GENERAL COMMENTS:
The livestock complex is rallying mildly into midday Monday as traders are supportive of the complex early this week. New showlists for the week are lighter in all the major feeding regions. December corn is down 1 cent per bushel and December soybean meal is down $3.50. The Dow Jones Industrial Average is down 340.70 points and the NASDAQ is down 90.51 points.
LIVE CATTLE:
Although morning boxed beef prices are lower and it's fully assumed that fed cash cattle prices will be lower again this week. Traders are allowing the live cattle contracts to trade mildly higher as they see no immediate danger in merely allowing the contracts to remain in their sideways trend. October live cattle are up $0.75 at $212.47, December live cattle are up $0.87 at $214.60 and February live cattle are up $0.90 at $216.42. New showlists for the week are lighter in all the major feeding regions.
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 are lower: choice down $1.03 ($375.20) and select down $6.57 ($354.51) with a movement of 132 loads (19.84 loads of choice, 7.99 loads of select, 100.32 loads of trim and 3.72 loads of ground beef).
FEEDER CATTLE:
The feeder cattle complex is also trading higher as it continues to closely follow the live cattle market's trend. September feeders are up $1.57 at $322.47, October feeders are up $1.55 at $318.02 and November feeders are up $1.47 at $311.40. So long as the live cattle market continues to scale higher, it's likely that the feeder cattle complex will too.
LEAN HOGS :
The lean hog complex is also trading higher as thankfully its market is being met with well rounded support as not only are traders helping drive the contracts higher, but this morning midday pork cutout values are stronger too. October lean hogs are up $1.55 at $83.45, December lean hogs are up $1.97 at $74.27 and February lean hogs are up $1.72 at $76.70. The market is nearing a resistance plane at $75.00, which could cause traders to not push the contracts beyond that price point. The projected lean hog index for 8/28/2026 is down $0.66 at $90.86 and the actual index for 8/27/2026 is down $0.62 at $91.52. Hog prices are lower on the Daily Direct Morning Hog Report, down $1.00 at $88.65, ranging from $86.00 to $89.00 on 1,147 head and a five-day rolling average of $90.49. Pork cutouts total 143.25 loads with 133.00 loads of pork cuts and 10.24 loads of trim. Pork cutout values: up $3.49, $99.55.
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