GENERAL COMMENTS:
It was a lackadaisical day for the livestock complex as the cattle contracts closed slightly higher while the hog contracts again drifted lower. Some more light cash cattle trade developed, but more business will need to develop on Friday. December corn is down 3 3/4 cents per bushel and December soybean meal is up $6.90. The Dow Jones Industrial Average is down 109.88 points and the NASDAQ is down 377.33 points.
LIVE CATTLE:
After the last couple of weeks, the live cattle complex was somewhat joyful to have a mundane, mildly supportive day after having plummeted in days past. The live cattle contracts saw only mild support from traders, but after multiple days on end when prices were crashing, modest day-over-day support is a blessing, the market noted today. December live cattle closed $0.20 higher at $231.10, February live cattle closed $0.05 higher at $229.50 and April live cattle closed $0.07 lower at $228.70. Some light cash cattle trade did develop throughout the day, but its volume was limited and could mean that prices could still vary on Friday. However, some live deals were noted at $235, which is $3.00 to $4.00 lower than last week's weighted average. And some more cattle traded in the North at $360, which is steady with the week's business, but still $9.00 lower than last week's weighted average
Thursday's slaughter is estimated at 114,000 head, 5,000 head less than a week ago and 6,000 head less than a year ago.
Boxed beef prices closed lower: choice down $3.11 ($378.27) and select down $2.27 ($359.52) with a movement of 102 loads (62.95 loads of choice, 20.60 loads of select, 8.26 loads of trim and 9.72 loads of ground beef).
FRIDAY'S CATTLE CALL: Steady. Given that trade has now developed in both regions, it's likely that prices will stay steady with the week's trend.
FEEDER CATTLE:
Aside from its nearby contracts, the feeder cattle complex again closed higher as the market was simply relieved to have no new headlines crater the market today. November feeders closed $0.25 lower at $341.82, January feeders closed $0.20 higher at $334.22 and March feeders closed $0.67 higher at $329.22. Even though today's close was slightly lower in the spot November contract, the contract is still trading above its 100-day moving average. At the R Livestock Auction in Monroe, Utah, compared to last week, feeder cattle sold sharply lower, and so did calves and yearlings. Slaughter cows sold $4.00 to $5.00 lower, and slaughter bulls traded $8.00 to $10.00 cheaper. Feeder cattle supply over 600 pounds was 24%. The CME feeder cattle index 10/29/2025: down $4.62, $352.00.
LEAN HOGS:
The same story remains the theme for the lean hog complex as the market once again closed somewhat lower, until it really gains a foothold on the market, as demand isn't gaining enough support. December lean hogs closed $0.05 higher at $80.82, February lean hogs closed $0.22 lower at $82.10 and April lean hogs closed $0.45 lower at $86.10. Unfortunately, this lower waning trend will likely continue until consumer demand perks back up. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $0.79 with a weighted average price of $84.74 on 1,895 head. Pork cutouts totaled 267.08 loads with 230.08 loads of pork cuts and 37.00 loads of trim. Pork cutout values: up $0.04, $100.28. Thursday's slaughter is estimated at 483,000 head, 7,000 head more than a week ago and 3,000 head less than a year ago. The CME lean hog index 10/28/2025: down $0.17, $91.86.
FRIDAY'S HOG CALL: Lower. Packers won't likely engage much in Friday's cash market.
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