GENERAL COMMENTS:
All in all, it was a mixed, lackadaisical day for the livestock complex as little action developed. No cash cattle trade has developed yet. July corn is down 2 3/4 cents per bushel and July soybean meal is up $0.70. The Dow Jones Industrial Average is up 182.06 points and the NASDAQ is down 110.40 points.
LIVE CATTLE:
The live cattle complex ended the day higher as traders were willing to mildly support the contracts through the day's end, as they're hopeful the cash market will lend support later this week when trade develops. No cash cattle trade has developed yet, and trade will likely be delayed until Friday as feedlot managers hope to see the cash market gain another $1.00 or $2.00. June live cattle closed $0.85 higher at $256.00, August live cattle closed $0.52 higher at $246.52 and October live cattle closed $0.62 higher at $240.37.
Wednesday's slaughter is estimated at 108,000 head -- 1,000 head less than a week ago and 7,000 head less than a year ago.
Boxed beef prices closed lower: choice down $1.37 ($398.94) and select down $2.92 ($378.14) with a movement of 98 loads (64.94 loads of choice, 17.87 loads of select, 4.99 loads of trim and 10.02 loads of ground beef).
THURSDAY'S CATTLE CALL: Higher. With feedlot managers aiming to see the market advance again this week, it's likely that trade will be delayed until Friday.
FEEDER CATTLE:
The combination of stronger feeder cattle demand in the countryside, mixed with the technical support of the higher trend in the live cattle contracts, has helped propel the feeder cattle contracts higher. August feeders closed $4.77 higher at $372.92, September feeders closed $3.65 higher at $370.62 and October feeders closed $2.95 higher at $367.55. At the Torrington Livestock Auction in Torrington, Wyoming, compared to two weeks ago, feeder steers and heifers traded $10.00 to $18.00 higher. Feeder cattle supply over 600 pounds was 89%. The CME feeder cattle index 6/23/2026: up $2.83, $375.83.
LEAN HOGS:
The lean hog complex ended the day mixed as the nearby contracts remain cautious as demand isn't as strong as traders would like, but the deferred contracts continued to trade higher. July lean hogs closed $0.37 lower at $93.85, August lean hogs closed $0.52 lower at $96.70 and October lean hogs closed $0.30 lower at $80.90. Do note that tomorrow afternoon the Quarterly Hogs and Pigs report is set to be released. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $1.70 with a weighted average price of $95.56 on 700 head. Pork cutouts totaled 269.94 loads with 231.75 loads of pork cuts and 38.19 loads of trim. Pork cutout values: down $1.39, $93.86. Wednesday's slaughter is estimated at 487,000 head -- 35,000 head more than a week ago and 15,000 head more than a year ago. The CME lean hog index 6/22/2026: down $0.17, $91.47.
THURSDAY'S HOG CALL: Lower. At this point, packers have seemed to show this week that they don't need many hogs, and they won't be participating in the cash market much this week.
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