GENERAL COMMENTS:
The livestock complex closed mixed as the cattle contracts again inched higher as traders continue to believe in the market's strong fundamental trajectory, but the lean hog complex didn't see that same level of support. A few sales were noted throughout the day in the North, but not enough cattle traded to say that any trend was established. December corn is up 5 cents per bushel and December soybean meal is up $1.00. The Dow Jones Industrial Average is down 301.07 points and the NASDAQ is down 107.54 points.
LIVE CATTLE:
It was another grandiose day for the live cattle complex as the market closed higher, fueled by the hope and the assumption that fed cash cattle prices will again trade higher this week. There have only been a few sales reported in Nebraska at this point, ranging anywhere from $372 to $372.50, but not enough cattle have traded to say that any sort of accurate trend has been established for the week. But with supplies limited and packers short bought, the different players in the market have all but agreed that prices will be higher, but the real question remains: how much higher? Asking prices remain firm at $240 in the South and at $380 in the North. December live cattle closed $1.10 higher at $247.87, February live cattle closed $0.80 higher at $249.55 and April live cattle closed $0.67 higher at $250.25.
Thursday's slaughter is estimated at 118,000 head, 7,000 head more than a week ago and 1,000 head more than a year ago.
Boxed beef prices are lower: choice down $0.37 ($366.11) and select down $0.23 ($348.93) with a movement of 99 loads (63.45 loads of choice, 17.08 loads of select, 5.85 loads of trim and 12.19 loads of ground beef).
FRIDAY'S CATTLE CALL: Higher. With supplies short and boxed beef prices seeing better demand, prices will likely be higher again this week.
FEEDER CATTLE:
The feeder cattle complex was again able to round out the day higher as traders continue to point to one thing -- limited supply -- and let the rest of the market's noise and chaos simmer in the background. November feeders closed $0.27 higher at $380.95, January feeders closed $0.70 higher at $378.55 and March feeders closed $1.10 higher at $376.70. At La Junta Livestock Commission in La Junta, Colorado, compared to last week, feeder steers under 650 pounds sold sharply higher, but feeder steers over 650 pounds traded $4.00 to $7.00 lower. Feeder heifers under 500 pounds sold sharply higher as well, but the feeder heifers over 500 pounds traded $6.00 to $7.00 cheaper. Feeder cattle supply over 600 pounds was 39%. The CME feeder cattle index 10/15/2025: up $0.63, $375.10.
LEAN HOGS:
It was a dismal day for the lean hog complex as the market closed lower again today, as traders aren't confident that there's enough support in the market to justify trading the contracts higher. December lean hogs closed $1.00 lower at $82.60, February lean hogs closed $0.60 lower at $85.10 and April lean hogs closed $0.47 lower at $88.85. Yes, pork cutout values did close slightly higher, but without substantial support and consistency day over day, one day's worth of a higher close isn't enough for traders. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $1.95 with a weighted average price of $91.47 on 1,337 head. Pork cutouts totaled 325.33 loads with 285.70 loads of pork cuts and 39.63 loads of trim. Pork cutout values: up $0.21, $102.17. Thursday's slaughter is estimated at 492,000 head, 1,000 head more than a week ago and 6,000 head more than a year ago. The CME lean hog index 10/14/2025: down $0.79, $97.20.
FRIDAY'S HOG CALL: Lower. It's likely that packers are mostly done buying in this week's cash market.
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