GENERAL COMMENTS:
It's been a quiet morning for the livestock complex as the cattle contracts are trading slightly higher, but the lean hog contracts are still trading lower as demand remains weak. There are some bids on the table for the fed cash cattle market, but no new trade has developed. December corn is down 2 cents per bushel and December soybean meal is up $6.80. The Dow Jones Industrial Average is up 240.64 points and the NASDAQ is down 183.70 points.
LIVE CATTLE:
The live cattle complex is continuing to trade higher as traders simply remain pleased to have a quiet, uneventful day in the marketplace. After plummeting lower the last week and a half, it's refreshing for the market to have a slightly bullish, no-headline, non-earth-shattering type of day -- just quiet and subtle trading. December live cattle are up $0.85 at $231.75, February live cattle are up $1.15 at $230.60 and April live cattle are up $1.02 at $229.80. Bids are on the table in both Nebraska and Kansas, but following the trade earlier this week, no more business has developed. Asking prices are noted in the South at $238 to $240. Earlier this week Northern dressed cattle sold for $360, which is $9.00 lower than the previous week's weighted average.
Boxed beef prices are lower: choice down $3.29 ($378.09) and select down $2.20 ($359.59) with a movement of 70 loads (43.15 loads of choice, 15.95 loads of select, 4.68 loads of trim and 6.11 loads of ground beef).
FEEDER CATTLE:
The feeder cattle complex is continuing to trade higher as the market remains relieved to have heard on Wednesday that the U.S/Mexico border isn't likely going to reopen any time soon to Mexican cattle imports. This was the silver lining after a week and a half of downward trading that the market desperately needed to hear to help push prices back higher. November feeders are up $2.85 at $344.92, January feeders are up $3.20 at $337.25 and March feeders are up $3.65 at $332.20. Thankfully, the market is now trading above its 100-day moving average in the spot November contract, which is a slow start to some hopeful recovery.
LEAN HOGS:
The lean hog complex is once again trading lower as no significant fundamental improvements have surfaced. December lean hogs are up $0.25 at $81.02, February lean hogs are steady at $82.32 and April lean hogs are down $0.10 at $86.45. Until consumer support rounds the corner and shows more demand, the market will likely continue to trade in this sideways doggish manner.
The projected lean hog index for 10/29/2025 is down $0.33 at $91.53 and the actual index for 10/28/2025 is down $0.17 at $91.86. Hog prices are unavailable on the Daily Direct Morning Hog Report because zero hogs have been traded this morning. The report does continue to note that the market's five-day rolling average remains at $87.99. Pork cutouts total 163.68 loads with 135.54 loads of pork cuts and 28.15 loads of trim. Pork cutout values: up $0.07, $100.31.
No comments:
Post a Comment