GENERAL COMMENTS:
The livestock complex is trading mixed into Thursday's noon hour as the complex continues to see the cattle contracts dip lower, but the lean hog contracts are trading higher. Some light cash cattle trade has developed in the North at $358, which is $4.00 higher than last week's weighted average. March corn is up 3 1/2 cents per bushel and January soybean meal is up $1.20. The Dow Jones Industrial Average is up 105.57 points and the NASDAQ is up 308.15 points.
LIVE CATTLE:
The live cattle complex is again trading lower, as though some light cash cattle trade has been reported at higher prices again this week, traders still don't believe they possess enough well-rounded support to successfully conquer the market's 100-day moving average. This leaves the complex only one way to go, which is lower. February live cattle are down $0.90 at $228.65, April live cattle are down $0.62 at $228.50 and June live cattle are down $0.37 at $222.37. Even though packers bought the largest weekly trade volume of 2024 and 2025 last week at just over 103,000 head, fed cash cattle prices are trending a tick higher again this morning as packers are still in need of more cattle. Some light trade has been reported in the North by a regional packer at $358, which is $4.00 higher than last week's weighted average. A few more bids are on the table in parts of Kansas, but no Southern trade has developed yet. Asking prices remain firm in the South at $232 to $233, and in the North at $360 plus.
Boxed beef prices are mixed: choice up $0.95 ($357.04) and select down $2.38 ($344.05) with a movement of 46 loads ($31.77 loads of choice, 6.76 loads of select, zero loads of trim and 7.52 loads of ground beef).
FEEDER CATTLE:
Continuing to follow the direction of the live cattle complex, the feeder cattle contracts are trading lower into Thursday's noon hour. January feeders are down $0.67 at $340.85, March feeders are down $1.40 at $334.92 and April feeders are down $1.70 at $333.32. Although the market continues to see adequate fundamental support, it's likely the complex could keep with this steady/somewhat lower trend as traders don't believe this is the best time to advance the complex over a major resistance threshold with the Christmas holiday just days ahead.
LEAN HOGS:
The lean hog complex is trading mostly higher as traders are to see pork cutout values up over $2.00 higher. And with Wednesday's lower technical close, the market is no longer up against immediate resistance pressure. February lean hogs are up $0.87 at $83.87, April lean hogs are up $0.87 at $88.82 and June lean hogs are up $0.85 at $101.52.
The projected lean hog index for 12/17/2025 is up $0.01 at $83.88, and the actual index for 12/16/2025 is up $0.57 at $83.87. Pork cutouts total 98.45 loads with 78.24 loads of pork cuts and 20.21 loads of trim. Pork cutout values: up $2.18, 100.72. Hog prices on the Daily Direct Morning Hog Report average $68.27, down $1.90, ranging from $65.00 to $70.00 on 1,670 head and a five-day rolling average of $70.20.
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