GENERAL COMMENTS:
It was a mixed day for the livestock complex as the cattle contracts closed higher, but the lean hog contracts saw mixed interest. New showlists appear to be mixed, higher in Nebraska/Colorado and Texas, but lower in Kansas. December corn is up 2 3/4 cents per bushel and December soybean meal is down $1.50. The Dow Jones Industrial Average is down 63.31 points and the NASDAQ is up 161.16 points.
LIVE CATTLE:
It was an impressive day for the live cattle complex as not only did the contracts close $2.00 to $3.00 higher, but boxed beef prices closed higher as well. October live cattle closed $0.85 higher at $231.87, December live cattle closed $2.17 higher at $236.67 and February live cattle closed $2.80 higher at $239.62. It's impressive to see that the spot December contract closed above its 40-day moving average for the first time in six trading days, which could prove to be a pivotal springboard for the market as fundamental support continues to encourage traders. It's assumed that again this week that fed cash cattle prices will trade steady at best, but if boxed beef prices begin to find some seasonally support, that could be helpful for the market. New showlists appear to be mixed, higher in Nebraska/Colorado and Texas, but lower in Kansas. Monday's slaughter is estimated at 101,000 head, 12,000 head less than a week ago and 9,000 head less than a year ago.
Last week, Northern dressed trade began to develop on Tuesday and saw small increments of cattle trade throughout the remainder of the week. Northern trade was mostly marked at $360, which is $5.00 lower than the previous week's weighted average. Southern live cattle waited to trade until late Friday afternoon, where most of the business was done at $233, which is $3.00 lower than the previous week's weighted average. Last week's negotiated cash cattle trade totaled 53,446 head. Of that 80% (42,667 head) were committed to the market's nearby delivery, while the remaining 20% (10,779 head) were committed to the market's deferred delivery option.
Boxed beef prices closed higher: choice up $1.07 ($363.34) and select up $2.59 ($347.97) with a movement of 143 loads (101.42 loads of choice, 24.31 loads of select, 8.42 loads of trim and 8.36 loads of ground beef).
TUESDAY'S CATTLE CALL: Steady/somewhat lower. It's likely again this week that fed cash cattle prices trade steady at best, but there's still a chance that packers could work the market lower.
FEEDER CATTLE:
It was a robust day for the feeder cattle complex as not only did the market see ample trader support, but buyers were aggressive in the countryside as well. October feeders closed $5.22 higher at $362.40, November feeders closed $5.37 higher at $360.80 and January feeders closed $5.47 higher at $355.20. The market may be faced with some pressure on Tuesday as it's near resistance levels. At Joplin Regional Stockyards in Carthage, Missouri, compared to last week, feeder steers sold steady to $15.00 higher, except the five weight steers traded $10.00 to $25.00 higher, and the four weights traded $5.00 to $15.00 lower. Feeder heifers sold unevenly steady with a wide price swing of $8.00 higher to $8.00 lower being the norm. The weaned and vaccinated cattle were met with stronger demand. Feeder cattle supply over 600 pounds was 75%. The CME feeder cattle index 10/3/2025: up $0.90, $363.47.
LEAN HOGS:
The lean hog complex rounded out the day mixed with the nearby contracts facing some modest pressure, but the deferred months closed fully higher. December lean hogs closed $0.02 lower at $87.27, February lean hogs closed $0.25 higher at $89.55 and April lean hogs closed $0.47 higher at $92.40. It was disappointing for the market to see that pork demand fell this afternoon after the midday report was robustly supportive, but with the belly's $6.00 decline, the carcass price stood little chance at closing higher. Hog prices closed higher on the Daily Direct Afternoon Hog Report, up $0.67 with a weighted average price of $99.39 on 8,816 head. Pork cutouts totaled 342.77 loads with 295.10 loads of pork cuts and 47.67 loads of trim. Pork cutout values: down $0.95, $107.35. Monday's slaughter is estimated at 491,000 head, 1,000 head more than a week ago and 19,000 head more than a year ago. The CME lean hog index 10/2/2025: down $0.86, $102.84.
TUESDAY'S HOG CALL: Higher. Packers will likely be more aggressive in the cash market on Tuesday.
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