GENERAL COMMENTS:
The livestock complex ended the day mixed again with the cattle contracts now concerned that not enough fundamental support is going to develop in this week's market, but the lean hog contracts closed mildly higher. Some light cash cattle trade developed in Nebraska at $355 to $356 dressed. December corn is up 10 cents per bushel and December soybean meal is up $6.80. The Dow Jones Industrial Average is up 119.65 points and the NASDAQ is up 41.38 points.
LIVE CATTLE:
With very little support developing from the market's fundamentals, the live cattle contracts ended the day lower. August live cattle closed $1.47 lower at $223.42, October live cattle closed $1.70 lower at $217.22 and December live cattle closed $2.05 lower at $217.15. Some cash cattle trade was noted throughout the afternoon in mostly Nebraska, where dressed cattle traded at mostly $355, but some sales were also marked at $356, and a handful of live cattle traded in Nebraska at $255. Most of the cattle were noted for delivery on the week of September 9. Otherwise, the cash cattle market was quiet throughout the day, with bids being offered in other regions but no sales noted. Asking prices are noted at $230 in Texas but not established in other regions.
Wednesday's slaughter is estimated at 106,000 head -- steady with a week ago and 9,000 head less than a year ago.
Boxed beef prices closed mixed: choice up $3.84 ($394.99) and select down $2.12 ($364.17) with a movement of 87 loads (52.42 loads of choice, 17.94 loads of select, 4.13 loads of trim and 12.49 loads of ground beef).
THURSDAY'S CATTLE CALL: Lower. With the board softer, and with packers able to secure more inventory in recent weeks, it's likely that this week's trade will be lower.
FEEDER CATTLE:
The feeder cattle contracts ended the day lower as traders simply didn't have enough support in the complex to justify soundly trading the contracts higher. August feeder cattle closed $2.37 lower at $336.85, September feeders closed $4.22 lower at $329.12 and October feeders closed $4.27 lower at $322.05. At the Winter Livestock Auction in Dodge City, Kansas, compared to last week, heifers weighing 650 pounds or more sold $5.00 to $9.00 lower. Stocker steers and heifers weighing 300 to 550 pounds traded $10.00 to $20.00 higher. Feeder steers weren't well tested, but a weaker undertone was true. Feeder cattle supply over 600 pounds was 80%. The CME feeder cattle index 8/18/2026: down $1.19, $342.36.
LEAN HOGS:
It was another day where technical support carried the lean hog contracts higher through the day's close, as both cash prices and pork cutout values were disappointing. October lean hogs closed $0.77 higher at $81.50, December lean hogs closed $0.50 higher at $71.42 and February lean hogs closed $0.25 higher at $74.25. Until core fundamental support improves, and mainly in the for of stronger consumer demand, it's likely the contracts won't find tremendous upward range. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $2.27 with a weighted average price of $92.10 on 4,752 head. Pork cutouts totaled 295.29 loads with 252.30 loads of pork cuts and 43.00 loads of trim. Pork cutout values: down $1.54, $97.58. Wednesday's slaughter is estimated at 476,000 head -- 8,000 head less than a week ago and 1,000 head less than a year ago. The CME lean hog index 8/17/2026: down $0.69, $94.78.
THURSDAY'S HOG CALL: Lower. With pork cutout values being lower, it's unlikely that packers will eagerly support the cash market on Thursday.
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