Tuesday Closing Livestock Market Update - Traders Regain Focus and Push Contracts Higher

GENERAL COMMENTS:

Thankfully, most of the livestock complex was able to rally through Tuesday's close, putting the fears that had mostly dominated Monday behind it. The cash cattle market was mostly quiet throughout the day, although some light trade was noted. December corn is up 6 1/2 cents per bushel and December soybean meal is up $3.70. The Dow Jones Industrial Average is up 537.24 points and the NASDAQ is down 55.17 points.

LIVE CATTLE:

All in all, it was a relieving day for the live cattle complex as traders seemed to collectively agree that the live cattle contracts were safe to trade higher and that the fear surrounding the reopening of the border to Mexican cattle imports starting on Aug. 24 could shift to the back burner. August live cattle closed $2.25 higher at $227.47, October live cattle closed $3.40 higher at $222.17 and December live cattle closed $3.90 higher at $221.30. Bids were offered throughout the day in the cash market, and a few minor sales were noted, but no substantial trade broke loose as packers continue to hope to get cattle bought at cheaper money, but feedlot managers are hopeful with the board's support and supportive boxed beef prices that the cash market may actually trade higher. So far this week, Southern live cattle have traded at $228 to $228, and dressed cattle have traded at $360, but there hasn't been enough cattle traded to say that any sort of a market trend has been established. 

Tuesday's slaughter is estimated at 106,000 head -- 3,000 head more than a week ago and 7,000 head less than a year ago.

Boxed beef prices closed mixed: choice up $2.97 ($365.86) and select down $1.64 ($343.52) with a movement of 112 loads (72.87 loads of choice, 17.03 loads of select, 8.25 loads of trim and 13.71 loads of ground beef).

WEDNESDAY'S CATTLE CALL: Steady. Depending on what boxed beef prices do and what the board does the rest of the week will likely influence the direction of this week's cash cattle market.

FEEDER CATTLE:

The live cattle contracts were able to close fully higher, but that wasn't the case for the feeder cattle complex as its nearby contracts ended the day stronger, but the market's deferred contracts still closed lower. August feeders closed $4.82 higher at $343.07, September feeders closed $5.30 higher at $337.22 and October feeders closed $1.57 higher at $326.82. At Joplin Regional Stockyards in Carthage, Missouri, compared to last week, feeder steers traded $5.00 to $20.00 lower, except light six and seven weight steers, which sold steady to $5.00 higher. Feeder heifers traded $10.00 to $20.00 lower. Feeder cattle supply over 600 pounds was 65%. The CME feeder cattle index 7/27/2026: up $1.10, $348.47.

LEAN HOGS:

Although pork cutout values closed a touch lower, the contracts were still able to rally through the day's end as traders remained faithful supporters. August lean hogs closed $0.12 higher at $103.10, October lean hogs closed $0.47 higher at $88.27 and December lean hogs closed $1.12 higher at $79.67. And so long as demand shines through in Wednesday's market, the complex will likely be able to keep with its higher trend. Hog prices closed higher on the Daily Direct Afternoon Hog Report, up $0.31 with a weighted average price of $101.00 on 9,474 head. Pork cutouts totaled 245.93 loads with 222.51 loads of pork cuts and 23.42 loads of trim. Pork cutout values: down $0.33, $104.12. Tuesday's slaughter is estimated at 470,000 head -- steady with a week ago and 5,000 head more than a year ago. The CME lean hog index 7/24/2026: up $0.32, $98.23.

WEDNESDAY'S HOG CALL: Steady. With pork cutout values closing a touch softer Tuesday afternoon, packers may not be as aggressive Wednesday.