GENERAL COMMENTS:
The livestock complex is trading mixed into Tuesday's noon hour, with the cattle contracts receiving bullish news that's helping drive contracts higher, but traders remain on edge about being too supportive of the lean hog complex. News broke Monday afternoon that the Cargill beef plant in Fort Morgan, Colorado, is set to begin processing cattle on Sept. 7, which is helping propel the cattle contracts higher. December corn is down 1/2 cent per bushel and December soybean meal is up $0.30. The Dow Jones Industrial Average is down 87.49 points and NASDAQ is down 303.26 points.
LIVE CATTLE:
Late Monday afternoon, news broke that workers at the Cargill plant in Fort Morgan, Colorado, have agreed to come back to work after the union voted to ratify a contract that will increase wages. The plant has been closed since May but hopes to be processing cattle the week of Sept. 7. The plant has historically employed around 2,000 workers and has the capacity to process more than 4,000 head per day. This news has obviously come as a breath of fresh bullish air to the marketplace and is helping drive the cattle contracts higher. August live cattle are up $0.65 at $225.20, October live cattle are up $0.95 at $219.72 and December live cattle are up $1.65 at $220.02. No cash cattle trade has developed yet, and both bids and asking prices remain elusive at this point.
Boxed beef prices are higher: choice up $10.04 ($389.61) and select up $2.54 ($366.80) with a movement of 69 loads (49.60 loads of choice, 5.50 loads of select, 7.43 loads of trim and 6.60 loads of ground beef).
FEEDER CATTLE:
And upon absorbing the same bullish news that the live cattle market did regarding the Cargill plant in Colorado, along with the further support of seeing the live cattle contracts trading higher, the feeder cattle contracts are also trading higher into Tuesday's noon hour. August feeders are up $0.87 at $340.82, September feeders are up $2.50 at $335.45 and October feeders are up $3.05 at $328.40. But the market may be challenged later this week as a Cattle on Feed report is set to be released, and on Monday, Mexican cattle imports are expected to arrive for the first time in over a year.
LEAN HOGS:
Although midday pork cutout values and cash prices are higher, the lean hog contracts are trading lower as traders are going to need to see more than a day's worth of support to really feel comfortable supporting the contracts. October lean hogs are down $1.15 at $80.57, December lean hogs are down $1.82 at $70.72 and February lean hogs are down $1.90 at $73.87. Helping drive the carcass price higher is the loin's $2.98 increase, and the rib's $2.77 increase as well. The projected lean hog index for 8/17/2026 is down $0.69 at $94.78 and the actual index for 8/14/2026 is down $0.21 at $95.47. Hog prices are higher on the Daily Direct Morning Hog Report, up $2.69 with a weighted average price of $94.37, ranging from $88.00 to $95.00 on 2,850 head and a five-day rolling average of $93.90. Pork cutouts total 177.26 loads with 160.89 loads of pork cuts and 16.37 loads of trim. Pork cutout values: up $0.99, $99.74.
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