Tuesday Closing Livestock Market Update - Following Monday's Regression, Cattle Were Able to Rally

GENERAL COMMENTS:

The livestock complex ended the day mixed as traders helped mildly support the cattle contracts, but weren't willing to lend any support to the hog contracts. Bids of $403 were offered throughout the day in Nebraska, but no cattle traded. July corn is up 3/4 cent per bushel and July soybean meal is steady. The Dow Jones Industrial Average is up 86.10 points and the NASDAQ is down 250.84 points.

LIVE CATTLE:

The live cattle complex ended the day higher as traders felt comfortable mildly advancing the contracts following Monday's regression. Today's traders' decision to advance the contracts felt somewhat effortless as they were no longer up against immediate resistance pressure and could do so in a modest manner, which would pose any significant technical ramifications. June live cattle closed $1.50 higher at $248.02, August live cattle closed $2.97 higher at $239.70 and October live cattle closed $2.77 higher at $232.12. Throughout the day, bids of $403 were offered in Nebraska, but no cattle traded. Asking prices of $258 to $260 were noted in Texas, but no cattle traded. 

Tuesday's slaughter is estimated at 109,000 head -- 1,000 head less than a week ago and 9,000 head less than a year ago.

Boxed beef prices closed mixed: choice up $0.70 ($392.90) and select down $1.16 ($376.93) with a movement of 138 loads (111.10 loads of choice, 16.76 loads of select, zero loads of trim and 10.41 loads of ground beef).

WEDNESDAY'S CATTLE CALL: Steady. If the board remains supportive, feedlot managers may be able to hold the market steady unless packers feel confident about the volume of cattle they have placed around them.

FEEDER CATTLE:

Thanks to the added technical support of the live cattle market's higher trend, and the strong demand in the countryside seen early this week, the feeder cattle contracts were also able to close higher. August feeders closed $3.45 higher at $354.15, September feeders closed $3.25 higher at $350.70 and October feeders closed $3.12 higher at $346.90. At the Joplin Regional Stockyards in Carthage, Missouri, compared to last week, feeder steers traded steady to $10.00 higher and feeder heifers sold $5.00 to $18.00 higher. Feeder cattle supply over 600 pounds was 71%. The CME feeder cattle index 6/8/2026: up $1.19, $368.20.

LEAN HOGS:

The lean hog complex struggled throughout all of Tuesday's trade, keeping with its lower trend. Unfortunately, even though there was a positive movement in the cash market, the fact that pork cutout values closed lower is enough to discourage traders and keep the contracts trading lower. July lean hogs closed $1.22 lower at $96.15, August lean hogs closed $1.45 lower at $94.70 and October lean hogs closed $1.35 lower at $81.00. Hog prices closed higher on the Daily Direct Afternoon Hog Report, up $1.37 with a weighted average price of $97.48 on 8,000 head. Pork cutouts total 330.37 loads with 305.36 loads of pork cuts and 25.00 loads of trim. Pork cutout values: down $2.50, $95.96. Tuesday's slaughter is estimated at 485,000 head -- 2,000 head less than a week ago and 4,000 head more than a year ago. The CME lean hog index 6/5/2026: up $0.03, $92.63.

WEDNESDAY'S HOG CALL: Steady. Tuesday's movement in the cash market was sizeable at 8,000 head, which could mean that packers are in need of more hogs.