GENERAL COMMENTS:
The livestock complex closed fully higher as traders poured support into the marketplace. Throughout the day, live cattle in the South traded at $230, which is $6.00 higher, and Northern dressed cattle traded at $355, which is $12.00 higher than last week's weighted average. March corn is up 2 1/4 cents per bushel and January soybean meal is up $0.90. The Dow Jones Industrial Average is up 646.26 points and the NASDAQ is down 60.30 points.
LIVE CATTLE:
The live cattle contracts ended the day fully higher, feeling fully supported by the gains seen in today's fed cash cattle market. December live cattle closed $3.57 higher at $230.37, February live cattle closed $2.42 higher at $230.95 and April live cattle closed $2.30 higher at $230.67. The spot February contract rallied up to the market's 100-day moving average, but the contract still didn't close above that mark. Throughout the day, some light trade was reported in the South at $230, which is $6.00 higher than last week's weighted average, and some trade was also reported in the North at $355, which is $12.00 higher than last week's weighted average.
Thursday's slaughter is estimated at 123,000 head, 2,000 head more than a week ago and 2,000 head less than a year ago.
Boxed beef prices closed lower: choice down $1.25 ($358.11) and select down $1.42 ($343.26) with a movement of 151 loads (74.03 loads of choice, 17.73 loads of select, 45.71 loads of trim and 13.42 loads of ground beef).
FRIDAY'S CATTLE CALL: Steady. Given that cattle have now traded in both regions, it's likely that the week's trend is set.
FEEDER CATTLE:
The feeder cattle complex rallied aggressively through Thursday's end, feeling empowered and well supported by the gains seen today in the fed cash cattle market, and by the continued support of feeder cattle demand in the countryside. January feeders closed $5.02 higher at $343.40, March feeders closed $4.85 higher at $337.67 and April feeders closed $4.67 higher at $336.57. At the Napoleon Livestock Auction in Napoleon, North Dakota, compared to last week, feeder steers weighing 400 to 450 pounds and steers weighing 500 to 550 pounds sold $5.00 to $8.00 lower, but steers weighing 550 to 600 pounds and steers weighing 650 to 700 pounds traded $30.00 to $32.00 higher, and steers weighing 600 to 650 pounds and steers weighing 700 to 750 pounds traded $44.00 to $47.00 higher. Feeder heifers weighing 450 to 500 pounds sold $5.00 to $10.00 lower, heifers weighing 500 to 550 pounds traded $28.00 lower and heifers weighing 550 to 600 pounds traded $12.00 to $15.00 higher. Feeder cattle supply over 600 pounds was 42%. The CME feeder cattle index 12/10/2025: up $1.44, $345.47.
LEAN HOGS:
The lean hog complex closed higher as a bullish undertone overtook the livestock complex today, and amid pork demand seeming to gain some slight strength, the market closed higher with ease. What was potentially most impressive was that the spot February contract closed well above the market's resistance at $82.00. February lean hogs closed $1.75 higher at $84.17, April lean hogs closed $1.85 higher at $89.22 and June lean hogs closed $1.17 higher at $100.90. Hog prices closed higher on the Daily Direct Afternoon Hog Report, up $1.64 with a weighted average price of $71.69, on 3,988 head. Pork cutouts totaled 285.43 loads, with 266.69 loads and 18.74 loads of trim. Pork cutout values: up $1.57, $98.84. Thursday's slaughter is estimated at 494,000 head, 4,000 head more than a week ago and 21,000 head more than a year ago. The CME lean hog index 12/9/2025: up $0.27, $82.16.
FRIDAY'S HOG CALL: Lower. Packers are likely done buying this week in the cash hog market.
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