GENERAL COMMENTS:
The livestock complex rounded out the week on a lower note as traders simply weren't confident the market actually possessed enough support to push the contracts any other direction other than lower. Some light cash cattle trade developed throughout Friday but prices held mostly steady with Thursday's trade. May corn is up 1/4 cent per bushel and May soybean meal is down $0.90. The Dow Jones Industrial Average is up 868.71 points and NASDAQ is up 365.78 points.
From Friday to Friday, livestock futures scored the following changes: April live cattle down $1.82, June live cattle down $1.85; April feeder cattle down $2.82, May feeder cattle down $7.07; June lean hogs down $2.68, July lean hogs down $2.90; May corn up $0.08, July corn up $0.06.
LIVE CATTLE:
All in all it was a disappointing day for the live cattle complex -- except for this afternoon's Cattle on Feed report which was found to be mostly bullish, as anticipated. Click here to read DTN's full Cattle on Feed comments: .
But with the cash market trading steady to $1.00 lower this week, traders simply didn't find enough support in Friday's market -- or really even in this week's market -- to hold the complex from trading lower into the weekend. April live cattle closed $0.35 lower at $249.95, June live cattle closed $0.27 lower at $247.35 and August live cattle closed $0.25 lower at $242.82. Throughout the week, Southern live cattle traded at mostly $248, which is steady with last week's weighted average. Northern dressed cattle traded at mostly $388, which is steady to $1.00 lower than the previous week's weighted average.
Friday's slaughter is estimated at 77,000 head -- 6,000 head less than a week ago and 13,000 head less than a year ago. Saturday's slaughter is projected to be around 8,000 head. The week's total slaughter is estimated at 514,000 head -- 2,000 head more than a week ago and 63,000 head less than a year ago.
Boxed beef prices closed lower: choice down $0.51 ($381.06) and select down $1.88 ($376.60) with a movement of 92 loads (75.40 loads of choice, 4.72 loads of select, 6.06 loads of trim and 5.67 loads of ground beef).
MONDAY'S CATTLE CALL: Steady to somewhat lower. With packers able to get more cattle committed to them and for mostly steady prices, feedlot managers are going to have a tougher time getting the market to trade higher when packers are gaining leverage.
FEEDER CATTLE:
The feeder cattle complex also closed lower Friday as traders simply weren't willing to advance the market while the live cattle contracts sank lower and the fed cash cattle market held steady. April feeder cattle closed $1.75 lower at $371.32, May feeders closed $1.82 lower at $365.27 and August feeders closed $2.85 lower at $365.67. The Oklahoma Weekly Cattle Auction Summary shared that compared to last week feeder steers traded steady to $5.00 higher and feeder heifers traded $2.00 to $4.00 higher. Steer and heifer calves traded unevenly steady. Slaughter cows sold $1.00 to $5.00 lower, but lean cows traded $10.00 higher. Slaughter bulls traded steady. The feeder cattle supply over 600 pounds was 75%. The CME Feeder Cattle Index 4/16/2026: down $1.42, $377.67.
LEAN HOGS:
The lean hog complex closed lower as the futures complex was never able to gain the support it needed this week to turn the market's direction. June lean hogs closed $0.62 lower at $101.05, July lean hogs closed $0.67 lower at $103.67 and August lean hogs closed $0.67 lower at $103.90. Hopefully next week traders will give more merit to the uptick in pork demand and the market may be able to form some sort of a technical bottom for this current move. Hog prices closed higher on the Daily Direct Afternoon Hog report, up $0.12 with a weighted average price of $90.28 on 1,738 head. Pork cutouts totaled 307.47 loads with 277.32 loads of pork cuts and 30.14 loads of trim. Pork cutout values: up $2.52, $99.20. Friday's slaughter is estimated at 457,000 head -- 27,000 head less than a week ago and 66,000 head more than a year ago. Saturday's slaughter is projected to be around 77,000 head. The CME Lean Hog Index 4/15/2026: up $0.06, $90.66.
MONDAY'S HOG CALL: Lower. Packers rarely dive wildly into the cash hog market on Mondays.
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