GENERAL COMMENTS:
The livestock complex closed mixed, with traders simply trying to reassess where the market sits after the Christmas break. New showlists appear to be higher in Nebraska/Colorado and Texas, and somewhat higher in Kansas. March corn is down 7 3/4 cents per bushel, and March soybean meal is down $4.10. The Dow Jones Industrial Average is down 249.04 points, and the NASDAQ is down 118.75 points.
LIVE CATTLE:
The live cattle complex ended the day mixed, with the market's nearby contracts closing slightly lower while the market's deferred contracts closed slightly higher. February live cattle closed $0.67 lower at $228.97, April live cattle closed $0.17 lower at $229.52, and June live cattle closed $0.02 higher at $224.17. More than anything, it seemed as though the market's resistance at its 100-day moving remains a threshold that traders aren't willing to challenge, and so, collectively, they decided to work the nearby contracts lower. New showlists appear to be higher in Nebraska/Colorado and Texas, and somewhat higher in Kansas.
Monday's slaughter is estimated at 118,000 head -- 3,000 head less than a week ago and 4,000 head less than a year ago.
Boxed beef prices closed mixed: choice down $1.88 ($349.33) and select up $1.82 ($345.62) with a movement of 113 loads (76.64 loads of choice, 21.09 loads of select, 5.77 loads of trim and 9.53 loads of ground beef).
TUESDAY'S CATTLE CALL: Steady. Last week's negotiated cash cattle trade only saw a thin movement of 48,538 head, so it's anyone's guess this week if packers will be a tick more aggressive or if they'll hold off one more week and wait until the holidays are over to restock supply.
FEEDER CATTLE:
The feeder cattle complex rounded out the day on a higher note, as traders remain encouraged about the year ahead. It remains positive that the market continues to hold its position over its 100-day moving average regardless of what the live cattle market is doing. January feeders closed $0.82 higher at $347, March feeders closed $1.25 higher at $341.67 and April feeders closed $1.22 higher at $340.42. The CME feeder cattle index 12/26/2025: up $6.68, $356.
LEAN HOGS:
The lean hog complex closed mixed with the nearby contracts closing lower and the deferred contracts closing slightly higher. February lean hogs closed $0.05 lower at $84.47, April lean hogs closed $0.07 lower at $89.40 and June lean hogs closed $0.10 higher at $102.42. The market's resistance at $86 remains a strong plane that traders won't likely challenge unless more fundamental support forms. Hog prices again weren't disclosed on the Daily Direct Afternoon Hog Report because of confidentiality. The only thing we were able to see is that there were only 64 head traded throughout the day and that the market's five-day rolling average now sits at $68.75. Pork cutouts total 268.62 loads with 221.14 loads of pork cuts and 47.48 loads of trim. Pork cutout values: down $1.75, $95.96. Monday's slaughter is estimated at 444,000 head -- 52,000 head less than a week ago and 41,000 head less than a year ago. The CME lean hog index 12/25/2025: not available at this time.
TUESDAY'S HOG CALL: Steady. With it being a holiday-shortened kill week, it's unlikely that packers will be very aggressive in this week's market.
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