Wednesday Midday Livestock Market Summary - Cattle Futures Inch Higher, While Hogs Long to See Consumer Support Improve

GENERAL COMMENTS:

The livestock complex is mixed as the cattle contracts have more than enough support helping push them higher, but the lean hog contracts are trading lower as traders aren't pleased with the slight reduction in consumer demand. Bids are on the table in Kansas and Nebraska, but no cash cattle trade has developed at this point. December corn is down 8 1/4 cents per bushel and December soybean meal is down $5.60. The Dow Jones Industrial Average is down 853.97 points and NASDAQ is down 271.55 points.

LIVE CATTLE:

The bulls have again taken over the live cattle complex and are successfully pushing the live cattle futures higher into Wednesday's noon hour. So, what gives, you ask? I mean, wasn't it just two days ago the market plummeted lower upon hearing the U.S. border is going to open for Mexican cattle imports starting Aug. 24? Yes, all of that is true. But in today's fast-paced world, that's old news at this point and the consensus of the market seems to be the downturn the cattle complex endured over the last month has been overdone and it's time to see some support. August live cattle are up $1.72 at $229.20, October live cattle are up $2.12 at $224.30 and December live cattle are up $2.15 at $223.45. No trade has developed yet Wednesday in the cash market, but it wouldn't be surprising to see some does develop later this afternoon. Bids are currently on the table in Nebraska at $360 dressed and $228 live and in Kansas at $228 live. Asking prices are noted in the South at $234 to $235 but are not fully established yet in the North.

Boxed beef prices are mixed: choice down $1.35 ($364.51) and select up $1.75 ($345.27) with a movement of 77 loads (48.06 loads of choice, 11.72 loads of select, 10.01 loads of trim and 7.52 loads of ground beef).

FEEDER CATTLE:

The feeder cattle contracts are trading higher into Wednesday's noon hour, keeping right in line with the live cattle market's trend. August feeders are up $2.02 at $345.10, September feeders are up $2.70 at $339.90 and October feeders are up $3.77 at $330.60. So long as the live cattle market continues to trade higher through Wednesday's close, it's likely the feeder cattle contracts will follow suit.

LEAN HOGS:

With the slight dip in pork demand, the lean hog contracts are trading lower into Wednesday's noon hour. August lean hogs are down $0.75 at $102.35, October lean hogs are down $1.30 at $86.97 and December lean hogs are down $1.62 at $78.05. Until traders see improved consumer support, a sideways chop is all that's expected of the contracts. The projected CME Lean Hog Index for 7/28/2026 is up $0.10 at $98.45 and the actual index for 7/27/2026 is up $0.12 at $98.35. Hog prices are higher on the Daily Direct Morning Hog Report, up $0.33 with a weighted average price of $101.65, ranging from $92.00 to $102.50 on 1,825 head and a five-day rolling average of $101.08. Pork cutouts total 157.85 loads with 132.65 loads of pork cuts and 25.20 loads of trim. Pork cutout values: down $1.34, $102.57.