Friday Closing Livestock Market Update - Traders Help Support the Contracts

GENERAL COMMENTS:

The livestock complex ended the day on a mostly stronger note as traders continue to help drive the contracts higher. Some light cash cattle trade was noted throughout the day, but the week's movement remains thin. December corn is down 4 1/2 cents per bushel and December soybean meal is down $1.60. The Dow Jones Industrial Average is up 276.97 points and the NASDAQ is up 251.67 points.

From Friday to Friday livestock futures scored the following changes: August live cattle up $4.68, October live cattle up $4.75; August feeder cattle up $2.70, September feeder cattle up $2.33; August lean hogs down $4.00, October lean hogs down $4.18; September corn down $0.24, December corn down $0.24.

LIVE CATTLE:

The live cattle contracts ended the day mixed as the market was trying to patiently wait for the fed cash cattle market to trade -- but trade was slow to develop this week. At the time of this writing, some more light trade has been noted, but the week's movement has still been thin.

Throughout the week Southern live cattle traded from $231 to $233 which is $1.00 to $3.00 higher than the previous week's weighted average, and Northern dressed cattle traded from $365 to $368 which is steady to $3.00 higher. August live cattle closed $0.52 higher at $231.75, October live cattle closed $0.20 lower at $227.25 and December live cattle closed $0.22 higher at $226.95.

Friday's slaughter is estimated at 98,000 head -- 5,000 head less than a week ago and 6,000 head more than a year ago. Saturday's slaughter is projected to be around 7,000 head.

Boxed beef prices closed higher: choice up $0.88 ($361.38) and select up $4.90 ($346.23) with a movement of 82 loads (40.54 loads of choice, 12.78 loads of select, 9.76 loads of trim and 18.63 loads of ground beef).

MONDAY'S CATTLE CALL: Higher. Unless a wall of cattle trade late Friday afternoon, packers are going to need to secure more inventory next week to avoid being short bought.

FEEDER CATTLE:

The feeder cattle complex ended the day higher as traders remained faithful supporters of the market through the day's end. August feeders closed $1.55 higher at $348.02, September feeders closed $1.32 higher at $343.77 and October feeders closed $1.32 higher at $335.35. The Oklahoma Weekly Cattle Auction Summary shared that compared to last week feeder steers traded steady to $5.00 lower expect for the 600-to-700-pound steers which traded $15.00 to $20.00 lower. Feeder heifers sold $10.00 to $15.00 lower. Steer calves over 500 pounds traded steady, but those under 500 pounds sold $30.00 to $40.00 lower. Heifer calves traded $15.00 to $20.00 lower. The sale report specifically noted that, "This week's market was extremely uneven. Buyers were willing to pay steady money for cattle in good condition. However, the ongoing hot and dry conditions are taking a toll on lighter weight soft calves. Flyweight steer calves sold sharply lower than last week as buyers showed less interest in cattle that may struggle to gain weight under current weather conditions." Feeder cattle supply over 600 pounds was 58%. The CME feeder cattle index 7/30/2026: down $1.86, $345.83.

LEAN HOGS:

And although pork cutout values were still lower at Friday's end, the lean hog contracts were blessed with some additional trader support which helped keep the contracts from falling any lower. August lean hogs closed $0.42 higher at $98.85, October lean hogs closed $1.50 higher at $84.85 and December live cattle closed $1.15 higher at $75.67. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $0.64 with a weighted average price of $100.41 on 1,671 head. Pork cutouts totaled 284.26 loads with 263.25 loads of pork cuts and 21.00 loads of trim. Pork cutout values: down $1.63, $100.01. Friday's slaughter is estimated at 424,000 head -- 36,000 head more than a week ago and 40,000 head less than a year ago. Saturday's slaughter is projected to be around 32,000 head. The CME lean hog index 7/29/2026: down $0.01, $98.44.

MONDAY'S HOG CALL: Lower. Packers are rarely aggressive in the cash market on Mondays and with pork cutout values being a touch softer, it's unlikely that they will be overly aggressive early next week.