Monday Closing Livestock Market Update - Traders Help Support the Complex at the Week's Start

GENERAL COMMENTS:

All in all, it was a good day for the livestock complex, as contracts mostly ended the day higher, thanks to continued trader support. New showlists for the week are lower in all major feeding regions. December corn is down 1/4 cent per bushel and December soybean meal is down $1.80. The Dow Jones Industrial Average is down 60.95 points and the NASDAQ is down 85.26 points.

LIVE CATTLE:

The live cattle complex ended the day higher as traders remain hopeful that the market's fundamentals will prevail later this week and continue to lend ample support to the market. And while yes, the market did see an impressive $7.06 increase in the choice cut today, I personally believe that this week's fed cash cattle market may have an uphill battle ahead of it as packers were able to secure a large volume of cattle last week. August live cattle closed $1.57 higher at $233.27, October live cattle closed $1.62 higher at $226.90 and December live cattle closed $1.80 higher at $225.95. Monday's slaughter is estimated at 96,000 head -- 6,000 head more than a week ago and 6,000 head less than a year ago. New showlists for the week are lower in all major feeding regions.

Last week Northern dressed cattle traded at mostly $370, which is $3.00 higher than last week's weighted average, and Southern live cattle traded at mostly $235, which is $2.00 higher than last week's weighted average. Last week's negotiated cash cattle trade totaled 104,609 head. Of that, 84% (87,876 head) were committed to the market's nearby delivery option, while the remaining 16% (16,733 head) were committed to the market's deferred delivery option. That is the largest weekly cash cattle trade thus far for 2026.

Boxed beef prices closed mixed: choice up $7.06 ($371.42) and select down $1.53 ($350.84) with a movement of 69 loads (41.68 loads of choice, 13.93 loads of select, 5.23 loads of trim and 8.06 loads of ground beef).

TUESDAY'S CATTLE CALL: Lower. With packers able to secure that much inventory last week, it's likely that this week's trade will be lower.

FEEDER CATTLE:

The feeder cattle complex kept its mixed position throughout the day as the market's nearby contracts closed lower, but the deferred contracts were able to remain higher like the live cattle contracts through Monday's close. August feeders closed $0.90 lower at $350.75, September feeders closed $0.65 lower at $344.57 and October feeders closed $0.95 higher at $335.87. At the Oklahoma National Stockyards in Oklahoma City, Oklahoma, compared to last week, feeder steers traded steady to $5.00 higher and feeder heifers sold mostly steady. The sale report did note that "high heat and extremely dry conditions is limiting the demand for calves, and especially for unweaned calves. Feeder cattle supply over 600 pounds was 60%. The CME feeder cattle index 8/7/2026: down $1.38, $355.98.

LEAN HOGS:

With the help of strong support in both the cash market and in regard to consumer demand, the lean hog contracts were able to rally through Monday's close. October lean hogs closed $1.45 higher at $83.67, December lean hogs closed $1.55 higher at $75.12 and February lean hogs closed $1.35 higher at $78.47. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $0.99 with a weighted average price of $96.68 on 7,845 head. Pork cutouts totaled 237.98 loads with 216.91 loads of pork cuts and 21.07 loads of trim. Pork cutout values: up $0.31, $101.81. Monday's slaughter is estimated at 483,000 head -- 65,000 head more than a week ago and 2,000 head more than a year ago. The CME lean hog index 8/6/2026: down $0.36, $96.30.

TUESDAY'S HOG CALL: Steady/somewhat higher. Packers are obviously short bought and will likely need more hogs.