GENERAL COMMENTS:
The livestock complex ended the day mixed with the lean hog contracts closing slightly higher thanks to continued trader support, but the cattle contracts ended the day softer. New showlists for the week are mostly steady in Texas and Nebraska, but higher in Kansas. December corn is up 6 1/4 cents per bushel and December soybean meal is up $2.40. The Dow Jones Industrial Average is down 272.63 points and the NASDAQ is down 84.25 points.
LIVE CATTLE:
Although the live cattle complex was trading higher at Monday's noon hour, the lack of fundamental support and traders' concern that the market may be challenged throughout the week kept traders from fully supporting the market. August live cattle closed $0.92 higher at $224.55, October live cattle closed $0.10 lower at $218.77 and December live cattle closed $0.02 higher at $218.40. But otherwise the rest of the deferred contracts all closed lower. New showlists for the week are mostly steady in Texas and Nebraska, but higher in Kansas. Monday's slaughter is estimated at 97,000 head -- 1,000 head more than a week ago and 2,000 head less than a year ago.
Last week Southern live cattle traded at $22, which is $7.00 lower than the previous week's weighted average and Northern dressed cattle traded at $365, which is $5.00 lower than the previous week's weighted average.
Boxed beef prices closed higher: choice up $4.27 ($379.57) and select up $13.02 ($364.26) with a movement of 81 loads (56.89 loads of choice, 14.92 loads of select, zero loads of trim and 8.72 loads of ground beef).
TUESDAY'S CATTLE CALL: Lower. Given that packers have regained leverage and have ample supply available to them, it's likely that this week's cash cattle trade will be steady at best.
FEEDER CATTLE:
The feeder cattle contracts ended the day mixed with most of the nearby contracts ending the day lower while the deferred contracts closed slightly higher. August feeders closed $0.85 lower at $339.97, September feeders closed $1.60 lower at $332.95 and October feeders closed $0.07 lower at $325.35. At Joplin Regional Stockyards in Joplin, Missouri, compared to last week feeder steers sold steady to $10.00 lower and feeder heifers traded $2.00 to $12.00 lower. Feeder cattle supply over 600 pounds was 76%. The CME feeder cattle index 8/14/2026: down $4.07, $344.43.
LEAN HOGS:
Although pork cutout values closed lower, traders continued to mildly support the lean hog contracts through Monday's end. October lean hogs closed $0.02 lower at $81.72, December lean hogs closed $0.05 higher at $72.52 and February lean hogs closed steady at $75.77. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $0.68 with a weighted average price of $92.62 on 2,365 head. Pork cutouts totaled 309.90 loads with 281.05 loads of pork cuts and 28.85 loads of trim. Pork cutout values: down $1.15, $98.75. Monday's slaughter is estimated at 484,000 head -- 19,000 head more than a week ago and 5,000 head more than a year ago. The CME lean hog index 8/13/2026: down $0.19, $95.68.
TUESDAY'S HOG CALL: Steady. The lean hog complex may see more packer interest on Tuesday, and prices may be a touch higher, but with consumer demand unstable, cash prices aren't likely to be significantly higher.
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