The livestock complex endured a dismal day where little transpired, and the contracts drifted mostly lower. No substantial developments surfaced in the fed cash cattle market, but asking prices are noted at $232 plus in the South. December corn is up 3 1/4 cents per bushel and December soybean meal is up $4.10. The Dow Jones Industrial Average is up 326.86 points and the NASDAQ is down 61.84 points.
LIVE CATTLE:It was another mostly uneventful day for the live cattle complex as the contracts closed slightly lower, unable to find the support in the marketplace that traders were hoping to see to justify trading the contracts any higher. December live cattle closed $1.92 lower at $225.27, February live cattle closed $1.42 lower at $224.97 and April live cattle closed $1.32 lower at $224.50. It's likely that the market will continue with this steady/somewhat weaker trend until traders see an uptick in the market's fundamentals, especially in either the cash market or boxed beef prices. No cash cattle trade developed throughout the day, but asking prices of $232 have been noted in the South, while they remain unestablished in the North.
Wednesday's slaughter is estimated at 122,000 head, 5,000 head more than a week ago and 2,000 head less than a year ago.
Boxed beef prices closed lower: choice down $4.77 ($374.45) and select down $0.14 ($359.94) with a movement of 183 loads (141.11 loads of choice, 24.05 loads of select, 8.72 loads of trim and 9.57 loads of ground beef).
THURSDAY'S CATTLE CALL: Steady. In order to avoid being short bought in the weeks ahead, it's likely that the fed cash cattle market will trade at least steady.
FEEDER CATTLE:The feeder cattle complex held the same weaker attitude that the live cattle market held throughout the day. Closing anywhere from $2.00 to $3.00 lower, the feeder cattle complex saw the biggest day-over-day declines in its furthest deferred months as time means risk in today's marketplace. November feeders closed $1.35 higher at $339.02, January feeders closed $1.67 lower at $327.47 and March feeders closed $2.30 lower at $321.02. At Oklahoma National Stockyards in Oklahoma City, Oklahoma, compared to last week, feeder steers and heifers traded steady to $5.00 lower. Steer calves sold $5.00 to $10.00 lower. Steer calves started the day dollars lower but improved as the day traded on. Heifer calves sold unevenly steady. Feeder cattle supply over 600 pounds was 41%. The CME feeder cattle index 11/11/2025: down $2.09, $340.67.
LEAN HOGS:The lean hog complex again fell lower as traders were disgruntled to note the decline, once again, in pork demand. December lean hogs closed $1.72 lower at $80.62, February lean hogs closed $1.70 lower at $81.52 and April lean hogs closed $1.50 lower at $85.55. The biggest reason why the afternoon carcass price fell was the $3.07 decline in the rib. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $3.34 with a weighted average price of $78.78 on 1,550 head. Pork cutouts totaled 383.31 loads with 345.40 loads of pork cuts and 37.91 loads of trim. Pork cutout values: down $1.24, $96.14. Wednesday's slaughter is estimated at 494,000 head – 1,000 head more than a week ago and 7,000 head more than a year ago. The CME lean hog index 11/10/2025: down $0.24, $89.17.
THURSDAY'S HOG CALL: Lower. Packers weren't very engaged in Wednesday's cash market and likely will only mildly participate later in the week.
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