Tuesday Midday Livestock Market Summary - Traders Lack Confidence in Market's Fundamentals

GENERAL COMMENTS:

The livestock complex is enduring another challenging day as the market is left depleted of fundamental support. Some light cash cattle trade is currently developing in Nebraska; but otherwise the market sits idle with no other sales noted. December corn is up 6 1/2 cents per bushel and December soybean meal is up $1.30. The Dow Jones Industrial Average is up 72.43 points and NASDAQ is up 157.40 points.

LIVE CATTLE:

Although midday boxed beef prices are higher, the live cattle contracts continue their lower trend as the market needs reassurance as to what the immediate market ramifications are going to be from the border reopening Monday at the Douglas, Arizona, port to Mexican cattle imports. While midday boxed beef prices substantially higher, that fundamental support isn't enough to lend traders any confidence at this point in time. October live cattle are down $2.20 at $211.40, December live cattle are down $1.75 at $212.45 and February live cattle are down $1.70 at $213.90. Some light cash cattle trade is currently being reported in the North at $345 and those cattle were committed for delivery on the weeks of Sept. 8 and Sept. 14. Otherwise, the cash market sits idle with no trade developed yet. But asking prices in the South are noted at $228 to $230.

Boxed beef prices are higher: choice up $2.43 ($388.12) and select up $5.46 ($370.48) with a movement of 59 loads (31.52 loads of choice, 11.32 loads of select, 11.70 loads of trim and 4.19 loads of ground beef).

FEEDER CATTLE:

The losses in the feeder cattle complex are even more severe as its contracts are $3.00 to $4.00 lower headed into Tuesday's noon hour. Couple the border reopening with the fact that buyers have been more selective in sale barns here recently; neither of those two factors help support the feeder cattle market, unfortunately. September feeders are down $4.55 at $319.67, October feeders are down $4.17 at $314.10 and November feeders are down $4.32 at $306.65.

LEAN HOGS:

The lean hog complex isn't in any better of a position than the cattle contracts are as its market is also trading lower into Tuesday's noon hour. But with both cash prices and pork cutout values lower, a lower trend is the only thing to be expected. October lean hogs are down $0.60 at $80.52, December lean hogs are down $0.75 at $70.72 and February lean hogs are down $0.95 at $73.47. 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 on the Daily Direct Morning Hog Report average $90.61, ranging from $89.00 to $92.00 on 4,162 head and a five-day rolling average of $92.36. Pork cutouts total 180.19 loads with 163.44 loads of pork cuts and 16.75 loads of trim. Pork cutout values: down $2.31, $97.62.