GENERAL COMMENTS:
The livestock complex again ended the day mixed as cattle contracts continue to see ample support from traders, but the lean hog complex ended the day weaker as traders aren't willing to support its contracts without stronger consumer demand. Bids were offered throughout the day in Kansas and Nebraska, but the day's cash movement was extremely thin. December corn is down 8 3/4 cents per bushel and December soybean meal is down $4.30. The Dow Jones Industrial Average is down 1,153.18 points and NASDAQ is down 433.97 points.
LIVE CATTLE:
The live cattle contracts ended the day higher as the bulls continue to have their way with the market, and they are pleased to have enough support to continue to work the contracts higher. August live cattle closed $0.42 higher at $227.90, October live cattle closed $1.80 higher at $223.97 and December live cattle closed $2.02 higher at $223.32. Throughout the day, bids were offered in Nebraska and Kansas, but the day's trade was again minimal. So far this week, Southern live cattle have traded at $228 to $228, and dressed cattle have traded at $360, but there haven't been enough cattle traded to say that any sort of a market trend has been established. Asking prices in the South are noted at $234 to $235.
Wednesday's slaughter is estimated at 107,000 head -- 9,000 head more than a week ago and 6,000 head less than a year ago.
Boxed beef prices closed lower: choice down $2.43 ($363.43) and select down $1.11 ($342.41) with a movement of 137 loads (77.89 loads of choice, 24.05 loads of select, 11.49 loads of trim and 23.87 loads of ground beef).
THURSDAY'S CATTLE CALL: Steady to somewhat higher. Given that packers continue to offer bids but feedlot managers are letting them sit on the table, it leads one to believe that feedlot managers are holding out for higher prices later this week.
FEEDER CATTLE:
The feeder cattle contracts were also able to rally throughout the day as the market continues to closely align with the live cattle contracts and follow its lead. August feeder cattle closed $1.20 higher at $344.27, September feeder cattle closed $1.42 higher at $338.65 and October feeder cattle closed $2.80 higher at $329.62. At the Knoxville Livestock Center in Knoxville, Tennessee, compared to last week, feeder steers traded unevenly steady, while feeder heifers traded $4.00 to $5.00 lower and feeder bulls sold $4.00 higher. Feeder cattle supply over 600 pounds was 34%. The CME feeder cattle index 7/29/2026: down $0.56, $347.91.
LEAN HOGS:
It was a lousy day for the lean hog complex as the market saw most of its contracts close anywhere from $1.00 to $2.00 lower. More than anything, I think the lack of consumer support this week has the contracts on edge as they simply don't possess enough support without strong and unwavering consumer demand. August lean hogs closed $2.42 lower at $100.67, October lean hogs closed $2.57 lower at $85.70 and December lean hogs closed $2.47 lower at $77.20. Hog prices closed higher on the Daily Direct Afternoon Hog Report, up $0.79 with a weighted average price of $101.79 on 8,600 head. Pork cutouts totaled 294.23 loads with 251.53 loads of pork cuts and 42.70 loads of trim. Pork cutout values: down $2.13, $101.78. Wednesday's slaughter is estimated at 471,000 head -- 8,000 head less than a week ago and 1,000 head more than a year ago. The CME lean hog index 7/27/2026: up $0.12, $98.35.
THURSDAY'S HOG CALL: Lower. If consumer demand is soft, it's unlikely that packers are going to push cash prices higher.
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