Thursday Midday Livestock Market Summary - Cattle Trade Higher, Feedlot Managers Wait for More Money in the Cash Market

GENERAL COMMENTS:

The livestock complex is again trading mixed as the cattle complex continues to inch higher, but the lean hog complex is struggling to find enough support in the market. A single bid is currently on the table in Nebraska at $370, but so far, no cattle have traded yet. December corn is up 4 3/4 cents per bushel and December soybean meal is up $0.30. The Dow Jones Industrial Average is down 43.71 points and NASDAQ is up 31.94 points.

LIVE CATTLE:

With the anticipation that fed cash cattle prices will trade higher again this week; traders are continuing to push the live cattle contracts higher into Thursday's noon hour. Again, today it's the market's deferred contacts that are seeing the biggest day-over-day gains as everyone in the industry is clearly recognizing that although supplies are thin now, they're going to become even thinner before the cowherd is rebuilt. December live cattle are up $0.75 at $247.52, February live cattle are up $0.77 at $249.52 and April live cattle are up $0.87 at $250.45. A few bids are now on the table in the North, where packers are offering $370 for dressed cattle. But at this point, still no cash cattle have traded. Asking prices are set in the South at $240 plus, and in eastern Nebraska at $380.

Boxed beef prices are mixed: choice down $1.00 ($365.48) and select up $0.11 ($349.27) with a movement of 63 loads (36.13 loads of choice, 12.22 loads of select, 3.71 loads of trim and 11.25 loads of ground beef).

FEEDER CATTLE:

The feeder cattle complex is also trading higher into Thursday's noon hour as traders continue to believe in the market's positive long-term fundamentals. November feeders are up $0.05 at $380.72, January feeders are up $0.90 at $378.75 and March feeders are up $1.47 at $377.07. Demand has been utterly incredible this week in sales across the countryside, as shown by the CME feeder cattle index's rally, which reached a new all-time high Wednesday afternoon at $374.47.

LEAN HOGS:

The lean hog complex is again trading lower as the market simply isn't seeing the fundamental support it needs to give traders enough confidence that the contracts should trade steady to somewhat higher. Yes, pork cutout values may be a tick stronger this morning, but overall demand has been volatile, and traders want steadfast confidence. December lean hogs are down $0.90 at $82.70, February lean hogs are down $0.50 at $85.20 and April lean hogs are down $0.32 at $89.00.

The projected lean hog index for 10/15/2025 is down $0.61 at $96.59, and the actual index for 10/14/2025 is down $0.79 at $97.20. Hog prices are lower on the Daily Direct Morning Hog Report, down $3.56 with a weighted average price of $91.56, ranging from $85.00 to $97.00 on 1,162 head and a five-day rolling average of $95.31. Pork cutouts total 176.52 loads with 151.73 loads of pork cuts and 24.79 loads of trim. Pork cutout values: up $0.17, $102.13.