Monday Midday Livestock Market Summary - Cattle Futures Inch Higher, While Hogs Remain Hesitant

GENERAL COMMENTS:

The livestock complex is trading mixed into Monday's noon hour as the cattle futures inch higher but the lean hog contracts are still stuck trading lower. New showlists appear to be mixed -- higher in Texas, somewhat higher in Nebraska/Colorado, and lower in Kansas. July corn is down 5 1/4 cents per bushel and July soybean meal is down $3.40. The Dow Jones Industrial Average is down 194.35 points and NASDAQ is up 89.21 points.

LIVE CATTLE:

The live cattle complex is trading mildly higher into Monday's noon hour as traders are pleased to at least see midday boxed beef prices higher. More than anything, traders need to see continued fundamental support if they're going to successfully move the contracts higher this week. June live cattle are up $0.45 at $248.70, August live cattle are up $0.82 at $239.87 and October live cattle are up $1.20 at $231.62. The spot August contract is still trading below its 40-day moving average, which will remain a difficult threshold for traders to move past without sufficient fundamental support. It is also worth noting that over the weekend there was another case of New World screwworm found just 31 miles away from the U.S./Mexico border in sheep. New showlists appear to be mixed, higher in Texas, somewhat higher in Nebraska/Colorado, and lower in Kansas.

Last week Southern live cattle traded at mostly $256 to $257, which is $4.00 to $5.00 lower than the previous week's weighted average, and Northern dressed cattle traded at $405 to $408, which is $2.00 to $5.00 lower than the previous week's weighted average.

Boxed beef prices are higher: choice up $2.63 ($394.10) and select up $0.66 ($383.84) with a movement of 34 loads (20.55 loads of choice, 3.81 loads of select, 4.10 loads of trim and 5.25 loads of ground beef).

FEEDER CATTLE:

Upon seeing the live cattle contracts trading higher, the feeder cattle contracts have also jumped higher -- pleased to take any support the market can attract at this point. August live cattle are up $2.65 at $350.97, September feeders are up $2.50 at $347.85 and October feeders are up $2.22 at $344.25. As long as the live cattle contracts continue to trade higher, the feeder cattle contracts will likely follow in the same direction.

LEAN HOGS:

One would hope traders would look at the continued support of consumers -- as the midday pork cutout value is higher -- and begin to show the lean hog contracts some support. But that isn't how the market is trading this morning as most of the lean hog contracts are lower heading into Monday's noon hour. June lean hogs are down $0.67 at $95.17, July lean hogs are up $0.57 at $100.05 and August lean hogs are down $0.52 at $97.82. The projected CME Lean Hog Index for 5/29/2026 is down $0.04 at $91.36 and the actual index for 5/28/2026 is up $0.48 at $91.40. Hog prices are higher on the Daily Direct Morning Hog Report, up $1.01 with a weighted average price of $93.83, ranging from $87.00 to $95.00 on 380 head and a five-day rolling average of $94.17. Pork cutouts total 222.25 loads with 194.92 loads of pork cuts and 27.33 loads of trim. Pork cutout values: up $1.24, $100.69.