Friday Closing Livestock Market Update - Cattle Round Out Higher; No Cash Cattle Trade Has Yet Developed

GENERAL COMMENTS:

The livestock complex closed Friday mixed with the cattle contracts continuing to rally while the hog contracts ventured lower. Still no cash cattle trade has developed at the time of this writing. May corn is down 3 cents per bushel and May soybean meal is up $14.20. The Dow Jones Industrial Average is down 269.57 points and NASDAQ is up 80.85 points.

From Thursday to Friday the livestock futures scored the following changes: April live cattle up $5.58, June live cattle up $2.88; April feeder cattle up $1.25, may feeder cattle up $1.73; April lean hogs up $0.38, June lean hogs down $0.75; May corn down $0.11, July corn down $0.12.

LIVE CATTLE:

What a day, what a day, what a day it was! Although the futures market may have closed, there's still a pile of business left to be done in the fed cash cattle market as no trades have yet been reported. There's been a few deals marked in Iowa at $250, but largely the market sits untested at the time of this writing as packers and feedlot managers go head-to-head. both obviously wanting the market to trend in different directions. Asking prices remain firm in the North at $392 to $395 and in the South at $250. Bids are currently on the table in Kansas at $246 and in Nebraska at $385 dressed. April live cattle closed $2.00 higher at $251.77, June live cattle closed $2.00 higher at $249.20 and August live cattle closed $1.40 higher at $244.75. More than anything traders held strong to the hope that fundamental support would develop later in the fed cash cattle market, as they personally seem to want the market to trend higher at this point.

Friday's slaughter is estimated at 83,000 head -- 13,000 head less than a week ago and 11,000 head less than a year ago. Saturday's slaughter is projected to be around 4,000 head. The week's total slaughter is estimated at 512,000 head -- 21,000 head less than a week ago and 51,000 head less than a year ago.

Boxed beef prices closed lower: choice down $0.19 ($380.90) and select down $0.23 ($381.34) with a movement of 84 loads (55.87 loads of choice, 5.13 loads of select, 4.82 loads of trim and 18.25 loads of ground beef).

MONDAY'S CATTLE CALL: Steady. Before we try to speculate how next week's trade may pan out, we need to see what this week's market does.

FEEDER CATTLE:

Feeder cattle futures also scaled higher through Friday's end as the market is currently seeing ample support pour into its complex. Between the strong buyer demand in the countryside and the willingness of traders to help push the contracts higher, the market was well positioned to close higher Friday afternoon. April feeders closed $1.62 higher at $374.15, May feeders closed $1.92 higher at $372.35 and August feeders closed $2.32 higher at $372.45. The Oklahoma Weekly Cattle Auction summary shared that compared to last week, feeder steers over 850 pounds traded $5.00 to $11.00 higher and steers under 850 pounds traded steady to $5.00 higher. Feeder heifers sold steady to $6.00 higher. Steer calves sold $5.00 to $10.00 stronger and heifer calves sold $3.00 to $5.00 higher. Slaughter cows sold $5.00 to $6.00 higher and slaughter bulls sold $2.00 higher. Feeder cattle supply over 600 pounds was 71%. The CME Feeder Cattle Index 4/9/2026: up $2.57, $366.67.

LEAN HOGS:

The lean hog complex ended Friday lower, simply unable to convince traders the market had enough stable support to trade higher. June lean hogs closed $0.40 lower at $103.72, July lean hogs closed $0.35 lower at $106.57 and August lean hogs closed $0.42 lower at $106.45. Hopefully, the market is beginning to find a technical bottom for its current move and can find some stability in next week's trade. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $0.56 with a weighted average price of $89.36 on 1,099 head. Pork cutouts totaled 294.96 loads with 251.12 loads of pork cuts and 43.82 loads of trim. Pork cutout values: up $1.32, $98.70. Friday's slaughter is estimated at 484,000 head -- 64,000 head more than a week ago and 8,000 head more than a year ago. Saturday's slaughter is projected to be around 148,000 head. The CME Lean Hog Index 4/8/2026: down $0.01, $90.29.