Wednesday Midday Livestock Market Summary - Traders Continue to Push Cattle Contracts Higher

GENERAL COMMENTS:

The livestock complex is trading mixed into Wednesday's noon hour as the cattle contracts are inching higher while the lean hog complex trades mostly lower. Still no cash cattle trade has developed. March corn is up 1 cent per bushel and March soybean meal is down $1.10. The Dow Jones Industrial Average is down 159.65 points and NASDAQ is down 60.64 points.

LIVE CATTLE:

The live cattle complex is trading higher again into Wednesday's noon hour as traders have a bullish attitude toward the marketplace as they look to 2026. February live cattle are up $1.25 at $231.72, April live cattle are up $1.27 at $232.27 and June live cattle are up $1.10 at $226.90. At this point, the spot February contract still hasn't broke through the market's resistance at its 100-day moving average, but the complex is only a mere $0.32 away from that threshold. Still no cash cattle trade has developed but asking prices are noted at $232 in the South but still remain unestablished in the North.

Boxed beef prices are lower: choice down $0.20 ($348.00) and select down $0.77 ($342.39) with a movement of 112 loads (83.32 loads of choice, 6.88 loads of select, 13.83 loads of trim and 8.95 loads of ground beef).

FEEDER CATTLE:

The feeder cattle complex continues to push higher and higher as the market sees more than enough support to justify a higher trend at this point. Between seeing the live cattle contracts trading higher and the anticipation that feeder cattle demand is going to be red hot in the first quarter of 2026 -- traders currently aren't afraid to be pushing the contracts above the market's 100-day moving average. January feeders are up $0.80 at $350.35, March feeders are up $1.02 at $345.60 and April feeders are up $0.97 at $344.40.

LEAN HOG:

The lean hog complex isn't seeing the same level of support that the cattle contracts currently are -- as earlier today the spot February contract rallied to its resistance at $86.00 only to then fall lower. February lean hogs are down $0.10 at $85.35, April lean hogs are down $0.07 at $90.10 and June lean hogs are down $0.07 at $102.90. Given that Thursday is a holiday and little interest is likely to jump into the market on Friday, it's likely the complex will close lower this afternoon and traders won't likely look to challenge the resistance until after the New Year.

The projected CME Lean Hog Index is delayed from the source. Hog prices on the Daily Direct Morning Hog Report average $69.40, ranging from $57.00 to $72.00 on 1,516 head with a five-day rolling average of $69.40. Pork cutouts total 148.06 loads with 127.42 loads of pork cuts and 20.64 loads of trim. Pork cutout values: up $0.93, $95.06.