GENERAL COMMENTS:
The cattle complex had another phenomenal day where massive gains were seen as traders continue to bullishly push the contracts higher upon seeing the immense support in the market's long-term outlook. Still no cash cattle trade developed. December corn is up 2 1/4 cents per bushel and December soybean meal is up $0.20. The Dow Jones Industrial Average is up 202.88 points and the NASDAQ is down 172.91 points.
LIVE CATTLE:
It was another wild day for the live cattle complex as the market closed well over $1.00 higher, and in the deferred contracts, the market saw as much as a $2.00 rally for some of the contracts. The market is currently filled to the brim with plenty of fundamental support, fueled by the strong rally in the feeder cattle market, the continued uptick in beef demand, and the hope that fed cash cattle prices could be even stronger again this week. However, at the same time, even with this much of an upward surge, let us not forget that technical vulnerability lingers. December live cattle closed $1.75 higher at $246.50, February live cattle closed $1.32 higher at $248.52 and April live cattle closed $1.45 higher at $249.67. It was another quiet day in the cash cattle market with no trade developing, but asking prices were noted at $240 in the South and are still not fully established in the North.
Tuesday's slaughter is estimated at 120,000 head, 4,000 head more than a week ago and 4,000 head less than a year ago.
Boxed beef prices closed higher: choice up $0.51 ($364.42) and select up $0.80 ($350.55) with a movement of 145 loads (95.65 loads of choice, 22.31 loads of select, 7.08 loads of trim and 19.82 loads of ground beef).
WEDNESDAY'S CATTLE CALL: Higher. With feedlot managers able to push the cash market higher last week, they're likely to aim to push the market higher again this week.
FEEDER CATTLE:
It was a wild day for the feeder cattle complex as traders drove the contracts mostly $4.00 higher through Tuesday's end, as the feeder cattle market continues to be the driving force of the cattle market's rally. Fueled by tremendous demand, limited supplies, and the knowledge that feed is cheap, traders haven't been bashful about skyrocketing the feeder cattle complex to new highs. November feeders closed $4.60 higher at $381.32, January feeders closed $4.32 higher at $378.05 and March feeders closed $4.27 higher at $375.52. At Joplin Regional Stockyards in Carthage, Missouri, compared to last week, feeder steers traded $5.00 to $20.00 higher, with feeder heifers selling $10.00 to $30.00 higher. Feeder cattle supply over 600 pounds was 70%. The CME feeder cattle index 10/13/2025: up $4.02, $373.02.
LEAN HOGS:
The lean hog complex wasn't as fortunate as the market sank substantially lower throughout the day, seeming to plummet lower as traders remain unconfident in the market's near future. December lean hogs closed $1.70 lower at $83.15, February lean hogs closed $1.52 lower at $85.45 and April lean hogs closed $1.25 lower at $89.05. The market's next nearby support plane is around $82.00, which thankfully the market didn't break below this afternoon, but if pressure remains burdensome on Wednesday, that level could be in danger. It was positive, however, to see a big movement in the cash market, as last week packers barely participated in the market.
Hog prices closed higher on the Daily Direct Afternoon Hog Report, up $0.76 with a weighted average price of $93.05 on 10,512 head. Pork cutouts totaled 350.43 loads with 301.32 loads of pork cuts and 49.11 loads of trim. Pork cutout values: up $0.17, $103.76. Tuesday's slaughter is estimated at 491,000 head, 11,000 head more than a week ago and 1,000 head more than a year ago. The CME lean hog index 10/10/2025: down $0.86, $98.57.
WEDNESDAY'S HOG CALL: Steady. Packers were aggressive in today's cash market, but they'll still need to buy more hogs before the week's end.
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