The livestock complex again closed mostly higher Wednesday afternoon as traders remain encouraged about the marketplace, even though they aren't willing to challenge the resistance threshold. Bids of $222 live were offered throughout the day in Nebraska, but no cattle traded. March corn is down 3 3/4 cents per bushel and January soybean meal is down $0.10. The Dow Jones Industrial Average is up 497.46 points and the NASDAQ is up 77.67 points.
LIVE CATTLE:The live cattle complex maintained its higher trend through Wednesday's close, as traders remain optimistic about the complex. However, they don't seem to believe the market has enough support to break above the 100-day moving average. December live cattle closed $0.02 lower at $226.80, February live cattle closed $1.57 higher at $228.52 and April live cattle closed $1.47 higher at $228.37. Bids of $222 live were offered throughout the day in Nebraska, but no cattle traded. It's still unknown at this point what asking prices are for either region, as the countryside has been extremely quiet thus far this week.
Wednesday's slaughter is estimated at 123,000 head, 6,000 head more than a week ago and 2,000 head less than a year ago.
Boxed beef prices closed lower: choice down $1.68 ($359.36) and select down $3.15 ($344.88) with a movement of 152 loads (110.05 loads of choice, 22.94 loads of select, 6.38 loads of trim and 12.56 loads of ground beef).
THURSDAY'S CATTLE CALL: Steady/somewhat higher. Given that feedlot managers aren't seeming rushed to price their pens, I'm led to believe that prices could be steady if not somewhat higher again this week.
FEEDER CATTLE:Like the live cattle complex, the feeder cattle contracts maintained their higher position through Wednesday's end, with mostly a $1.00 to $2.00 advancement seen throughout the contracts. And, also like the live cattle complex, the feeder cattle market desires to trade higher and is seeing strong fundamental support in terms of buyer demand in the countryside, but even so, traders remain cautious to pressure the market's 100-day moving average. At Ozarks Regional Stockyards in West Plains, Missouri, compared to last week, feeder steers and heifers traded $10.00 to $20.00 higher. Steer and heifer calves sold $6.00 to $12.00 higher, with peewee calves trading as much as $20.00 to $30.00 higher. Feeder cattle supply over 600 pounds was 41%. The CME feeder cattle index 12/9/2025: down $0.47, $344.03.
LEAN HOGS:The lean hog complex rounded the day out slightly higher, encouraged by the continued support of consumer demand, but still not willing to close much beyond the market's resistance around $82.00 in the spot February contract. February lean hogs closed $0.55 higher at $82.42, April lean hogs closed $0.85 higher at $87.37 and June lean hogs closed $0.80 higher at $99.72. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $1.38 with a weighted average price of $70.05 on 5,105 head. Pork cutouts totaled 332.49 loads with 304.25 loads of pork cuts and 28.23 loads of trim. Pork cutout values: up $0.83, $97.27. Wednesday's slaughter is estimated at 490,000 head, 8,000 head more than a week ago and 7,000 head more than a year ago. The CME lean hog index 12/8/2025: up $0.05, $81.89.
THURSDAY'S HOG CALL: Lower. At this point, it's most likely that packers have fulfilled most of their needs already in the cash market.
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