GENERAL COMMENTS:
The livestock complex closed mixed with the cattle contracts ending the day weaker while the hog contracts kept their momentum through the day's end. Still no cash cattle trade has developed, and the market won't likely see any cattle trade until Thursday or Friday. May corn is up 1 3/4 cents per bushel and July soybean meal is down $0.00. The Dow Jones Industrial Average is down 293.18 points and NASDAQ is down 144.43 points.
LIVE CATTLE:
The big news that broke Tuesday morning for the cattle complex was that, yet another confirmed case of New World screwworm was detected in northern Mexico, just 60 miles from the Texas border. Unfortunately this news affected the complex through Tuesday's close as the live cattle contracts closed anywhere from $1.00 to $2.00 lower. April live cattle closed $2.17 lower at $247.42, June live cattle closed $2.52 lower at $243.55 and August live cattle closed $1.90 lower at $239.70. With supplies of lean beef remaining inherently thin, this afternoon, select prices closed higher than choice prices again. No cash cattle trade developed throughout the day, but a single bid of $246 was offered in Kansas. Asking prices remain elusive at this point and trade will likely be delayed until Thursday or Friday.
Tuesday's slaughter is estimated at 111,000 head -- 1,000 head less than a week ago and 10,000 head less than a year ago.
Boxed beef prices closed higher: choice up $2.62 ($386.18) and select up $3.59 ($387.20) with a movement of 111 loads (82.24 loads of choice, 6.51 loads of select, 8.39 loads of trim and 13.59 loads of ground beef).
WEDNESDAY'S CATTLE CALL: Steady to somewhat lower. With the board's weakness, prices may trade steady at best this week.
FEEDER CATTLE:
The feeder cattle complex followed the direction of the live cattle market through Tuesday's end as the contracts closed fully lower. April feeder cattle closed $2.30 lower at $366.57, May feeders closed $2.55 lower at $358.55 and August feeders closed $2.40 lower at $358.95. At Oklahoma National Stockyards in Oklahoma City, Oklahoma, compared to last week feeder steers traded mostly steady, but steers weighing 900 to 1,000 pounds traded $2.00 to $4.00 lower. Feeder heifers sold $2.00 to $4.00 lower. Steer and heifer calves sold unevenly steady. Demand remains good, but buyers were a little more picky. Feeder cattle supply over 600 pounds was 67%. The CME feeder cattle index 4/20/2026: down $1.32, $374.37.
LEAN HOGS:
The lean hog complex had a powerful day as its contracts found support and were able to close higher through Tuesday's end. June lean hogs closed $1.47 higher at $103.20, July lean hogs closed $1.22 higher at $105.22 and August lean hogs closed $1.12 higher at $105.12. Pork cutout values closed slightly lower, but thankfully the support of traders was enough to keep the contracts higher through the day's closing bell. Hog prices closed higher on the Daily Direct Afternoon Hog report, up $0.52 with a weighted average price of $92.65 on 5,060 head. Pork cutouts total 325.14 loads with 283.06 loads of pork cuts and 42.08 loads of trim. Pork cutout values: down $0.86, $99.34. Tuesday's slaughter is estimated at 496,000 head -- 5,000 head more than a week ago and 14,000 head more than a week ago. The CME lean hog index 4/16/2026: down $0.14, $90.37.
WEDNESDAY'S HOG CALL: Steady. Packers may still need a few more hogs, which could keep the market steady through Wednesday's trade.
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