The livestock complex closed mixed, with the cattle contracts lower but the lean hog contracts higher. Some more sales were noted in the cash cattle market, but prices ranged from $2.00 lower to $1.00 higher. October lean hogs are up $1.20 at $95.025, December corn is up 1 3/4 cents per bushel and December soybean meal is up $1.20. The Dow Jones Industrial Average is up 350.06 points and the NASDAQ is up 209.96 points.
LIVE CATTLE:It was a lackluster day for the live cattle complex as the contracts continued to trade lower through the day's end, and the sales that developed in the fed cash cattle market were all over the board compared to last week's trade. October live cattle closed $1.37 lower at $236.95, December live cattle closed $1.70 lower at $238.55 and February live cattle closed $1.75 lower at $239.87. A light trade was noted in the South at $242, which is steady with last week's weighted average, and interestingly enough, a few sales have even been marked in Kansas at $243, which is $1.00 higher than last week's weighted average. But the sales marked in the North have been mostly at $383, which is $2.00 lower than the previous week's weighted average. But as anticipated, even with a few sales being slightly stronger in the countryside, the developments in the cash market weren't supportive enough to convince traders that the contracts should trade higher. Some more cash cattle trade could develop on Friday, but it will most likely be a clean-up in nature. Asking prices remain firm in the South at $244 to $245, and in the North at $385.
Thursday's slaughter is estimated at 121,000 head, 3,000 head more than a week ago and 3,000 head less than a year ago.
Boxed beef prices are mixed: choice down $1.80 ($414.21) and select up $0.04 ($387.77) with a movement of 142 loads (69.89 loads of choice, 24.18 loads of select, 35.01 loads of trim and 13.41 loads of ground beef).
FRIDAY'S CATTLE CALL: Steady. Given that cattle have traded in both regions now, it's likely that prices will remain mostly steady with the week's average.
FEEDER CATTLE:Much like the live cattle market, the feeder cattle complex traded lower throughout the day as traders remained concerned about the market's technical position. September feeders closed $2.25 lower at $359.82, October feeders closed $2.55 lower at $358.95 and November feeders closed $3.00 lower at $358.07. At Clovis Livestock Auction in Clovis, New Mexico, compared to last week, steer calves weighing 300 to 350 pounds traded $10.00 lower, but those weighing 350 to 550 pounds traded $5.00 to $15.00 higher; however, the steers weighing 550 to 600 pounds traded $2.00 lower. Steer yearlings weighing 600 to 850 pounds traded steady to $10.00 higher. Heifer calves weighing 300 to 400 pounds were steady to $10.00 higher, but those weighing 400 to 450 pounds sold $12.00 to $18.00 lower, while those weighing 450 to 600 pounds traded $11.00 to $19.00 higher. Feeder cattle supply over 600 pounds was 32%. The CME feeder cattle index 9/3/2025: down $4.08, $361.35.
LEAN HOGS:Following Wednesday's sharp selloff in the lean hog complex, thankfully, Thursday afforded the market an opportunity to trade slightly higher. It was slightly helpful that cash prices traded a bit higher, but the afternoon cutout price was weaker. October lean hogs closed $1.20 higher at $95.02, December lean hogs closed $0.17 higher at $87.30 and February lean hogs closed $0.20 higher at $89.50. The biggest issue this afternoon regarding the carcass price was the $7.73 decline in the picnic, which obviously sucked the carcass price lower. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $1.24 with a weighted average price of $104.43 on 6,282 head and a five-day rolling average of $105.45. Pork cutouts totaled 292.98 loads with 257.80 loads of pork cuts and 35.18 loads of trim. Pork cutout values: down $1.41, $113.32. Thursday's slaughter is estimated at 489,000 head, 2,000 head more than a week ago and 8,000 head more than a year ago. The CME lean hog index 9/2/2025: steady, $105.92.
FRIDAY'S HOG CALL: Lower. At this point, packers have likely bought the vast majority of the needs already for the cash market.
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