Thursday Midday Livestock Market Summary - Limited Support Continues to Send Contracts Lower

GENERAL COMMENTS:

It's been a glum morning for the livestock complex as the contracts are again lower as the market neglects to find enough support to help stabilize prices. Bids are currently on the table in both regions, but no new trade has developed. December corn is up 2 cents per bushel and December soybean meal is up $3.80. The Dow Jones Industrial Average is down 48.89 points and NASDAQ is up 45.24 points.

LIVE CATTLE:

Without any substantial fundamental support having developed in the complex this week, the live cattle contracts are yet again trading lower. October live cattle are down $0.92 at $230.17, December live cattle are down $1.45 at $233.05 and February live cattle are down $1.62 at $234.55. And yes, the spot December live cattle contract is again trading below its 40-day moving average as traders continue to look around for immediate support -- but are coming up short handed from both a fundamental and technical sense. Asking prices are noted in the South at $237 to $240, and at $363 plus in the North. No new trade has developed following the light business that transpired on Wednesday where some dressed cattle in Nebraska sold at $360 -- $5.00 lower than last week's weighted average. Some bids are on the table at $230 to $233 live in Kansas, and $230 live in Nebraska and $357 to $360 dressed.

Boxed beef prices are lower: choice down $5.37 ($363.10) and select down $2.36 ($344.53) with a movement of 82 loads (61.73 loads of choice, 10.22 loads of select, zero loads of trim and 9.70 loads of ground beef).

FEEDER CATTLE:

Following in the live cattle market's footsteps, the feeder cattle complex is also trading lower as traders continue to struggle to find enough support to justify trading higher. October feeder cattle are down $2.94 at $354.05, November feeders are down $5.47 at $352.12 and January feeders are down $5.22 at $346.80. Not to mention, adding only more kindling to the feeder cattle market's reasons to trade lower, the market did close lower Wednesday afternoon after traders decided they didn't possess enough support to be edging up against the market's resistance thresholds.

LEAN HOGS:

The lean hog complex is continuing to scale lower and lower as the market again left without enough support to help traders put a bottom in the downward spiral that the market's currently been on. October lean hogs are up $0.15 at $98.57, December lean hogs are down $0.35 at $86.55 and February lean hogs are down $0.62 at $88.40. Pork cutout values are again lower this morning with the picnic being the market begging hinderance as it alone is done $6.62.

The projected CME Lean Hog Index for 10/1/2025 is down $0.56 at $103.70, and the actual index for 9/30/2025 is down $0.47 at $104.26. Hog prices are lower on the Daily Direct Morning Hog Report, down $0.18 with a weighted average price of $99.77, ranging from $96.00 to $102.50 on 1,850 head and a five-day rolling average of $101.82. Pork cutouts total 163.27 loads with 139.78 loads of pork cuts and 23.49 loads of trim. Pork cutout values: down $0.80, $107.55.