GENERAL COMMENTS:
The cattle complex continues to move higher Tuesday as traders are optimistic about demand early in 2026 and know fed cash cattle supplies will be thin. Still no cash cattle trade has developed. March corn is up 2 cents per bushel and March soybean meal is up $0.60. The Dow Jones Industrial Average is up 376.81 points and NASDAQ is up 81.98 points.
LIVE CATTLE:
The live cattle complex continues to charge onward as traders remain enthusiastic about what's to come in 2026. After breaking through the market's resistance at its 100-day moving average, we have accomplished a big technical feat and so far this week contracts charge on with gusto. It will be vital for the market's long-term potential that fundamental support arises -- especially in the form of cash cattle prices. It's been too early in the week for any cash cattle trade to have developed, and at this point bids and asking prices remain elusive. February live cattle are up $0.25 at $236.10, April live cattle are up $0.02 at $236.82 and June live cattle are up $0.15 at $231.57.
Boxed beef prices are lower: choice down $0.51 ($353.19) and select down $0.69 ($350.81) with a movement of 90 loads (66.54 loads of choice, 11.06 loads of select, 3.94 loads of trim and 8.42 loads of ground beef).
FEEDER CATTLE:
With the additional help of seeing the live cattle contracts trading higher, the feeder cattle complex continues to make substantial moves higher throughout the futures complex. Noting some of the feeder cattle sales that took place on Monday, prices were mostly higher on both feeders and calves. January futures are up $2.05 at $361.02, March feeders are up $2.20 at $357.77 and April feeders are up $1.92 at $356.82.
LEAN HOGS:
Although the lean hog complex desires to trade higher, the market is cautious to do so as it's traded exponentially higher in recent days and consumer support isn't currently showing to be as strong as traders had hoped. February lean hogs are down $0.20 at $85.95, April lean hogs are up $0.25 at $91.75 and June lean hogs are down $0.02 at $104.25.
The projected CME Lean Hog Index for 1/5/2026 is down $0.08 at $81.54, and the actual index for 1/2/2026 is down $0.23 at $81.62. Hog prices are again unavailable on the Daily Direct Morning Hog Report because of confidentiality. However we can see that only 183 head have traded and that the market's five-day rolling average now sits at $69.40. Pork cutouts totaled 246.35 loads with 211.19 loads of pork cuts and 25.16 loads of trim. Pork cutout values: down $1.49, $92.35.
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