GENERAL COMMENTS:
It was a mixed day for the livestock complex as the cattle contracts plummeted upon hearing about the Tyson plant closure in Nebraska, but the lean hog contracts closed higher. Showlists are higher in all major feeding regions. December corn is down 1 3/4 cents per bushel and January soybeans are down $0.90. The Dow Jones Industrial Average is up 202.86 and the NASDAQ is up 598.93 points.
LIVE CATTLE:
Plain and simple, it was an ugly, painstaking day for the live cattle complex as the market closed limit lower. Traders took Tyson's announcement of them closing their plant in Lexington, Nebraska, and reducing their plant in Amarillo, Texas, as a bearish sign for the marketplace and consequently pulled the contracts down substantially. December live cattle closed $7.25 lower at $207.20, February live cattle closed $7.25 lower at $207.52 and April live cattle closed $7.25 lower at $207.90. Bids and asking prices are still not established, and no cattle traded throughout the day.
Monday's slaughter is estimated at 120,000 head, 4,000 head more than a week ago and 2,000 head less than a year ago.
Boxed beef prices closed lower: choice down $0.99 ($370.49) and select down $1.47 ($355.51) with a movement of 120 loads (78.72 loads of choice, 18.23 loads of select, 11.69 loads of trim and 11.61 loads of ground beef).
TUESDAY'S CATTLE CALL: Lower. Given that it's a holiday week and that the board is trading sharply lower, it's likely that the cash cattle market will trade lower again this week.
FEEDER CATTLE:
Today was another blood bath for the feeder cattle complex as the market yet again closed limit lower. Fueled by the nervousness that came upon the marketplace by Tyson's announcement, and upon seeing the live cattle contracts dive sharply lower, the feeder cattle market stood no chance at closing anything but lower this afternoon. January feeders closed $9.25 lower at $304.97, March feeders closed $9.25 lower at $297.80 and April feeders closed $9.25 lower at $296.10. At Joplin Regional Stockyards in Carthage, Missouri, compared to last week, feeder steers and heifers traded $5.00 to $20.00 lower. Feeder cattle supply over 600 pounds was 61%. The CME feeder cattle index 11/21/2025: down $3.34, $336.38.
LEAN HOGS:
The lean hog complex had a better day than the cattle contracts did as the market has not only found a little technical support but also sees the downturn in the cattle sector as potential opportunity. December lean hogs closed $0.40 higher at $78.20, February lean hogs closed $1.47 higher at $79.17 and April lean hogs closed $1.22 higher at $82.52. It will still be imperative for the market's long-term success to see pork demand increase.
Hog prices are unavailable on the Daily Direct Afternoon Hog Report because of confidentiality. However, we can see that only 1,540 head have traded and that the market's five-day rolling average now sits at $74.08. Pork cutouts totaled 304.06 loads with 255.85 loads of pork cuts and 48.21 loads of trim. Pork cutout values: up $0.35, $93.78. Monday's slaughter is estimated at 495,000 head, 1,000 head more than a week ago and 3,000 head more than a year ago. The CME lean hog index 11/20/2025: down $0.90, $84.81.
TUESDAY'S HOG CALL: Higher. Packers showed the cash hog market little interest on Monday, so it's likely that they'll be more aggressive on Tuesday.
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