GENERAL COMMENTS:
The livestock complex ended the day in the same manner in which it's traded all week with the cattle complex being softer but the lean hog complex was able to rally. No new cash cattle trade developed throughout the day. December corn is up 3 1/2 cents per bushel and December soybean meal is down $3.90. The Dow Jones Industrial Average is down 406.55 points and the NASDAQ is down 361.71 points.
From Friday-to-Friday livestock futures scored the following changes: August live cattle down $10.78, October live cattle down $9.85; August feeder cattle down $8.65, September feeder cattle down $11.68; August lean hogs up $2.65, October lean hogs up $2.88; September corn up $0.05, December corn up $0.06.
LIVE CATTLE:
Friday's action was no different from the rest of the week for the live cattle complex as the contracts continued to drift lower through the week's end as not enough support is arising in the marketplace. August live cattle closed $2.65 lower at $224.42, October live cattle closed $2.57 lower at $220.70 and December live cattle closed $2.67 lower at $220.52. No more cash cattle trade developed throughout the day.
Throughout the week, Northern dressed cattle have traded from $370 to $385, but most at $377 to $380, which is $12.00 to $15.00 lower than the previous week's weighted average. Southern live cattle have been traded at mostly $237 to $238, which is $10.00 to $11.00 lower than last week's weighted average.
Friday's slaughter is estimated at 89,000 head -- 10,000 head less than a week ago and 11,000 head less than a year ago. Saturday's slaughter is projected to be around 3,000 head. The week's total slaughter is estimated at 525,000 head -- 4,000 head less than a week ago and 42,000 head less than a year ago.
Boxed beef prices closed lower: choice down $1.57 ($366.81) and select down $0.40 ($355.29) with a movement of 111 loads (59.82 loads of choice, 12.29 loads of select, 10.02 loads of trim and 29.05 loads of ground beef).
MONDAY'S CATTLE CALL: Lower. Until something changes in terms of support -- the cash market is likely going to continue to trade lower.
FEEDER CATTLE:
The feeder cattle complex kept with its same trend throughout the day as well -- ending the day on a weaker note as not enough support is surfacing in the marketplace. August feeders closed $0.65 lower at $345.95, September feeders closed $1.00 lower at $339.35 and October feeders closed $1.62 lower at $332.82. The Oklahoma Weekly Cattle Auction Summary shared that compared to last week feeder steers over 800 pounds sold $1.00 to $3.00 higher, while steers under 800 pounds traded $5.00 to $10.00 lower. Feeder heifers sold $5.00 to $10.00 lower except those weighing 600 to 700 pounds which traded $10.00 to $20.00 lower. Steer calves over 500 pounds sold $4.00 to $5.00 lower but steers under 500 pounds traded steady. Heifer calves sold $10.00 to $15.00 lower. Feeder cattle supply over 600 pounds was 67%. The CME feeder cattle index 7/16/2026: down $1.49, $364.03.
LEAN HOGS:
The lean hog contracts rallied boldly through Friday's end -- not letting the preexisting resistance pressure hold the market back. Because with continued support from consumers -- traders had all the support they needed to continue to drive the contracts higher through Friday's end. August lean hogs closed $1.37 higher at $101.65, October lean hogs closed $1.02 higher at $87.95 and December lean hogs closed $0.82 higher at $78.77. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $0.94 with a weighted average price of $99.32 on 2,612 head. Pork cutouts totaled 267.73 loads with 246.73 loads of pork cuts and 20.99 loads of trim. Pork cutout values: up $1.99, $104.41. Friday's slaughter is estimated at 443,000 head -- 3,000 head less than a week ago and 15,000 head less than a year ago. Saturday's slaughter is projected to be around 17,000 head. The CME lean hog index 7/15/2026: up $0.50, $95.10.
MONDAY'S HOG CALL: Steady to somewhat higher. With strong demand, packers may be active early again in next week's cash market.
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