GENERAL COMMENTS:
The livestock complex is trading mostly higher into Wednesday's noon hour as both the live cattle and feeder cattle markets are fully stronger, but the lean hog complex is undecided on which way it should go. Still no trade has developed in the fed cash cattle market, and trade will likely be delayed for another day. December corn is up 3/4 cent per bushel and December soybean meal is up $1.10. The Dow Jones Industrial Average is up 179.94 points and the NASDAQ is up 187.29 points.
LIVE CATTLE:
The live cattle complex is continuing to trade higher as the market has regained some technical support and interest from traders and continues to highlight the fact that boxed beef prices have seen more support this week as well. October live cattle are up $0.42 at $233.52, December live cattle are up $0.42 at $238.15 and February live cattle are up $0.67 at $241.40. The spot December contract is nearing resistance at $241.00, which could cause the market some angst, as although support has been a tick more bountiful this week, has it really been enough to surpass resistance? Time will tell. So far, there's been no trade in the fed cash cattle market, but asking prices remain firm in the South at $235 to $237 and are still unestablished in the North. Trade will likely be delayed for another day or so.
Some of the support that the cattle complex has received early this week could also be stemming from the fact that yet another new case of New World screwworm was detected in Mexico, roughly 170 miles away from the U.S./Mexico border. And while it may seem counterintuitive for the market to trade higher upon that finding, because we could be battling NWS here domestically at any point in time, another detection does likely indicate that the border won't be reopened any time soon, which should keep feeder cattle prices elevated.
Boxed beef prices are mixed: choice up $1.40 ($367.37) and select down $3.50 ($345.38) with a movement of 87 loads (39.74 loads of choice, 18.77 loads of select, 8.75 loads of trim and 19.38 loads of ground beef).
FEEDER CATTLE:
The feeder cattle complex is powering on, full steam ahead, as the market is currently trading $2.00 to $3.00 higher into Wednesday's noon hour. October feeders are up $2.05 at $367.55, November feeders are up $2.60 at $366.90 and January feeders are up $2.65 at $361.65. So far, traders haven't seemed anxious about surpassing the market's resistance at $364, as they're continuing to drive the contracts.
LEAN HOGS:
Meanwhile, the lean hog complex is trading mixed as the market wishes consumer demand would shine through and lend some additional support to the marketplace. But with fundamental support being hard to come by, traders yearn to push the contracts higher but are doing so in a cautious manner. December lean hogs are up $0.12 at $86.32, February lean hogs are down $0.15 at $88.12 and April lean hogs are down $0.17 at $91.32.
The projected lean hog index for 10/7/2025 is down $0.72 at $100.70, and the actual index for 10/6/2025 is down $0.60 at $101.42. Hog prices on the Daily Direct Morning Hog Report average $98.06, ranging from $95.00 to $100.00 on 1,700 head and a five-day rolling average of $98.35. Pork cutouts total 227.76 loads with 172.02 loads of pork cuts and 55.74 loads of trim. Pork cutout values: down $0.77, $105.26.
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