It was a mixed day for the livestock complex as the cattle contracts closed higher, but the lean hog complex closed mixed. New showlists appear to be mixed, higher in Nebraska/Colorado and Kansas, but lower in Texas. December corn is up 2 3/4 cents per bushel and December soybean meal is down $0.80. The Dow Jones Industrial Average is down 233.73 points and the NASDAQ is up 97.99 points.
LIVE CATTLE:The live cattle complex traded higher throughout the day, seeming encouraged to again have trader support willing to advance the contracts, and now traders will begin to look to the market's fundamentals to improve and indicate how much higher the contracts should trade throughout the week. December live cattle closed $2.52 higher at $232.20, February live cattle closed $2.72 higher at $230.40 and April live cattle closed $2.62 higher at $229.35. Monday's slaughter is estimated at 109,000 head, 4,000 head more than a week ago and 11,000 head less than a year ago.
Last week, Southern live cattle traded at $235 to $235.50, which is $2.50 to $4.00 lower than the previous week's weighted average. Northern dressed cattle traded at mostly $358 to $360, which is $9.00 to $11.00 lower than the previous week's weighted average. And last week's negotiated fed cash cattle trade totaled 55,948 head. Of that 75% (41,991 head) were committed to the market's nearby delivery, while the remaining 25% were committed to the market's deferred delivery option.
Boxed beef prices closed higher: choice up $1.12 ($379.25) and select up $1.28 ($359.93) with a movement of 77 loads (44.86 loads of choice, 10.33 loads of select, 6.55 loads of trim and 15.70 loads of ground beef).
TUESDAY'S CATTLE CALL: Higher. Last week fed cash cattle prices traded considerably lower, and with beef prices continuing to improve, feedlot managers may stand a chance at trading cattle a tick higher this week.
FEEDER CATTLE:The feeder cattle complex powered through the day as most of the contracts closed $5.00 to $6.00 higher. More than anything, traders seemed to collectively agree that the market is now safe to trade higher and hope that fundamental support improves throughout the week. November feeders closed $3.70 higher at $342.57, January feeders closed $4.62 higher at $336.52 and March feeders closed $5.40 higher at $332.52. At the Oklahoma National Stockyards in Oklahoma City, Oklahoma, compared to last week and at the sales mid-point, feeder steers traded $15.00 to $25.00 higher and steers calves sold $20.00 to $30.00 higher. Feeder heifers and heifer calves also traded $15.00 to $25.00 higher. The sale did note that buyers were bidding aggressively on calves today. Feeder cattle supply over 600 pounds was 50%. The CME feeder cattle index 10/31/2025: down $3.92, $343.33.
LEAN HOGS:The lean hog complex closed mixed, with the market's nearby contracts still opting to close lower as consumer demand isn't sufficient, but the deferred contracts closed slightly higher. And until the market sees a significant improvement in pork demand, the contracts will likely continue to struggle. December lean hogs closed $0.67 lower at $80.60, February lean hogs closed $0.32 lower at $82.20 and April lean hogs closed $0.12 lower at $86.10. Hog prices closed higher on the Daily Direct Afternoon Hog Report, up $0.49 with a weighted average price of $84.66 on 10,579 head. Pork cutouts totaled 295.58 loads with 256.39 loads of pork cuts and 39.19 loads of trim. Pork cutout values: down $0.30, $101.65. Monday's slaughter is estimated at 493,000 head, steady with a week ago and 5,000 head more than a year ago. The CME lean hog index 10/30/2025: down $0.34, $91.19.
TUESDAY'S HOG CALL: Steady. Packers were able to buy a sizeable volume in the Monday market, but they'll still likely need to secure more hogs before they're done buying for the week.
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