It was a promising day for the cattle complex as both the live cattle and feeder cattle markets were able to close higher upon hearing that the U.S/Mexico border isn't going to reopen anytime soon. No new cash cattle trade developed. December corn is up 2 cents per bushel and December soybean meal is up $2.20. The Dow Jones Industrial Average is down 74.37 points and the NASDAQ is up 130.98 points.
LIVE CATTLE:After some unneeded pain and plenty of anxiety, the live cattle complex was finally able to close higher again after receiving confirmation that Ag Secretary Brooke Rollins doesn't intend to open the U.S/Mexico border for cattle imports anytime soon. This was the news headline that the market needed to see to feel comfortable trading any direction but lower, and it finally came today. December live cattle closed $4.32 higher at $230.90, February live cattle closed $5.35 higher at $229.45 and April live cattle closed $5.42 higher at $228.77. A few more bids were offered throughout the day in the North, but no more cattle traded following the light business that developed earlier in the week. And upon seeing the board strengthen today, there's a chance that when more fed cash cattle trade develops later this week, prices will be better than what they were on Monday and Tuesday. Asking prices are noted anywhere from $234 to $240 in the South but are still not established in the North. Earlier this week, Northern dressed cattle traded for $360, which is $9.00 lower than the previous week's weighted average.
Wednesday's slaughter is estimated at 119,000 head, 1,000 head more than a week ago and 6,000 head less than a year ago.
Boxed beef prices closed higher: choice up $1.73 ($381.38) and select up $1.79 ($361.79) with a movement of 137 loads (88.68 loads of choice, 16.58 loads of select, 15.41 loads of trim and 15.92 loads of ground beef).
THURSDAY'S CATTLE CALL: Lower. I believe that the market will likely trade lower than last week's weighted average, but not as sharply lower as the trade that developed earlier this week, as the board has turned favorable.
FEEDER CATTLE:The feeder cattle complex thankfully found some support in Wednesday's trade as news broke that the U.S/Mexico border isn't going to reopen in the near future. The market had been on pins and needles waiting to get confirmation about what developed last week in the meeting Ag Secretary Brooke Rollins had, and luckily, the market was at last given that key piece of information. November feeders closed $8.67 higher at $342.07, January feeders closed $9.15 higher at $334.02 and March feeders closed $8.90 higher at $328.55. At the Springfield Livestock Marketing Center in Springfield, Missouri, compared to last week, steers sold anywhere from $25.00 to $40.00 lower, but heifers traded $20.00 to $30.00 lower. Feeder cattle supply over 600 pounds was 24%. The CME feeder cattle index 10/28/2025: down $3.63, $356.62.
LEAN HOGS:The lean hog complex continues to drift lower, and then lower, and then lower a little bit more as the market lacks the fundamental support it needs to change the market's technical direction. December lean hogs closed $0.05 lower at $80.77, February lean hogs closed $0.12 lower at $82.32 and April lean hogs closed $0.32 lower at $86.55. And while yes, pork cutout values were a tick higher this afternoon, traders need to see more than a day's worth of higher prices before they'll reflect that change in the futures complex. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $2.50 with a weighted average price of $85.53, ranging from $82.00 to $90.00 on 3,385 head and a five-day rolling average of $87.36. Pork cutouts totaled 294.18 loads with 247.86 loads of pork cuts and 46.32 loads of trim. Pork cutout values: up $0.22, $100.24. Wednesday's slaughter is estimated at 492,000 head, 1,000 head less than a week ago and 7,000 head more than a year ago. The CME lean hog index 10/27/2025: down $0.24, $92.03.
THURSDAY'S HOG CALL: Lower. Packers were extremely aggressive earlier in the week, which likely means that they won't have to buy many more hogs this week.
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