GENERAL COMMENTS:
After much chaos and disarray, the cattle contracts are finally trading higher as news has spread that the US does not have a date on the table for reopening the U.S.-Mexico border for cattle imports. This was the news that the market needed to hear, as the uncertainty was crippling the market. No more cash cattle trade has developed following the light business that transpired earlier in the week. December corn is up 1/4 cent per bushel and December soybean meal is up $4.40. The Dow Jones Industrial Average is up 282.69 points and the NASDAQ is up 121.34 points.
LIVE CATTLE:
The live cattle complex is finally trading higher as the market has received confirmation that, although Agriculture Secretary Brooke Rollins spoke with officials in Mexico last Friday, there is no date currently on the table to reopen the border, as New World screwworm remains a concern. This was the bullish news that the market needed to hear to trade higher following last week's catastrophic decline. December live cattle are up $4.72 at $231.37, February live cattle are up $5.92 at $230.02 and April live cattle are up $5.95 at $220.30. This positive news has helped the spot December live cattle contract turn higher, and thankfully, now the contract is trading back above the market's 100-day moving average. No new trade has developed in the fed cash cattle market, following the light business that developed Monday afternoon. So far this week, there's been some cattle traded in the North at $360, which is $9.00 lower than the previous week's weighted average. There is a chance that if the board continues to trade higher than the fed cash cattle market may see prices better than what was traded on Monday. Asking prices range anywhere from $234 to $240 in the South and are still not established in the North.
Boxed beef prices are higher: choice up $2.48 ($382.13) and select up $1.28 ($361.28) with a movement of 89 loads (54.11 loads of choice, 13.35 loads of select, 12.34 loads of trim and 9.48 loads of ground beef).
FEEDER CATTLE:
The feeder cattle complex saw the headline it needed to see to begin to put fear behind it and again trade higher. Upon receiving confirmation that the US intends to keep its border closed and does not have a date pinned down for when it intends to see the border reopened to allow Mexican cattle to be imported into the U.S., the feeder cattle complex can now again breathe easy. November feeders are up $10.95 at $344.35, January feeders are up $11.75 at $336.57 and March feeders are up $11.20 at $330.85.
LEAN HOGS:
Pork cutout values may be a tick higher, but the lean hog complex can't seem to muster up enough support to really move the contracts higher. December lean hogs are down $0.10 at $80.72, February lean hogs are down $0.07 at $82.37 and April lean hogs are down $0.22 at $86.65. The cash market will likely continue to trade lower as packers were extremely aggressive in Tuesday's market and won't likely need many more hogs ahead of the week's end.
The projected lean hog index for 10/28/2025 is down $0.17 at $91.86 and the actual index for 10/27/2025 is down $0.24 at $92.03. Hog prices are lower on the Daily Direct Morning Hog Report, down $5.13 with a weighted average price of $83.63, ranging from $82.00 to $87.00 on 2,375 head and a five-day rolling average $87.90. Pork cutouts total 184.92 loads with 153.80 loads of pork cuts and 31.12 loads of trim. Pork cutout values: up $1.28, $101.30.
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