GENERAL COMMENTS:
The livestock contracts were granted a day of higher closes across all three of the markets thanks to greater trader support. New showlists for the week are lighter in all the major feeding regions. December corn is up 1 1/4 cents per bushel and December soybean meal is down $3.60. The Dow Jones Industrial Average is down 295.15 points and the NASDAQ is down 56.77 points.
LIVE CATTLE:
Thanks to the support of traders, the live cattle contracts were able to end the day higher, with the extra support of trader interest helping push the contracts along. October live cattle closed $0.95 higher at $212.67, December live cattle closed $0.85 higher at $214.57 and February live cattle closed $0.95 higher at $216.47. No cash cattle trade developed throughout the day, and both bids and asking prices remain elusive at this point too. It is assumed that prices will be steady at best again this week as packers have regained leverage and have been able to build up inventory in recent weeks. Monday's slaughter is estimated at 104,000 head -- 6,000 head more than a week ago and incomparable to a year ago.
Last week Southern live cattle traded at mostly $222, which is $3.00 lower than the previous week's weighted average and Northern dressed cattle traded at $345, which is $10.00 lower than the previous week's weighted average. Last week's negotiated cash cattle trade totaled 79,292 head. Of which 74% (58,409 head) were committed to the market's nearby delivery, while the remaining 26% (20,883 head) were committed to the market's deferred delivery option.
Boxed beef prices closed lower: choice down $0.41 ($375.82) and select down $2.59 ($358.49), with a movement of 162 loads (37.94 loads of choice, 12.88 loads of select, 101.34 loads of trim and 9.69 loads of ground beef).
TUESDAY'S CATTLE CALL: Lower. Given that packers have plenty of supply around them, it's likely that prices will be lower again this week.
FEEDER CATTLE:
Continuing to follow in the live cattle market's wake, the feeder cattle contracts also ended the day higher. September feeders closed $0.55 higher at $321.45, October feeders closed $0.50 higher at $317.02 and November feeders closed $0.50 higher at $310.42. And it's likely that throughout the remainder of the week, the market continues to closely mirror the live cattle market's behavior. At Joplin Regional Stockyards in Carthage, Missouri, compared to last week, feeder steers under 800 pounds sold $10.00 to $15.00 lower. Weights over 800 pounds sold $10.00 lower to $2.00 higher. Feeder heifers sold from $5.00 lower to $3.00 higher. Feeder cattle supply over 600 pounds was 80%. The CME feeder cattle index 8/28/2026: down $3.49, $329.31
LEAN HOGS:
All in all, it was a winning day for the lean hog contracts as not only did the contracts end the day higher, but pork cutout values were also stronger, which gives the market a nice blend of technical and fundamental support. October lean hogs closed $1.77 higher at $83.67, December lean hogs closed $1.85 higher at $74.15 and February lean hogs closed $1.55 higher at $76.52. Pork cutouts totaled 254.05 loads, with 224.52 loads of pork cuts and 29.54 loads of trim. Pork cutout values: up $1.61, $97.67. Hog prices ended the day lower on the Daily Direct Afternoon Hog Report, down $0.84 with a weighted average price of $88.73 on 2,137 head. Monday's slaughter is estimated at 476,000 head -- 7,000 head more than a week ago and incomparable to a year ago. The CME lean hog index 8/27/2026: down $0.62, $91.52.
TUESDAY'S HOG CALL: Steady to somewhat higher. Given that pork cutout values were higher on Monday, there's a chance that packers may be more aggressive in Tuesday's market.
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