GENERAL COMMENTS:
The livestock complex is trading mixed into Monday's noon hour as the cattle contracts are scaling higher upon stronger consumer demand, but the lean hog contracts are trading lower. New showlists appear to be mixed, higher in Kansas and Nebraska/Colorado, but lower in Texas. July corn is up 2 cents per bushel and July soybean meal is up $0.50. The Dow Jones Industrial Average is up 717.04 points and NASDAQ is up 776.98 points.
LIVE CATTLE:
With the help of supportive boxed beef prices, the live cattle contracts are trading higher at the week's start and inching even closer to the market's resistance at its 40-day moving average. At this point, traders remain focused on the support stemming from strong consumer demand, but there's a possibility the contracts could soften later Monday or even later this week if not enough fundamental support arises. June live cattle are up $0.25 at $250.12, August live cattle are up $0.92 at $242.12 and October live cattle are up $1.92 at $235.72. New showlists appear to be mixed, higher in Kansas and Nebraska/Colorado, but lower in Texas.
Do note that later this week the markets will be closed on Friday, June 19 for the Juneteenth holiday, so the monthly Cattle on Feed report will be released on Thursday, June 18.
Boxed beef prices are higher: choice up $2.45 ($394.38) and select up $2.65 ($375.37) with a movement of 29 loads (22.04 loads of choice, 4.15 loads of select, zero loads of trim and 2.75 loads of ground beef).
FEEDER CATTLE:
With the support of the live cattle futures' higher trend, the feeder cattle contracts are rallying into Monday's noon hour, pushing anywhere from a $3.00 to $5.00 rally. This week is going to be a heavy hitter for the feeder cattle market as Superior's Corn Belt Classic is set to happen on June 16-17 and this will be the first real test of the summer for feeder cattle sales. With right over 73,000 head set to sell, the market will have a strong test of what feeder cattle demand is for the upcoming summer sales. August feeders are up $3.72 at $361.15, September feeders are up $4.65 at $359.20 and October feeders are up $4.85 at $355.77.
LEAN HOGS:
Meanwhile, the lean hog complex is trading mostly lower as the market desperately longs for continued support. Yes, midday pork cutout values are higher, but traders are leery of being too supportive when demand has been a mixed bag in recent weeks. July lean hogs are down $0.25 at $97.20, August lean hogs are down $0.10 at $96.22 and October lean hogs are down $1.00 at $80.37. The projected CME Lean Hog Index for 6/12/2026 is down $0.66 at $92.09, and the actual index for 6/11/2026 is down $0.15 at $92.75. Hog prices on the Daily Direct Morning Hog Report are not available because of confidentiality, however we can see that only 993 head have traded Monday morning and the market's five-day rolling average now sits at $96.85. Pork cutouts total 194.53 loads with 183.58 loads of pork cuts and 10.95 loads of trim. Pork cutout values: up $1.60, $98.99.
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