GENERAL COMMENTS:
The livestock complex is trading mostly lower into midday Friday as it's simply been a disappointing week where not enough fundamental support has appeared. Some light cash cattle trade is developing in the South at $222, which is $3.00 lower than last week's weighted average. December corn is up 4 1/2 cents per bushel and December soybean meal is up $9.60. The Dow Jones Industrial Average is down 23.75 points and the NASDAQ is down 110.49 points.
LIVE CATTLE:
The live cattle complex is trading lower as traders don't see much reason to support the contracts at this point in the week. Unfortunately, the lack of fundamental support this week has been a big hindrance, and the contracts are continuing to trade lower. October live cattle are down $1.57 at $211.35, December live cattle are down $1.67 at $213.12 and February live cattle are down $1.70 at $215.12. The cash cattle market is finally seeing some Southern trade develop at $222 live, which is $3.00 lower than the previous week's weighted average. Bids are also on the table in Nebraska at $218 live and $345 dressed. At this point, the bulk of this week's trade is likely done.
Boxed beef prices are mixed: choice down $4.97 ($376.39) and select up $2.81 ($362.00) with a movement of 81 loads (69.57 loads of choice, 3.70 loads of select, zero loads of trim and 7.30 loads of ground beef).
FEEDER CATTLE:
The live cattle complex is also trading lower as it's late in the week and support has simply failed to develop. October feeders are down $1.52 at $316.55, November feeders are down $2.42 at $309.05 and January feeders are down $2.52 at $301.40. And it's highly unlikely at this point in the week that trades are going to change their mind and advance the contract ahead of Friday's close.
LEAN HOGS :
The lean hog complex is trading mixed into midday Friday, with most of the nearby contracts trading lower while the deferred months are trading slightly higher. October lean hogs are down $0.25 at $80.37, December lean hogs are down $0.27 at $70.92 and February lean hogs are down $0.25 at $73.60. While yes, pork cutout values are higher, it's too little support, too late in the week to add any meaningful support. The projected lean hog index for 8/27/2026 is down $0.62 at $91.52, and the actual index for 8/26/2026 is down $0.28 at $92.14. Hog prices on the Daily Direct Morning Hog Report average $89.65, ranging from $85.50 to $94.00 on 2,112 head, with a five-day rolling average of $90.63. Pork cutouts total 159.56 loads, with 141.11 loads of pork cuts and 18.46 loads of trim. Pork cutout values: up $1.36, $95.16.
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