GENERAL COMMENTS:
It's another mixed day for the livestock complex as the cattle contracts are trading slightly lower as traders wait to see what else develops fundamentally this week, but the lean hog complex is trading higher upon finding some technical support. Still no cash cattle trade has developed. December corn is up 4 3/4 cents per bushel and December soybean meal is up $2.30. The Dow Jones Industrial Average is up 81.08 points and the NASDAQ is up 153.28 points.
LIVE CATTLE:
Following the tremendous gains seen earlier this week, the live cattle complex is now trading lower as traders appear more cautious, seeming to need more fundamental support to develop before they'll advance the contracts any higher. December live cattle are down $0.37 at $246.12, February live cattle are down $0.50 at $248.05 and April live cattle are down $0.77 at $248.90. Still no cash cattle trade has developed, but it is assumed that feedlot managers are going to aim for higher prices again this week. No bids have surfaced yet, and it's assumed that the market won't see some trade develop until Thursday or Friday. Asking prices are noted at $240 plus in the South.
Boxed beef prices are mixed: choice up $2.11 ($366.53) and select down $1.24 ($349.31) with a movement of 117 loads (75.95 loads of choice, 7.39 loads of select, 17.51 loads of trim and 16.47 loads of ground beef).
FEEDER CATTLE:
The feeder cattle complex has been one of the biggest driving factors in the cattle market's recent rally, but it is also trading lower into Wednesday's noon hour as traders have seemed to notice the immense gains the market has seen recently and want to see more fundamental support arise before they push the market any higher. November feeders are down $2.07 at $379.17, January feeders are down $1.60 at $376.40 and March feeders are down $1.17 at $374.35.
LEAN HOGS:
The lean hog market is trading higher as the futures complex has seemed to find some footing in the marketplace after plummeting lower on Wednesday. Thankfully, the market is trading further away from its support plane at $82.00, which was a concern heading into the day as traders haven't been overly supportive of the market this week. But with a little improvement in the cash market, traders feel as though the market has traded lower enough for the near term. December lean hogs are up $0.42 at $83.57, February lean hogs are up $0.30 at $84.75 and April lean hogs are up $0.35 at $89.40.
The projected lean hog index for 10/14/2025 is down $0.79 at $97.20 and the actual index for 10/13/2025 is down $0.58 at $97.99. Hog prices on the Daily Direct Morning Hog Report average $95.12, ranging from $88.00 to $98.00 on 3,668 head and a five-day rolling average of $95.95. Pork cutouts totaled 164.93 loads with 140.40 loads of pork cuts and 24.53 loads of trim. Pork cutout values: down $0.78, $102.98.
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