GENERAL COMMENTS:
The livestock complex ended the day mostly lower as traders want to see greater fundamental support before they push the contracts too much higher. New showlists are mixed this week as showlists are lighter in Texas and Kansas, but larger in Nebraska and Colorado. December corn is up 8 1/2 cents per bushel and December soybean meal is up $0.40. The Dow Jones Industrial Average is up 693.38 points and the NASDAQ is up 540.05 points.
LIVE CATTLE:
Although traders were supportive early in the day of the live cattle contracts, the market grew softer as the day went on, as traders would like to see fundamental support increase. August live cattle closed $0.65 lower at $231.10, October live cattle closed $0.52 lower at $226.72 and December live cattle closed $0.72 lower at $226.22. No cash cattle trade developed throughout the day, but it was interesting to see packers offering bids of $233 in Kansas on a Monday, as that obviously indicates that they're short bought going into this week's trade. Asking prices are not yet established, but it's assumed that prices will be steady if not higher again this week. New showlists are mixed this week as showlists are lighter in Texas and Kansas, but larger in Nebraska and Colorado. Monday's slaughter is estimated at 90,000 head -- 2,000 head less than a week ago and 11,000 head less than a year ago.
Last week Southern live cattle traded from $231 to $233, which is $1.00 to $3.00 higher than the previous week's weighted average. Northern dressed cattle traded from $365 to $368, which is steady to $3.00 higher.
Boxed beef prices closed mixed: choice up $5.35 ($366.73) and select down $1.78 ($344.45) with a movement of 85 loads (38.55 loads of choice, 24.19 loads of select, 7.62 loads of trim and 14.79 loads of ground beef).
TUESDAY'S CATTLE CALL: Higher. With packers already offering bids, it's likely that they're short bought and prices will be higher this week.
FEEDER CATTLE:
The feeder cattle complex also ended the day lower as the market continues to closely mirror the direction of the live cattle complex. But today's technical action wasn't a reflection of what happened in the countryside as buyers were aggressive today in sale barns. August feeders closed $0.20 lower at $347.82, September feeders closed $1.22 lower at $342.55 and October feeders closed $1.65 lower at $333.70. At the Joling Regional Stockyards in Carthage, Missouri, compared to last week, feeder steers traded $10.00 to $26.00 higher, with the biggest advancement seen on the five weights. Feeder heifers sold steady to $20.00 higher, with the most gain seen on those weighing over 600 pounds. Feeder cattle supply over 600 pounds was 67%. The CME feeder cattle index 7/31/2026: up $1.06, $346.89.
LEAN HOGS:
The lean hog complex ended the day mixed, with its nearby contracts still hesitant to trade higher, but the deferred contracts ended the day with a successful mild rally. August lean hogs closed $1.32 lower at $97.52, October lean hogs closed $1.17 lower at $83.67 and December lean hogs closed $0.32 lower at $75.35. Thankfully, consumer demand was slightly stronger today, which could help give traders confidence later in the week. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $0.96 with a weighted average price of $99.45 on 4,366 head.
Pork cutouts total 268.94 loads with 250.35 loads of pork cuts and 18.59 loads of trim. Pork cutout values: up $0.90, $100.91. Monday's slaughter is estimated at 430,000 head -- 10,000 head more than a week ago and 3,000 head more than a year ago. The CME lean hog index 7/30/2026: down $0.21, $98.23.
TUESDAY'S HOG CALL: Higher. With consumer demand a tick better at Monday's end, packers could likely show the cash market a little more interest on Tuesday.
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