The livestock complex successfully closed higher, as traders decided to lend the contracts some late-week support. The cash cattle market finally saw some trade develop at $233 in the South ($3.00 lower). December corn is down 2 3/4 cents per bushel and December soybean meal is down $0.70. The Dow Jones Industrial Average is up 238.56 points and the NASDAQ is down 63.54 points.
From Friday to Friday, livestock futures scored the following changes: October live cattle down $0.78, December live cattle up $0.20; October feeder cattle up $0.18, November feeder cattle up $0.95; October lean hogs down $2.52, December lean hogs down $3.75; December corn down $0.03, March corn down $0.03.
LIVE CATTLE:The live cattle complex ended the day slightly higher, mainly being mildly supported by traders through the day's close, even though nothing significant developed from a fundamental sense, as cash prices again traded lower and boxed beef prices closed mixed. October live cattle closed $0.50 higher at $231.02, December live cattle closed $1.02 higher at $234.50 and February live cattle closed $0.87 higher at $236.82. Earlier this week, some light Northern trade developed at $360, which is $5.00 lower than last week's weighted average, and Southern live cattle just began to trade at mostly $233, which is $3.00 lower than last week's weighted average.
Friday's slaughter is estimated at 91,000 head, 3,000 head less than a week ago and 17,000 head less than a year ago. Saturday's slaughter is projected to be around 8,000 head. The week's total slaughter is estimated at 557,000 head, 2,000 head more than a week ago and 54,000 head less than a year ago.
Boxed beef prices closed mixed: choice down $0.95 ($362.27) and select up $1.98 ($345.38) with a movement of 163 loads (119.74 loads of choice, 19.82 loads of select, 11.70 loads of trim and 11.99 loads of ground beef).
MONDAY'S CATTLE CALL: Steady to somewhat lower. It will be interesting to see what this week's volume amounts to unless some sizeable trade develops later today, as the week's volume has been thin.
FEEDER CATTLE:The feeder cattle complex also was able to close higher as traders once again followed the live cattle market's direction. October feeders closed $2.87 higher at $357.17, November feeders closed $3.02 higher at $355.42 and January feeders closed $2.55 higher at $349.72. It is worth noting that the spot November contract was able to close above the market's 40-day moving average which is always a positive technical signal, although we don't know what trades will do with that development next week as just this past week trades sent the contracts tumbling lower because the contracts were trading too high and not enough support was backing their price point. The Oklahoma Weekly Cattle Auction Summary shared that compared to last week, feeder steers and heifers traded $5.00 to $15.00 lower. Steer calves over 450 pounds traded $10.00 lower, but steers under 450 pounds sold $10.00 higher. Heifer calves over 450 pounds traded $5.00 to $10.00 lower, but heifers under 450 pounds sold steady to $5.00 lower. Flyweight cattle traded at a premium as buyers expect supplies to be even tighter in the future. Feeder cattle supply over 600 pounds was 57%. The CME feeder cattle index 10/2/2025: up $0.94, $362.57.
LEAN HOGS:The lean hog complex was also able to close slightly higher as traders finally seemed to find a little technical support after sending the contracts sharply lower earlier in the week, and it did help that some late-week pork demand surfaced, too. October lean hogs closed $0.30 higher at $98.97, December lean hogs closed $0.62 lower at $87.30 and February lean hogs closed $0.85 higher at $89.30. The afternoon carcass price was mostly supported by the picnic's $2.69 increase and the belly's $2.78 increase. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $0.20 with a weighted average price of $98.72 on 1,983 head. Pork cutouts totaled 337.24 loads with 281.17 loads of pork cuts and 56.08 loads of trim. Pork cutout values: up $0.95, $108.30. Friday's slaughter is estimated at 485,000 head, 21,000 head more than a week ago and 4,000 head more than a year ago. Saturday's slaughter is projected to be around 178,000 head. The CME lean hog index 10/1/2025: down $0.56, $103.70.
MONDAY'S HOG CALL: Lower. The cash hog market rarely sees packers jump into the market aggressively on Mondays.
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