Tuesday Midday Livestock Market Summary - Cattle Keep Climbing Higher While Hogs Remain Cautious

GENERAL COMMENTS:

The livestock complex is trading into Tuesday's noon hour with the cattle contracts seeing mild support while the lean hog contracts drift lower. No developments have surfaced in this week's fed cash cattle market yet. December corn is down 1 cent per bushel and December soybean meal is up $0.30. The Dow Jones Industrial Average is down 87.07 points and NASDAQ is down 122.58 points.

LIVE CATTLE:

The live cattle complex is trading mildly higher into Tuesday's noon hour as the market continues to hope fundamental support will be greater later in the week. It's anyone's guess at this point what this week's fed cash cattle market will amount to; but with packers able to buy a plethora of cattle last week, I personally see steady prices as the best-case scenario for this week's cash market. August live cattle are up $0.02 at $233.30, October live cattle are up $0.20 at $227.10 and December live cattle are up $0.47 at $226.47. No bids or asking prices have surfaced yet in the cash market.

Boxed beef prices are lower: choice down $1.04 ($370.38) and select down $0.65 ($350.19) with a movement of 86 loads (49.86 loads of choice, 15.50 loads of select, 5.49 loads of trim and 15.61 loads of ground beef).

FEEDER CATTLE:

The feeder cattle complex is trading mostly higher into Tuesday's noon hour, although the August 2026 feeder cattle contract is trading a tick lower. Again Tuesday, the feeder cattle complex is following in the live cattle market's wake, hoping it's upward trajectory continues as that's the biggest supportive factor the market possesses right now. August feeders are down $0.22 at $350.37, September feeders are up $1.00 at $345.60 and October feeders are up $1.35 at $337.22.

LEAN HOGS:

The lean hog complex is trading lower again as traders are leery about being overly supportive of the market. Yes, midday pork cutout values are higher, but traders are hoping that stability will shine through and give them greater confidence. October lean hogs are down $0.62 at $83.05, December lean hogs are down $1.05 at $74.07 and February lean hogs are down $1.07 at $77.40. The projected CME Lean Hog Index for 8/10/2026 is down $0.15 at $95.94, and the actual index for 8/7/2026 is down $0.21 at $96.09. Hog prices on the Daily Direct Morning Hog Report average $96.96, ranging from $92.00 to $97.00 on 5,830 head and a five-day rolling average of $97.80. Pork cutouts totaled 153.92 loads with 139.90 loads of pork cuts and 14.02 loads of trim. Pork cutout values: up $0.98, $102.79.