Friday Midday Livestock Market Update - Packers are Offering Bids, But Feedlot Managers Want More Money

GENERAL COMMENTS:

The livestock complex is again trading mixed into the day's noon hour as the cattle contracts keep moving higher but the lean hog complex is weaker. Bids are on the table in the cash cattle market, but trade has yet to cut loose. December corn is down 6 1/2 cents per bushel and December soybean meal is down $3.10. The Dow Jones Industrial Average is up 236.14 points and NASDAQ is up 147.92 points.

LIVE CATTLE:

Although there's yet to be a solid movement in this week's fed cash cattle market, the live cattle futures continue to scale higher as we head into Friday's noon hour. August live cattle are up $0.57 at $231.80, October live cattle are up $0.22 at $227.67 and December live cattle are up $0.55 at $227.27. But with midday boxed beef prices higher, feedlot managers will likely try to wait the week out until the bitter end in hopes of getting prices improved this week. Bids have resurfaced and packers are offering $365 to $368 in Nebraska, but still no new trade has developed. Asking prices are firm at $235-plus in the South and $370 in the North.

Boxed beef prices are higher: choice up $1.03 ($361.53) and select up $5.82 ($347.15) with a movement of 51 loads (32.59 loads of choice, 7.04 loads of select, 5.79 loads of trim and 5.66 loads of ground beef).

FEEDER CATTLE:

It's been a refreshing week for the feeder cattle complex. The continued support of the live cattle contract's higher trend is likely to lift the feeder cattle futures to a stronger close. August feeders are up $1.10 at $347.57, September feeders are up $1.47 at $343.92 and October feeders are up $1.92 at $335.95. Demand has been steady at best in the countryside, so this week's advancement on the board has solely been a technical decision by traders.

LEAN HOGS:

After the last two days where the lean hog contracts tumbled lower thanks to a lack of consumer support, the market has found some trader support Friday which is helping keep the contracts stabilized and trading higher. August lean hogs are up $0.65 at $99.07, October lean hogs are up $1.62 at $84.97 and December lean hogs are up $1.40 at $75.92. Unfortunately, consumer support hasn't improved Friday and that could cause more heartache and downward pressure for the contracts in upcoming days.

The projected CME Lean Hog Index for 7/30/2026 is down $0.21 at $98.23 and the actual index for 7/29/2026 is down $0.01 at $98.44. Hog prices are lower on the Daily Direct Morning Hog Report, down $0.03 with a weighted average price of $100.49, ranging from $98.00 to $102.50 on 1,596 head and a five-day rolling average of $101.14. Pork cutouts total 215.31 loads with 201.49 loads of pork cuts and 13.83 loads of trim. Pork cutout values: down $0.18, $101.46.