The livestock complex closed mostly higher Thursday afternoon as traders were willing to lend the market some mild support. Friday will be a significant day for the livestock complex, particularly the cattle complex, as the cash cattle market is expected to see increased trading activity and the monthly Cattle on Feed report will be released. December corn is down 3 cents per bushel and December soybean meal is down $1.00. The Dow Jones Industrial Average is up 124.10 points and the NASDAQ is up 209.40 points.
Thursday's export report indicated that beef net sales of 15,800 metric tons (mt) for 2025 were up 31% from the previous week and 21% from the prior four-week average. The three largest buyers were South Korea (8,000 mt), Mexico (1,700 mt) and Indonesia (1,600 mt). Pork net sales of 22,000 mt for 2025 were up 27% from the previous week but down 14% from the prior 4-week average. The three largest buyers were Japan (6,600 mt), Mexico (6,200 mt) and China (3,000 mt).
LIVE CATTLE:The live cattle complex was able to round out the day higher as the market continues to chop in its tight, sideways trading range. October live cattle closed $1.27 higher at $232.37, December live cattle closed $1.47 higher at $234.15 and February live cattle closed $1.42 higher at $235.77. It was positive from a technical standpoint to see the spot December contract pull higher and move further away from the market's 40-day moving average. A few deals have been marked in Nebraska at $370 to $376, which is anywhere from steady to $6.00 lower than last week's weighted average. But they are currently on the table in the South as well, but no cattle have traded in that region just yet. Asking prices are firm in the South at $240 plus, but have still not been established in the North. It's possible that trade could be delayed until after Friday's Cattle on Feed report.
Thursday's slaughter is estimated at 112,000 head, 5,000 head less than a week ago and 8,000 head less than a year ago.
Boxed beef prices closed lower: choice down $2.37 ($385.81) and select down $5.06 ($361.31) with a movement of 99 loads (48.75 loads of choice, 24.48 loads of select, 11.75 loads of trim and 14.02 loads of ground beef).
FRIDAY'S CATLE CALL: Lower. It's most likely that cash cattle prices will trade lower this week, and steady at best.
FEEDER CATTLE:Keeping to its regular behavior as of late, the feeder cattle complex followed in the live cattle market's direction throughout the day to successfully end the day higher. September feeders closed $3.15 higher at $358.17, October feeders closed $2.60 higher at $351.72 and November feeders closed $3.10 higher at $347.22. At the Winter Livestock Auction in Pratt, Kansas, compared to last week, feeder steers weighing 500 to 975 pounds sold steady to $6.00 lower. Steer calves weighing 300 to 500 pounds sold $10.00 to $40.00 higher. Feeder heifers weighing 700 to 900 pounds traded steady to $6.00 higher. Heifers over 900 pounds sold up $01.00 higher. Heifers weighing 500 to 700 pounds sold steady to $10.00 lower. Heifer calves weighing 300 to 500 pounds sold $3.00 to $02.00 higher. Slaughter cows sold $2.00 to $4.00 lower and slaughter bulls traded $1.00 to $3.00 higher. Feeder cattle supply over 600 pounds was 70%. The CME feeder cattle index 9/17/2025: up $1.26, $362.62.
LEAN HOGS:The lean hog complex ended the day mixed as the market's nearby and deferred contracts closed mostly higher, but there were some contracts spanning from February 2026 to May 2026 that lacked technical support. It is positive, however, to see pork cutout values close slightly higher as demand has been touch-and-go lately in the pork complex. October lean hogs closed $0.15 higher at $97.47, December lean hogs closed $0.05 higher at $87.70 and February lean hogs closed steady at $89.70. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $1.11 with a weighted average price of $105.60 on 4,122 head. Pork cutouts total 409.77 loads with 365.83 loads of pork cuts and 43.94 loads of trim. Pork cutout values: up $0.97, $111.95. Thursday's slaughter is estimated at 476,000 head, 11,000 head less than a week ago and 10,000 head more than a year ago. The CME lean hog index 9/16/2025: down $0.14, $105.86.
FRIDAY'S HOG CALL: Lower. Packers have likely fulfilled the vast majority of their needs for the week.
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