Friday Midday Livestock Market Summary - Cattle Launch Higher as Live and Feeder Contracts Surge

GENERAL COMMENTS:

The livestock complex is trading mixed as the cattle contracts launch higher while the hog complex is mixed. Some light cash cattle trade has been reported in Nebraska at $360, which is $4.00 higher than last week's weighted average. March corn is down 2 1/4 cents per bushel and March soybean meal is down $2.70. The Dow Jones Industrial Average is up 182.66 points and NASDAQ is down 19.07 points.

LIVE CATTLE:

It's a breakout day for the live cattle complex as the market has shot above its 100-day moving average for the first time since late October. February live cattle are up $3.30 at $234.87, April live cattle are up $2.95 at $235.12 and June live cattle are up $2.90 at $229.67. More than anything, it seems to be a combination of trade support mixed with the knowingness that demand is likely only going to get stronger through the first half of the year, with traders also noting the uptick in cash cattle prices today. A few dressed sales are being reported in Nebraska at $360, which is $4.00 higher than last week's weighted average. Several majors in that state are also bidding $360, but those bids continue to be passed. A few bids are on the table in the South around $228 to $232, but they are being passed as they are below current asking prices of around $234. Packer inquiry should continue to improve as the day progresses.

Boxed beef prices are higher: choice up $1.25 ($348.70) and select up $4.56 ($346.94) with a movement of 53 loads (36.70 loads of choice, 2.70 loads of select, zero loads of trim and 13.41 loads of ground beef).

FEEDER CATTLE:

The feeder cattle complex is also sky-rocketing higher as traders note the uptick in the live cattle complex and continue to be optimistic that the market is likely going to trade stronger and stronger through at least the first quarter of 2026. January feeders are up $5.05 at $355.30, March feeders are up $6.27 at $351.60 and April feeders are up $6.82 at $351.05. Feeder cattle sales next week will likely be stronger in the countryside as well.

LEAN HOG:

The lean hog complex is trading mixed into Friday's noon hour as the nearby contracts dip lower while the deferred contracts continue to trade higher. More than anything, traders seem reluctant to do much with the contract until its fundamentals improve. February lean hogs are down $0.87 at $84.22, April lean hogs are down $0.72 at $89.20 and June lean hogs are down $0.42 at $102.45.

The projected lean hog index for 12/31/2025 is down $0.41 at $81.85, and the actual index for 12/30/2025 is up $0.01 at $82.26. Hog prices are on the Daily Direct Morning Hog Report are unavailable due to confidentiality. However, we can see that only 171 head have traded and that the market's five-day rolling average now sits at $69.40. Pork cutouts total 82.06 loads with 64.41 loads of pork cuts and 17.65 loads of trim. Pork cutout values: up $1.97, $95.71.