Tuesday Midday Livestock Market Update - Cattle Inch Higher While Hogs Continue to Struggle

GENERAL COMMENTS:

Following Monday's slight correction, the cattle contracts are trading higher into Tuesday's noon hour while the hog contracts continue to tumble lower. A single cash cattle bid is currently on the table in Nebraska, but no cattle have traded at this point. July corn is up 1 3/4 cents per bushel and July soybean meal is up $0.20. The Dow Jones Industrial Average is down 283.33 points and NASDAQ is down 735.57 points.

LIVE CATTLE:

The live cattle complex is trading mildly higher into Tuesday's noon hour as the market simply feels it has more upward mobility following Monday's decline, which pulled the contracts away from resistance at its 40-day moving average. June live cattle are up $0.77 at $247.30, August live cattle are up $1.42 at $238.15 and October live cattle are up $1.20 at $230.55. A single bid is currently on the table in Nebraska at $403, but no cattle have traded yet. Asking prices are noted at $258 to $260 in Texas, but otherwise remain elusive.

Boxed beef prices are mixed: choice down $0.34 ($391.86) and select up $0.41 ($378.50) with a movement of 75 loads (60.09 load of choice, 7.16 loads of select, zero loads of trim and 7.32 loads of ground beef).

FEEDER CATTLE:

The feeder cattle complex is trading mildly higher into Tuesday's noon hour as well as the market continues to mirror the direction of the live cattle market. August feeders are up $1.42 at $352.12, September feeders are up $1.55 at $349.00 and October feeders are up $1.62 at $345.40. As long as the live cattle complex keeps with its higher trend through Tuesday's close the feeder cattle complex will likely do the same.

LEAN HOGS:

In keeping with its recent trend, the lean hog complex is continuing to slide lower. Sinking to its lowest point since last November in the spot July contract, the lean hog complex continues to suffer as traders need stronger fundamental support. June lean hogs are down $0.22 at $93.75, July lean hogs are down $1.35 at $96.00 and August lean hogs are down $1.65 at $94.50. The projected CME Lean Hog Index for 6/8/2026 is up $0.13 at $92.76 and the actual index for 6/5/2026 is up $0.03 at $92.63. Hog prices are higher on the Daily Direct Morning Hog Report, up $1.16 with a weighted average price of $97.17, ranging from $85.00 to $98.00 on 2,710 head and a five-day rolling average of $95.80. Pork cutouts total 148.55 loads with 137.41 loads of pork cuts and 11.15 loads of trim. Pork cutout values down $0.67, $97.79.