GENERAL COMMENTS:
The livestock complex is trading mixed into Tuesday's noon hour as the cattle contracts continue to surge higher while the lean hog complex keeps a mixed tone. Some bids have surfaced in the fed cash cattle market, but no cattle have traded just yet. July corn is up 4 3/4 cents per bushel and July soybean meal is down $1.80. The Dow Jones Industrial Average is up 44.13 points and NASDAQ is down 337.22 points.
LIVE CATTLE:
The live cattle complex has traded in an unwavering, upward manner Tuesday and as the noon hour nears the same bullish attitude remains. June live cattle are up $4.25 at $253.20, August live cattle are up $3.52 at $248.90 and October live cattle are up $2.90 at $243.95. More than anything it appears traders have more than enough technical support flooding the complex and there's speculation fed cash cattle prices may even trade higher later this week. It's odd to see it this early in the week, but some bids have already surfaced in the countryside; but no cattle have traded yet. Asking prices remain elusive at this point.
Boxed beef prices are lower: choice down $0.38 ($389.18) and select down $1.31 ($387.29) with a movement of 52 loads (38.43 loads of choice, 4.05 loads of select, zero loads of trim and 9.93 loads of ground beef).
FEEDER CATTLE:
With the help of the live cattle market's bullish attitude, the feeder cattle complex remains bold heading into Tuesday's noon hour as most of the contracts are $3.00 to $4.00 higher at this point. The market originally was mixed to mostly lower at the day's start, but upon seeing the live cattle contracts so bullish, the feeder cattle market changed its tune and began to trade higher as well. May feeders are up $3.50 at $370.95, August feeders are up $3.92 at $372.20 and September feeders are up $4.17 at $370.42.
LEAN HOGS:
The lean hog complex is trading mixed into Tuesday's noon hour as the market yearns to trade higher. But until traders see enough fundamental support arise in the marketplace, a mixed tone will likely remain. June lean hogs are up $0.15 at $102.32, July lean hogs are down $0.32 at $104.70 and August lean hogs are down $0.47 at $105.12. It is helpful to note that midday pork cutout values are a tick higher. It would be supportive if that trend were to continue through the day's close.
The projected CME Lean Hog Index for 4/27/2026 is down $0.07 at $91.19, and the actual index for 4/24/2026 is down $0.18 at $91.26. Hog prices are higher on the Daily Direct Morning Hog report, up $1.93 with a weighted average price of $92.25, ranging from $89.00 to $93.25 on 1,130 head and a five-day rolling average of $90.73. Pork cutouts total 156.87 loads with 142.86 loads of pork cuts and 14.01 loads of trim. Pork cutout values: up $0.72, $99.95.
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