GENERAL COMMENTS:
The livestock complex had a less-than-desirable day as the market neglected to find the support it needed throughout the day's trading hours. Still no cash cattle trade has developed, and asking prices remain elusive. December corn is up 6 1/4 cents per bushel and December soybean meal is up $0.40. The Dow Jones Industrial Average is down 125.55 points and the NASDAQ is down 14.79 points.
LIVE CATTLE:
It was a lackadaisical day for the live cattle complex as the market struggled to find enough support to help justify trading the contracts higher. It's fully assumed that later this week the fed cash cattle market will trade lower as packers have been able to secure more inventory in recent weeks, and with boxed beef prices expected to continue their lower trend, that doesn't give traders much immediate support to cling to. Nevertheless, it was positive to see the market only trade moderately lower as the whiplash effect has been significant over the last three trading days. No developments surfaced in the fed cash cattle market as both bids and asking prices remain elusive at this point. October live cattle closed $1.15 lower at $233.45, December live cattle closed $1.12 lower at $235.15 and February live cattle closed $0.80 lower at $237.00.
Tuesday's slaughter is estimated at 121,000 head, 3,000 head more than a week ago and 5,000 head less than a year ago.
Boxed beef prices closed lower: choice down $5.91 ($392.62) and select down $5.63 ($373.17) with a movement of 166 loads (90.52 loads of choice, 27.21 loads of select, 28.49 loads of trim and 20.01 loads of ground beef).
WEDNESDAY'S CATTLE CALL: Steady/somewhat lower. It's fully assumed that again this week the fed cash cattle market will likely trade lower, but there's always a chance that in a bull market like this, feedlot managers could elect to hold onto their showlists if prices aren't what they deem appropriate, which could potentially keep the market steady.
FEEDER CATTLE:
Seeming to follow the live cattle market's direction, the feeder cattle complex also rounded out the day lower. September feeders closed $0.47 lower at $358.32, October feeders closed $0.20 lower at $254.30 and November feeders closed $0.85 lower at $349.40. With the fall run fully underway, a slightly weaker tone has been noticeable in the countryside, but even with the slight downturn in prices, the CME feeder cattle index still remains incredibly high as it has thus far maintained a position over $360.00. At Joplin Regional Stockyards in Carthage, Missouri, compared to last week, feeder steers under 750 pounds traded $2.00 to $10.00 lower, but the heavier cattle traded anywhere from $3.00 lower to $8.00 higher. Feeder heifers sold from $2.00 to $15.00 lower, with the most loss seen on those weighing under 700 pounds. Feeder cattle supply over 700 pounds was 65%. The CME feeder cattle index 9/15/2025: down $0.52, $361.63.
LEAN HOGS:
The lean hog complex rounded out the day mixed as the markets nearby contracts closed lower, but the deferred contracts were able to maintain their stronger position through the day's end. October lean hogs closed $0.15 lower at $97.37, December lean hogs closed $0.62 lower at $88.22 and February lean hogs closed $0.25 lower at $90.20. Pork cutout values were again disappointing this afternoon and lent no support, but the cash market was noteworthy as it traded over 17,000 head of hogs. Hog prices on the Daily Direct Afternoon Hog Report were up $0.42 with a weighted average of $106.29 on 17,905 head. Pork cutouts totaled 372.83 loads with 329.70 loads of pork cuts and 43.13 loads of trim. Pork cutout values: down $1.79, $112.28. Tuesday's slaughter is estimated at 488,000 head, 6,000 head more than a week ago and 12,000 head more than a year ago. The CME lean hog index 9/12/2025: steady, $106.14.
WEDNESDAY'S HOG CALL: Steady. Even though today's movement was large, packers will likely need to be aggressive for at least another day this week.
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