Tuesday Midday Livestock Market Summary - Cattle Soar Higher

GENERAL COMMENTS:

With the help of strong equity markets and the recent decline in oil prices, most of the livestock contracts are trading higher into Tuesday's noon hour. No cash cattle trade has developed yet and bids and asking prices still remain elusive. July corn is down 3/4 cent per bushel and July soybean meal is up $2.30. The Dow Jones Industrial Average is up 494.85 points and NASDAQ is down 89.81 points.

LIVE CATTLE:

It's a glorious day for the live cattle contracts as not only are the futures trading higher, the market is rallying aggressively above its 40-day moving average, which has been a challenging threshold over the last three weeks. Consequently, Tuesday's rally only puts the market $1.00 away from the all-time high scored back in April. June live cattle are up $3.50 at $254.12, August live cattle are up $4.72 at $248.00 and October live cattle are up $4.55 at $241.30. No cash cattle trade has developed yet and no bids or asking prices have surfaced at this point.

Boxed beef prices are higher: choice up $4.86 ($399.91) and select up $1.58 ($377.99) with a movement of 57 loads (41.41 loads of choice, 8.29 loads of select, zero loads of trim and 7.44 loads of ground beef).

FEEDER CATTLE:

Upon seeing the live cattle contracts rally anywhere from $3.00 to $4.00 higher -- dare I say it's been almost easy for the feeder cattle contracts to push a $5.00 to $6.00 rally into Tuesday's noon hour? August feeders are up $5.82 at $367.37, September feeders are up $5.97 at $365.50 and October feeders are up $6.07 at $362.17. With the help of strong support from the outside equity markets, this rally is likely going to hold at least through Tuesday's end, if not longer.

LEAN HOGS:

The lean hog contracts are trading mixed into Tuesday's noon hour as the external support of strong equity markets and the lower prices of oil are helping improve the mood of the complex; but traders still want to see better fundamental demand. July lean hogs are down $1.15 at $95.42, August lean hogs are down $0.02 at $95.75 and October lean hogs are up $0.10 at $80.32. The projected CME Lean Hog Index for 6/15/2026 is down $0.16 at $91.93 and the actual index for 6/12/2026 is down $0.66 at $92.09. Hog prices on the Daily Direct Morning Hog Report average $95.42, ranging from $95.00 to $98.00 on 1,185 head and a five-day rolling average of $96.32. Pork cutouts total 140.36 loads with 124.98 loads of pork cuts and 15.39 loads of trim. Pork cutout values: down $1.29, $95.83.