Monday Closing Livestock Market Update - Complex Closes Mostly Higher on Increased Trader Support

GENERAL COMMENTS:

The livestock complex ended the day mostly higher thanks to increased trader support. Showlists for the week are mixed as showlists are higher in Texas and Nebraska, but lower in Kansas. December corn is up 5 1/2 cents per bushel and December soybean meal is up $5.30. The Dow Jones Industrial Average is down 298.15 points and the NASDAQ is up 3.62 points.

LIVE CATTLE:

With the help of greater trader support, the live cattle contacts were able to end the day higher, which is a successful feat given that the market hasn't seen a higher close in over the last 15 trading days. More than anything, today's success is merely from the support of traders, and it's likely that if fundamental support doesn't arise later this week, the futures complex will again come under pressure. August live cattle closed $2.10 higher at $226.52, October live cattle closed $2.60 higher at $223.30 and December live cattle closed $2.47 higher at $223.00. No cash cattle trade developed throughout the day, and both bids and asking prices remain elusive at this point. Showlists for the week are mixed as showlists are higher in Texas and Nebraska, but lower in Kansas. Monday's slaughter is estimated at 106,000 head -- 1,000 head more than a week ago and 2,000 head more than a year ago.

Last week, Southern live cattle traded at mostly $237 to $238, which is $10.00 to $11.00 lower than the previous week's weighted average and Northern dressed cattle traded at mostly $377 to $380, which is $12.00 to $15.00 lower than the previous week's weighted average.

Boxed beef prices closed higher: choice up $3.29 ($370.10) and select up $0.16 ($355.45) with a movement of 77 loads (40.51 loads of choice, 11.33 loads of select, 11.08 loads of trim and 14.19 loads of ground beef).

TUESDAY'S CATTLE CALL: Lower. Given that packers have successfully built up some supply, it's likely that they'll be able to push prices lower again this week.

FEEDER CATTLE:

With a little extra support from the live cattle complex and traders, the feeder cattle contracts were able to end the day higher with a sizeable $5.00 to $7.00 rally seen at Monday's close. August feeders closed $6.05 higher at $352.00, September feeders closed $6.90 higher at $346.25 and October feeders closed $7.00 higher at $339.82. At the Oklahoma National Stockyards in Oklahoma City, Oklahoma, compared last week and at their mid-session point, feeder steers and heifers were trading $15.00 to $25.00 lower. Steer and heifer calves were selling $20.00 to $30.00 lower, with spots up to $40.00 lower. Feeder cattle supply over 600 pounds was 62%. The CME feeder cattle index 7/17/2026: down $4.32, $359.71.

LEAN HOGS:

Aside from a couple of the nearby contracts, the lean hog complex also ended the day higher. More than anything, what likely held the nearby contracts from closing higher was the fact that pork cutout values were weaker at Monday's end. If demand becomes support later this week, likely all the contracts will again trade higher. August lean hogs closed $0.37 lower at $101.27, October lean hogs closed $0.22 lower at $87.27 and December lean hogs closed $0.30 higher at $79.07. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $0.43 with a weighted average price of $98.89 on 4,051 head. Pork cutouts totaled 238.48 loads with 203.18 loads of pork cuts and 35.30 loads of trim. Pork cutout values: down $1.31, $103.10. Monday's slaughter is estimated at 440,000 head -- 3,000 head less than a week ago and 7,000 head less than a year ago. The CME lean hog index 7/16/2026: not available at this time.

TUESDAY'S HOG CALL: Steady to somewhat higher. Given that packer demand wasn't very strong on Monday, it's likely that interest will improve on Tuesday.