The livestock complex closed lower Thursday afternoon as the markets are continuing to struggle to find the support they need. No new cash cattle trade developed throughout the day, but packers will need to purchase more cattle on Friday to avoid being short bought. December corn is down 6 1/2 cents per bushel and December soybean meal is down $12.10. The Dow Jones Industrial Average is down 398.70 points and the NASDAQ is down 445.81 points.
LIVE CATTLE:It was another disappointing day for the live cattle complex as the market simply can't seem to catch its footing. Right when you think the market is finding some stability, another inclining, or rumor, or some sort of heightened emotion hits the market broadside and sends the contracts back lower. And without anything substantial developing in the market's fundamentals, the contracts have simply been left to trade lower. December live cattle closed $1.75 lower at $218.77, February live cattle closed $1.37 lower at $216.75 and April live cattle closed $0.87 lower at $216.70. Bids were offered throughout the day in the fed cash cattle market, but no new trade developed following Wednesday's light business. On Wednesday, Northern dressed cattle traded at $360, which is $2.00 higher than last week's weighted average, but Southern live cattle traded at $232, which is $4.00 lower than last week's weighted average.
Thursday's slaughter is estimated at 112,000 head, 2,000 head less than a week ago and 12,000 head less than a year ago.
Boxed beef prices closed mixed: choice down $0.29 ($377.97) and select up $0.51 ($360.76) with a movement of 129 loads (96.76 loads of choice, 14.17 loads of select, 7.47 loads of trim and 11.10 loads of ground beef).
FRIDAY'S CATTLE CALL: Steady to somewhat lower. Although packers bought some cattle earlier this week, they'll still need to secure more supply ahead of the week's end.
FEEDER CATTLE:The feeder cattle complex also traded lower throughout the day, unable to convince traders that the market is a safe and sound environment and that stronger trade would be wise. With still there being an essence of instability looming throughout the futures complex, the market simply isn't finding the support it longs for. November feeders closed $3.67 lower at $322.05, January feeders closed $4.37 lower at $315.60 and March feeders closed $4.67 lower at $311.00. At the Clovis Livestock Auction in Clovis, New Mexico, compared to last week, steer calves weighing 300 to 400 pounds traded $5.00 to $15.00 lower, while steers weighing 400 to 450 pounds traded $5.00 higher, steers weighing 450 to 550 pounds traded $5.00 to $35.00 lower and steers weighing 550 to 600 pounds sold $8.00 higher. Yearling steers weighing 600 to 800 pounds sold $2.00 to $21.00 lower. Feeder cattle supply over 600 pounds was 31%. The CME feeder cattle index 11/5/2025: down $1.60, $347.82.
LEAN HOGS:The lean hog complex also closed lower as consumer demand continues to remain unsupportive. December lean hogs closed $1.62 lower at $78.97, February lean hogs closed $1.15 lower at $79.85 and April lean hogs closed $0.97 lower at $83.90. The biggest reason why the carcass wasn't able to close higher this afternoon is that the rib closed $3.48 lower. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $1.69 with a weighted average price of $84.31 on 1,552 head. Pork cutouts totaled 278.98 loads with 238.80 loads of pork cuts and 40.18 loads of trim. Pork cutout values: down $0.36, $97.18. Thursday's slaughter is estimated at 477,000 head, steady with a week ago and 11,000 head less than a year ago. The CME lean hog index 11/4/2025: down $0.04, $90.86.
FRIDAY'S HOG CALL: Lower. At this point, packers have likely fulfilled the vast majority of their cash needs for the week.
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