GENERAL COMMENTS:
With more than enough support being evident throughout Monday's trade, the livestock contracts successfully rounded out the day higher. New showlists appear to be somewhat lower in Texas and even smaller in Nebraska and Kansas. May corn is down 6 1/4 cents per bushel and May soybean meal is down $0.40. The Dow Jones Industrial Average is up 29.37 points and the NASDAQ is down 186.61 points.
LIVE CATTLE:
The live cattle complex experienced another fruitful day, with the market well supported by both its fundamental and technical sectors. April live cattle closed $1.05 higher at $239.55, June live cattle closed $1.42 higher at $240.20 and August live cattle closed $1.25 higher at $237.30. More than anything, traders saw the bullish momentum rebuilt in the marketplace and wanted to keep that fire burning throughout Monday's trade. And it did help matters that last week fed cash cattle prices traded mostly steady and that boxed beef prices closed higher this afternoon.
New showlists appear to be somewhat lower in Texas and even smaller in Nebraska and Kansas. Monday's slaughter is estimated at 109,000 head, 4,000 head more than a week ago and 6,000 head more than a year ago.
Last week Northern dressed sales were marked at mostly $372, which is steady with last week's weighted average, and it wasn't until late in the day on Friday that some live cattle sales were reported in the South at $233 to $235, which is steady to $1.00 lower than the previous week's weighted average.
Boxed beef prices closed higher: choice up $1.13 ($394.10) and select up $1.14 ($391.01) with a movement of 77 loads (46.46 loads of choice, 11.60 loads of select, 10.91 loads of trim and 8.38 loads of ground beef).
TUESDAY'S CATTLE CALL: Steady to somewhat higher. The fed cash cattle market may be able to trade steady if not a tick higher again this week if boxed beef demand remains strong.
FEEDER CATTLE:
The feeder cattle complex experienced a notable rally throughout Monday's trade, as traders once again felt that there was sufficient support in the market to push the contracts higher confidently. April feeders closed $1.85 higher at $363.30, May feeders closed $1.50 higher at $361.32 and August feeders closed $1.80 higher at $359.60. At Joplin Regional Stockyards in Carthage, Missouri, compared to last week and at their midsession point, feeder steers under 475 pounds were selling $10.00 to $35.00 lower, but weights over 475 pounds were trading $5.00 to $20.00 higher. Feeder heifers were selling anywhere from $6.00 lower to $10.00 higher. Feeder cattle supply over 600 pounds was 73%. The CME feeder cattle index 3/27/2026: up $2.14, $365.12.
LEAN HOGS:
The lean hog complex closed mostly lower Monday afternoon as traders yearn to see continued fundamental support before they advance the contracts anymore. But thankfully, with how strong both pork prices and cash prices closed Monday afternoon, there's a chance that Tuesday's market will be able to trade higher. April lean hogs closed $0.30 lower at $90.47, June lean hogs closed $0.25 lower at $105.87 and July lean hogs closed $0.12 lower at $108.70. Hog prices closed higher on the Daily Direct Afternoon Hog Report, up $0.40 with a weighted average price of $90.92 on 4,015 head. Pork cutouts totaled 258.80 loads with 222.73 loads of pork cuts and 36.06 loads of trim. Pork cutout values: up $1.01, $97.57. Monday's slaughter is estimated at 496,000 head, 4,000 head more than a week ago and 35,000 head more than a year ago. The CME lean hog index 3/26/2026: down $0.28, $91.18.
TUESDAY'S HOG CALL: Higher. With pork demand up notably on Monday, there's a strong chance that the cash market will be higher on Tuesday too.
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