GENERAL COMMENTS:
The livestock complex ended the day mostly lower again, as the market continues to struggle to find fundamental support. Still no trade has developed in the cash market but bids were offered in Nebraska. December corn is down 2 3/4 cents per bushel and December soybean meal is up $1.30.
The Dow Jones Industrial Average is up 9.63 points and the NASDAQ is up 233.83 points.
LIVE CATTLE:
It was another downward spiraling day for the live cattle complex as the market simply hasn't found enough support to stop the market's downward bleed. August live cattle closed $3.30 lower at $231.42, October live cattle closed $2.97 lower at $227.65 and December live cattle closed $3.10 lower at $227.30. Some bids were noted in Nebraska at $380, but feedlot managers let that bid sit idle. Asking prices are noted at $248 in Texas, but are not established elsewhere.
Tuesday's slaughter is estimated at 111,000 head -- 1,000 head more than a week ago and 7,000 head less than a year ago.
Boxed beef prices closed lower: choice down $1.66 ($373.95) and select down $0.76 ($364.41) with a movement of 90 loads (65.21 loads of choice, 8.50 loads of select, 8.56 loads of trim and 7.92 loads of ground beef).
WEDNESDAY'S CATTLE CALL: Lower. Given the lower trend of the board and of boxed beef prices -- it's likely that the cash market will trade lower this week too.
FEEDER CATTLE:
Although there was some light interest in the countryside for feeder cattle -- until the feeder cattle contracts see that there's greater support from traders and that the live cattle contracts are trading higher, it's likely that the board will continue to trade lower. August feeders closed $5.55 lower at $348.80, September feeders closed $5.97 lower at $344.85 and October feeders closed $6.32 lower at $340.52. At Oklahoma National Stockyards in Oklahoma City, Oklahoma compared to their last full test two weeks ago, feeder steers traded mostly steady, but feeder heifers traded steady to $4.00 higher. Steer calves sold steady to $3.00 lower and heifer calves sold $2.00 to $5.00 higher. Feeder cattle supply over 600 pounds was 73%. The CME feeder cattle index 7/13/2026: down $2.20, $370.32.
LEAN HOGS:
Mixed tones kept with the lean hog complex through Tuesday's close as the nearby contracts felt confident with the increased support from packers in the cash market to keep their contracts higher, but the deferred contracts closed lower. It's been incredible to see this much demand in the recent weeks from packers -- as it's evident that they're short bought. And while yes, prices in the cash market closed lower -- today's volume of over 11,000 head is incredible. August lean hogs closed $0.35 higher at $98.45, October lean hogs closed $0.10 higher at $84.37 and December lean hogs closed $0.25 lower at $74.82. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $0.22 with a weighted average price of $98.56 on 11,325 head. Pork cutouts total 288.57 loads with 270.42 loads of pork cuts and 18.15 loads of trim. Pork cutout values: down $0.34, $101.21. Tuesday's slaughter is estimated at 483,000 head -- 4,000 head more than a week ago and 20,000 head more than a year ago. The CME lean hog index 7/10/2026: up $0.42, $93.11.
WEDNESDAY'S HOG CALL: Steady. Until packers have secured enough supply, prices could trade higher.
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