Monday Midday Livestock Market Summary - Cattle Trade Lower as Mexican Imports Resume

GENERAL COMMENTS:

With Mexican cattle imports resuming at the Douglas, Arizona, port Monday (Aug. 24), the cattle contracts are checked up and trading lower in hesitant action. New showlists for the week are lighter in Texas and Kansas, but slightly higher in Nebraska. December corn is up 13 1/2 cents per bushel and December soybean meal is up $3.70. The Dow Jones Industrial Average is up 147.22 points and NASDAQ is down 96.45 points.

LIVE CATTLE:

Although the live cattle complex opened Monday initially higher, the market has now changed direction and is trending lower as traders are currently keeping their distance. The contracts are falling anywhere from $2.00 to $3.00 lower into Monday's noon hour. October live cattle are down $3.90 at $214.02, December live cattle are down $3.75 at $214.82 and February live cattle are down $3.27 at $216.05. More than anything it's likely the complex is weaker Monday morning as the market is soberly aware of the fact that Mexican cattle imports are going to resume today at the Douglas, Arizona, port of entry. It's also likely that again this week fed cash cattle prices will be challenged as packers continue to hold the lion's share of the market's leverage at this point. New showlists for the week are lighter in Texas and Kansas, but slightly higher in Nebraska.

Last week Northern dressed cattle traded at mostly $355 to $356, which is $9.00 to $10.00 lower than the previous week's weighted average. Southern live cattle traded at $225, which is $3.00 lower than the previous week's weighted average; but the Southern Plains didn't move very many cattle.

Boxed beef prices are mixed: choice down $0.84 ($384.85) and select up $3.34 ($364.66) with a movement of 41 loads (24.85 loads of choice, 6.23 loads of select, 2.84 loads of trim and 6.69 loads of ground beef).

FEEDER CATTLE:

Knowing that Mexican feeder cattle are likely walking across the border right now as we speak has the feeder cattle contracts trading anywhere from $4.00 to mostly $5.00 lower into Monday's noon hour. September feeder cattle are down $5.30 at $323.72, October feeders are down $5.37 at $318.27 and November feeders are down $5.15 at $311.10. It's likely the market will keep with this lower trend through Monday's end given there's so much unknown about the border crossings right now.

LEAN HOGS:

The lean hog complex is trading mixed into Monday's noon hour with most of the contracts mildly higher, but a few of the furthest deferred contracts are lower. It's helpful that morning pork cutout values are higher, which is something the market desperately needs to continue to see if prices are going to keep with a stronger trend. October lean hogs are up $0.32 at $81.20, December lean hogs are up $0.35 at $71.82 and February lean hogs are up $0.27 at $74.70. The projected CME Lean Hog Index for 8/21/2026 is down $0.40 at $92.86 and the actual index for 8/20/2026 is down $0.46 at $93.26. Hog prices are unavailable on the Daily Direct Morning Hog Report because of confidentiality. However, we can see that only 155 head have traded and the market's five-day rolling average now sits at $93.58. Pork cutouts total 156.61 loads with 147.43 loads of pork cuts and 9.18 loads of trim. Pork cutout values: up $1.93, $99.89.