Friday Midday Livestock Market Summary - Cattle Inch Higher, Hogs Scale Lower

GENERAL COMMENTS:

The livestock complex is trading mixed into midday Friday, with the cattle contracts having found a little more support, but the lean hog contracts are still trading lower. No new cash cattle trade has developed, and it's likely the bulk of this week's trade is done. December corn is down 1/2 cent per bushel and December soybean meal is steady. The Dow Jones Industrial Average is down 260.42 points and the NASDAQ is down 362.03 points.

LIVE CATTLE:

After another downward waning week, where the market traded lower and lacked enough support in either realm (technical or fundamental), the live cattle contracts are finally trading a bit higher as traders have seemed to deem that the market has traded lower enough for the week. December live cattle are up $1.50 at $220.30, February live cattle are up $1.10 at $217.92 and April live cattle are up $1.07 at $217.77. No new cash cattle trade has developed throughout the day, and at this point, it's looking like the bulk of the week's trade could essentially be done with. So far this week, Northern dressed cattle have traded mostly at $355 to $362, with most at $360, which is $2.00 higher than last week's weighted average. Southern live cattle traded at mostly $232, which is $4.00 lower than the previous week's weighted average.

Boxed beef prices are mixed: choice down $0.54 ($377.43) and select up $1.44 ($362.20) with a movement of 101 loads (75.65 loads of choice, 9.99 loads of select, 3.55 loads of trim and 12.11 loads of ground beef).

FEEDER CATTLE:

Although still cautious, the feeder cattle complex is trading slightly higher into Friday's noon hour, seeming to follow in the same direction as the live cattle market. November feeders are up $1.30 at $323.35, January feeders are up $0.17 at $315.72 and March feeders are down $0.10 at $310.90. Sales are still feeling a heightened level of anxiousness in the countryside, as a lower trend has been noted for the week in most classes.

LEAN HOGS:

Yes, pork cutout values may be higher this morning -- up over $2.00 higher -- but it's a little too late to have much effect on the market this week, as traders haven't seen true support and stability from consumers to feel safe in trading the contracts higher. December lean hogs are up $0.47 at $79.45, February lean hogs are down $0.15 at $79.67 and April lean hogs closed $0.17 lower at $83.72. It's likely that this lower trend will continue through the day's end.

The projected lean hog index for 11/6/2025 is down $0.87 at $89.73, and the actual index for 11/5/2025 is down $0.26 at $90.60. Hog prices are lower on the Daily Direct Morning Hog Report, down $0.19 with a weighted average price of $84.48, ranging from $77.00 to $85.00 on 546 head and a five-day rolling average of $84.65. Pork cutouts total 205.85 loads with 191.55 loads of pork cuts and 14.30 loads of trim. Pork cutout values: up $2.57, $99.75.