GENERAL COMMENTS:
The livestock complex is trading lower into Thursday's noon hour as traders simply aren't seeing enough fundamental support in the marketplace. A few sales have developed in the fed cash cattle market in the North, but not enough to say that a trend has been established. However, a sizeable volume has sold in the South at $282, which is $3.00 lower than last week's weighted average. December corn is up 2 3/4 cents per bushel and December soybean meal is up $7.20. The Dow Jones Industrial Average is down 369.28 points and NASDAQ is down 388.47 points.
LIVE CATTLE:
With some light trade in the South developing at $282 (which is $3.00 lower than last week's weighted average), combined with seeing boxed beef prices trading lower too -- it comes as no real surprise that the live cattle contracts are trading lower into Thursday's noon hour. December live cattle are down $2.85 at $222.42, February live cattle are down $2.70 at $222.27 and April live cattle are down $2.85 at $221.65. And some extremely light sales have just been reported in Nebraska at $351, but not enough cattle have traded to say that any sort of a trend has been established this week. Without fundamental support rising to comfort traders, it's likely that a downward trend will remain with the market at least today, and potentially into Friday as well.
Boxed beef prices are lower: choice down $0.28 ($374.17) and select down $2.14 ($357.80) with a movement of 70 loads (45.75 loads of choice, 8.54 loads of select, 7.68 loads of trim and 7.67 loads of ground beef).
FEEDER CATTLE:
With the fundamentals in the live cattle complex not helping boost bullish sediment, the feeder cattle contracts are once again left to trade lower. November feeders are up $0.87 at $339.90, January feeders are down $5.00 at $322.47 and March feeders are down $5.92 at $315.10. And until the live cattle complex finds some support, it's likely that the feeder cattle market will continue to trade lower in its shadow.
LEAN HOGS:
With there not being much interest in the cash market and pork cutout values are lower too, the lean hog complex is also trading lower into Thursday's noon hour. December lean hogs are down $2.05 at $78.57, February lean hogs are down $2.47 at $79.05 and April lean hogs are down $2.40 at $83.15. And until there's an improvement in the market's fundamentals, mainly from consumers in the form of stronger pork cutout values, it's unlikely that the market will find much upward potential.
The projected lean hog index for 11/12/2025 is down $0.30 at $88.83, and the actual index for 11/11/2025 is down $0.04 at $89.13. Hog prices are lower on the Daily Direct Morning Hog Report, down $1.21 with a weighted average price of $80.36, ranging from $72.00 to $83.00 on 755 head with a five-day rolling average of $83.32. Pork cutouts total 175.94
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