GENERAL COMMENTS:
The livestock complex is trading mixed into Wednesday's noon hour as the cattle contracts retreat mildly following Tuesday's massive surge, but the lean hog contracts are slightly higher. No trade has developed yet in the cash cattle market. July corn is up 4 1/4 cents per bushel and July soybean meal is down $0.10. The Dow Jones Industrial Average is up 216.47 points and NASDAQ is up 20.72 points.
LIVE CATTLE:
Following Tuesday's wild rally, the live cattle contracts are trading in a more subtle nature Wednesday, longing to see increased fundamental support after such a bold run higher. June live cattle are up $0.02 at $255.32, August live cattle are up $0.60 at $248.60 and October live cattle are down $0.70 at $241.30. No cash cattle trade has developed yet and there's a chance the week's trade could be delayed until Thursday as feedlot managers are hopeful of seeing the market trade higher this week. Asking prices are noted in Texas at $260 to $262, but no trade has developed at this point.
Boxed beef prices are mixed: choice down $3.47 ($396.11) and select up $0.57 ($377.42) with a movement of 81 loads (60.33 loads of choice, 4.53 loads of select, 7.97 loads of trim and 8.07 loads of ground beef).
FEEDER CATTLE:
The feeder cattle complex is also trading slightly lower, seeming to be unwilling to advance the market as aggressively as it did on Tuesday without the support of the live cattle contract's higher trend and without knowing what's going to be on Thursday's Cattle on Feed report. August feeder cattle are down $1.00 at $365.87, September feeders are down $1.12 at $364.15 and October feeders are down $1.32 at $361.10. Sales continue to be strong at the Superior Livestock Auction Corn Belt Classic and a full market report of the sale will be available later in the week.
LEAN HOGS:
The lean hog complex is higher as traders are willing to advance the contracts mildly following the setback earlier this week. Unfortunately, the market won't likely see much more of a price advancement later this afternoon as the contracts are nearing resistance and as midday pork cutout values are lower. July lean hogs are down $0.42 at $94.37, August lean hogs are up $1.07 at $96.12 and October lean hogs are up $0.85 at $80.77. The projected CME Lean Hog Index for 6/16/2026 is up $0.49 at $92.43 and the actual index for 6/15/2026 is down $0.16 at $91.93. Hog prices are higher on the Daily Direct Morning Hog Report, up $2.08 with a weighted average price of $97.50, ranging from $86.00 to $98.00 on 3,625 head and a five-day rolling average of $96.69. Pork cutouts total 180.16 loads with 161.45 loads of pork cuts and 18.70 loads of trim. Pork cutout values: down $0.52, $95.05.
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