GENERAL COMMENTS:
The livestock complex closed mixed, with the lean hog contracts closing a touch stronger, while the cattle contracts fell lower. The biggest news of the day, however, was the fact that some cash cattle trade developed in the North at $358, which is $4.00 higher than last week's weighted average. March corn is up 4 cents per bushel and January soybean meal is up $0.20. The Dow Jones Industrial Average is up 65.88 points and the NASDAQ is up 313.04 points.
LIVE CATTLE:
The live cattle complex kept with its lower trend through the day's end, even though some positive developments formed in the fed cash cattle market. February live cattle closed $1.15 lower at $228.40, April live cattle closed $0.97 lower at $228.15 and June live cattle closed $0.65 lower at $222.10. In the North, some light trade was noted in parts of Nebraska where cattle traded for $358, which is $4.00 higher than last week's weighted average. Still no Southern cattle have traded. Asking prices in the South remain firm at $232 to $233, and in the North at $360 plus. Traders simply can't break through the market's resistance at the 100-day moving average, as traders don't believe that right now is the right time to break through that significant of a barrier.
Thursday's slaughter is estimated at 123,000 head, steady with a week ago and 2,000 head more than a year ago.
Boxed beef prices closed mixed: choice up $1.19 ($357.28) and select down $2.46 ($343.97) with a movement of 89 loads (63.40 loads of choice, 10.73 loads of select, zero loads of trim and 14.44 loads of ground beef).
FRIDAY'S CATTLE CALL: Steady to somewhat higher. The market has shown that packers still need more cattle and that they're willing to pay more money for them.
FEEDER CATTLE:
The feeder cattle complex followed the direction of the live cattle markets and ended the day fully lower. January feeders closed $1.25 lower at $340.27, March feeders closed $1.72 lower at $334.60 and April feeders closed $1.85 lower at $333.17. The market will likely keep with this steady to lower trend until after the holidays pass and until there's a sure-fire rally from both traders and the market's fundamentals.
LEAN HOGS:
The lean hog complex was able to rally through Thursday's end as the market regained an opportunity to trade higher with Wednesday's weaker close. With the contract no longer being up against immediate resistance pressure, traders felt safe mildly advancing the contracts. February lean hogs closed $1.12 higher at $84.12, April lean hogs closed $1.00 higher at $88.95 and June lean hogs closed $0.92 higher at $101.60. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $1.06 with a weighted average price of $68.65 on 2,155 head. Pork cutouts totaled 240.60 loads with 207.68 loads of pork cuts and 32.92 loads of trim. Pork cutout values: down $0.02, $98.54. Thursday's slaughter is estimated at 495,000 head, 1,000 head more than a week ago and 10,000 head more than a year ago. The CME lean hog index 12/16/2025: up $0.57, $83.87. The CME lean hog index 12/17/2025: up $0.26, $350.05.
FRIDAY'S HOG CALL: Lower. At this point, it's most likely that packers have bought the vast majority of their needs for the week.
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