The livestock complex closed mostly higher Monday afternoon as traders are pleased with the fundamental support that the market has been seeing. New showlists appear to be mixed, higher in Texas, but lower in Kansas, and Nebraska/Colorado. March corn is down 2 1/4 cents per bushel and March soybean meal is down $5.60. The Dow Jones Industrial Average is up 313.69 points and the NASDAQ is up 100.12 points.
LIVE CATTLE:The live cattle complex traded higher throughout the day as the market was thrilled to note the stronger trade that developed late last week in the fed cash cattle complex. February live cattle closed $1.12 higher at $236.02, April live cattle closed $1.07 higher at $238.00 and June live cattle closed $1.12 higher at $233.62. The market is close to reaching resistance pressure, but that didn't put a damper on the market's morale throughout Monday's trade. Do note that later this week, the Bi-Annual Cattle Inventory report is set to be released, which will disclose whether or not the US beef cowherd has been maintaining steady numbers, or if producers have been fixated on growing their cowherds. Monday's slaughter is estimated at 100,000 head, 5,000 head less than a week ago and 13,000 head less than a year ago.
Last week Southern live cattle traded at mostly $233 to $235, which is steady to $2.00 higher than the previous week's weighted average. Northern dressed cattle traded at mostly $370, which is $5.00 higher than the previous week's weighted average. And the total volume traded in the fed cash cattle market totaled 73,362 head, of which 81% (59,447 head) were committed for the market's nearby delivery, while the remaining 19% (13,915 head) were committed to the market's deferred delivery option.
Boxed beef prices closed mixed: choice down $0.02 ($368.90) and select up $4.73 ($367.12) with a movement of 97 loads (62.69 loads of choice, 11.01 loads of select, 10.22 loads of trim and 12.97 loads of ground beef).
TUESDAY'S CATTLE CALL: Higher. Given that fed cattle supplies are thin right now, feedlot managers will again aim to trade cattle higher this week.
FEEDER CATTLE:The feeder cattle complex enjoyed a modest rally throughout the day as the market was thrilled to note the strong developments last week in the fed cash cattle complex, and was willing to quickly forget about the neutral Cattle on Feed report. January feeders closed $1.90 higher at $366.70, March feeders closed $2.42 higher at $362.60 and April feeders closed $2.45 higher at $361.20. Oklahoma National Stockyards in Oklahoma City, Oklahoma, did not have their weekly sale this week as a major storm moved across much of the county last weekend, and conditions aren't expected to improve until mid-week. The CME feeder cattle index 1/23/2026: up $0.09, $363.57.
LEAN HOGS:The lean hog complex closed mostly higher as traders are pleased with the consumer support they've seen recently in the market. And what was especially supportive to note about pork prices this afternoon is that the vast majority of the major cuts closed higher, showing strong, stable demand. February lean hogs closed $0.05 lower at $88.30, April lean hogs closed $0.55 higher at $96.72 and June lean hogs closed $0.62 higher at $109.12. Pork cutouts totaled 215.89 loads with 185.94 loads of pork cuts and 29.95 loads of trim. Pork cutout values: up $1.51, $97.26. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $0.31 with a weighted average price of $83.25 on 890 head. Monday's slaughter is estimated at 426,000 head, 5,000 head more than a week ago and 55,000 head less than a year ago. The CME Lean hog index 1/22/2026: down $0.55, $83.62.
TUESDAY'S HOG CALL: Higher. Packers haven't been very aggressive in the cash market lately, but if pork demand sees stable demand, they may become more aggressive.
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