.80 and November feeders are up $2.10 at $358.25.

LEAN HOGS:

The lean hog complex is off to a mostly stronger start this week, although the October and December 2025 contracts are trading slightly lower. More than anything, it seems as though the nearby contracts may be slightly apprehensive to trade much higher as resistance pressure isn't far away. It is helpful again to see that pork cutout values are higher, with the picnic taking the day's biggest jump of $8.06. October lean hogs are down $0.75 at $95.27, December lean hogs are down $0.12 at $88.20 and February lean hogs are up $0.17 at $90.55.

The projected lean hog index is delayed from the source. Hog prices are unavailable on the Daily Direct Morning Hog Report because of confidentiality. However, we can see that only 1,185 head have traded and that the market's five-day rolling average now sits at $105.14. Pork cutouts total 165.52 loads with 143.38 loads of pork cuts and 22.14 loads of trim. Pork cutout values: up $1.25, $117.12.