GENERAL COMMENTS:
All in all, it was a successful day for the livestock complex as all three of the markets closed higher. No cash cattle trade developed throughout the day and there's a chance trade could be delayed until after Friday's Cattle on Feed report. May corn is steady and May soybean meal is down $0.50. The Dow Jones Industrial Average is up 46.85 points and NASDAQ is up 105.35 points.
LIVE CATTLE:
The live cattle complex continued to trail higher throughout Tuesday as more than enough technical support was evident throughout the day. The market continues to trade comfortably between the 100-day and 40-day moving averages and that's where most of the contracts found themselves at Tuesday's close. April live cattle closed $1.97 higher at $235.22, June live cattle closed $1.82 higher at $233.70 and August live cattle closed $1.65 higher at $231.32. It is anyone's call at this point what's going to happen in this week's fed cash cattle market. However, it is helpful from a fundamental standpoint that boxed beef prices are trading higher which is again a product of limited supply and now being exacerbated by the reduction in throughout as the strike continues in Colorado and as a couple other plants have cut production this week for cooler cleanings. No trade has developed in the fed cash cattle market yet and could be delayed until after Friday's Cattle on Feed report.
Tuesday's slaughter is estimated at 109,000 head -- 1,000 head more than a week ago and 13,000 head less than a year ago.
Boxed beef prices closed higher: choice up $0.65 ($403.31) and select up $2.21 ($396.72) with a movement of 107 loads (78.86 loads of choice, 7.40 loads of select, 9.44 loads of trim and 10.93 loads of ground beef).
WEDNESDAY'S CATTLE CALL: Steady. Some are speculating cash cattle prices could be higher this week as packer margins have improved, but time will tell.
FEEDER CATTLE:
The feeder cattle complex also closed higher Tuesday afternoon as traders were pleased to not only see the uptick in the live cattle market, but to also see improved demand in the countryside for feeders. March feeders closed $4.35 higher at $359.80, April feeders closed $4.95 higher at $354.80 and May feeders closed $5.07 higher at $350.62. At Joplin Regional Stockyards in Carthage, Missouri, compared to last week feeder steers under 650 pounds traded $10.00 to $30.00 higher but the heavier weights traded anywhere from $5.00 lower to $12.00 higher. The CME Feeder Cattle Index 3/16/2026: up $1.26, $358.31.
LEAN HOGS:
The lean hog complex ended the day stronger as traders finally threw the market a bone and let it close higher after a consistent downward spiral. Unfortunately, it's tough to say whether the market will be able to maintain a stronger trend into Wednesday market as, yes cash prices were higher and packers were more aggressive in the cash sector, but pork cutout values closed lower. April lean hogs closed $0.22 higher at 93.72, June lean hogs closed $0.52 higher at $107.77 and July lean hogs closed $0.47 higher at $109.80. Hog prices closed higher on the Daily Direct Afternoon Hog Report, up $1.45 with a weighted average price of $92.18 on 9,597 head. Pork cutouts totaled 270.03 loads with 253.79 loads of pork cuts and 16.24 loads of trim. Pork cutout values: down $0.55, $99.89. Tuesday's slaughter is estimated at 496,000 head -- 1,000 head more than a week ago and 5,000 head more than a year ago. The CME Lean Hog Index 3/13/2026: up $0.16, $91.76.
WEDNESDAY'S HOG CALL: Steady. Packers were more aggressive in Tuesday's market and whether they need more inventory will dictate price.
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