GENERAL COMMENTS:
With not a lot of strong fundamental support arising throughout the day, the livestock contracts closed mostly lower. No cash cattle trade developed throughout the day. July corn is down 1 3/4 cents per bushel and July soybean meal is up $3.10. The Dow Jones Industrial Average is down 45.87 points and the NASDAQ is down 579.56 points.
LIVE CATTLE:
Although boxed beef prices still ended the day stronger, the live cattle contracts ran out of momentum through the day's afternoon and by closing time all the contracts were found to be lower. June live cattle closed $0.67 lower at $255.15, August live cattle closed $1.35 lower at $246.00 and October live cattle closed $1.25 lower at $239.75. And until traders see what this week's fed cash cattle market is doing to accomplish, it's unlikely that the contracts will trade much higher. No bids or asking prices were noted throughout the day.
Tuesday's slaughter is estimated at 110,000 head -- 1,000 head more than a week ago and 8,000 head less than a year ago.
Boxed beef prices closed higher: choice up $4.25 ($400.31) and select up $5.47 ($381.06) with a movement of 93 loads (53.96 loads of choice, 11.55 loads of select, 13.60 loads of trim and 13.97 loads of ground beef).
WEDNESDAY'S CATTLE CALL: Steady to somewhat higher. With packer having to pay more money last week in the cash market, it's likely that they're still short bought and could be aggressive in this week's market too.
FEEDER CATTLE:
The feeder cattle contracts also ended the day lower as traders weren't willing to come up any closer to resistance levels without having full support of the live cattle contracts. August feeder cattle closed $2.27 lower at $368.15, September feeders closed $1.85 lower at $366.97 and October feeders closed $1.42 lower at $364.60. At Joplin Regional Stockyards in Carthage, Missouri compared to last week feeder steers under 600 pounds sold steady to $10.00 lower, while feeder steers over 600 pounds sold $5.00 to $20.00 higher with the most gain on the weights over 800 pounds. Feeder heifers sold $5.00 lower to $5.00 higher, with the exception of six weight heifers which traded $15.00 to $25.00 stronger. Feeder cattle supply over 600 pounds was 62%. The CME feeder cattle index 6/22/2026: up $2.44, $373.00.
LEAN HOGS:
The lean hog complex ended the day mostly lower, although a couple of the nearby contracts closed slightly higher. July lean hogs closed $0.42 lower at $94.22, August lean hogs closed $0.50 higher at $97.22 and October lean hogs closed $0.35 higher at $81.20. Until traders see greater consumer demand, it's likely that the contracts will remain cautious. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $0.51 with a weighted average price of $97.26 on 6,055 head. Pork cutouts totaled 306.73 loads with 271.30 loads of pork cuts and 35.42 loads of trim. Pork cutout values: down $0.85, $95.23. Tuesday's slaughter is estimated at 486,000 head -- 1,000 head more than a week ago and 14,000 head more than a year ago. The CME lean hog index 6/19/2026 down $0.53, $91.64.
WEDNESDAY'S HOG CALL: Lower. With pork cutout values lower, it's unlikely that the cash market will jump too aggressively.
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