GENERAL COMMENTS:
Livestock contracts fell lower ahead of Friday's close, as traders weren't willing to extend their positions into the weekend. No new cash cattle trade developed throughout the day. July corn is up 5 1/2 cents per bushel and July soybean meal is up $0.40. The Dow Jones Industrial Average is down 152.87 points and the NASDAQ is up 222.13 points.
From Friday to Friday, livestock futures scored the following changes: June live cattle up $7.78, August live cattle up $6.18; May feeder cattle up $10.50, August feeder cattle up $10.40; June lean hogs down $0.63, July lean hogs down $1.53; May corn up $0.13, July Corn up $0.17.
LIVE CATTLE:
The live cattle complex ended the day lower as traders let the contracts drift into the weekend following a robust week of new highs -- new highs scored on the futures contracts, and new highs reached in the fed cash cattle market. June live cattle closed $1.00 lower at $253.00, August live cattle closed $0.85 lower at $247.82 and October live cattle closed $1.02 lower at $242.45. No new cash cattle trade developed throughout the day. So far this week, trade has had a fairly wide range, with Northern dressed trade done at $392 to $405, mostly $400, $14 higher than the previous week's weighted averages. Southern live deals have had a range of $250 to mostly $255 to $256, $9 to $10 higher than the prior week's weighted averages.
Friday's slaughter is estimated at 90,000 head, 3,000 head less than a week ago and 1,000 head more than a year ago. Saturday's slaughter is projected to be around 10,000 head. The week's total slaughter is estimated to be around 534,000 head, 5,000 head more than a week ago and 28,000 head less than a year ago.
Boxed beef prices closed lower: choice down $0.41 ($389.11) and select down $1.12 ($387.05) with a movement of 57 loads (36.29 loads of choice, 3.56 loads of select, 6.64 loads of trim and 10.50 loads of ground beef).
MONDAY'S CATTLE CALL: Steady. Without knowing exactly how many cattle traded this week, it's a tough call to try to anticipate how next week's trade could pan out following this week's record-breaking prices.
FEEDER CATTLE:
The feeder cattle contracts fell lower ahead of Friday's end as the complex simply followed in the live cattle market's direction. May feeders closed $1.25 lower at $371.40, August feeders closed $1.35 lower at $372.17 and September feeders closed $1.27 lower at $370.70. The Oklahoma Weekly Cattle Auction Summary shared that compared to last week and throughout the entire state, feeder steers over 800 pounds traded $5.00 to $10.00 higher, but steers under 800 pounds sold steady to $5.00 lower. Feeder heifers traded $4.00 to $10.00 higher. Steer calves sold mostly steady but heifer calves traded $2.00 to $6.00 higher. The sale report specifically shared that, "when cash slaughter trade hit 255.00 and 400.00 in the meat, demand for feeders went through the roof. Grass accounts have definitely been filled as lighter-weight feeders cheapened up. More un-weaned calves continue to come to town and demand is moderate to good for those." Feeder cattle supply over 600 pounds was 77%. The CME feeder cattle index 4/30/2026: up $1.56, $374.03.
LEAN HOGS:
The lean hog contracts also ended the day lower as traders simply weren't willing to fight the day and try to push the contracts higher following a week of mixed fundamental messages. June lean hogs closed $1.00 lower at $101.27, July lean hogs closed $1.67 lower at $103.37 and August lean hogs closed $1.60 lower at $103.85. And until traders see a vast improvement from the market's overall demand, a sideways trend is the best-case scenario. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $0.10 with a weighted average price of $92.54 on 1,314 head. Pork cutouts totaled 314.04 loads with 280.32 loads of pork cuts and 33.72 loads of trim. Pork cutout values: up $0.83, $97.59. Friday's slaughter is estimated at 461,000 head, 24,000 head less than a week ago and 15,000 head less than a year ago. Saturday's slaughter is projected to be around 45,000 head. The CME lean hog index 4/29/2026: up $0.10, $91.41.
MONDAY'S HOG CALL: Lower. Packers rarely dive aggressively in the cash hog market on Mondays.
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