GENERAL COMMENTS:
All in all it was a quiet day for the livestock complex as the market still hasn't traded any sizeable volume yet in the fed cash cattle market. Thankfully the cattle contracts were able to keep their stronger position through the day's end even without knowing what the cash market was going to do this week. December corn is up 3/4 cent per bushel and December soybean meal is down $1.40. The Dow Jones Industrial Average is up 511.74 points and NASDAQ is up 157.80 points.
From Friday to Friday livestock futures scored the following changes: October live cattle up $2.95, December live cattle up $5.53; October feeder cattle up $1.35, November feeder cattle up $13.98; October lean hogs up $0.13, December lean hogs up $0.48; December corn up $0.01, March corn steady.
LIVE CATTLE:
With no strong developments surfacing in the fed cash cattle market, the live cattle contracts kept their mild advancement through the day's end, but not much more needs to be said as it was a rather uneventful day. October live cattle closed $0.20 lower at $218.87, December live cattle closed $1.05 higher at $222.15 and February live cattle closed $1.42 higher at $224.30. At the time of this writing, only a handful of cattle had sold earlier in the week in the North at $350 which is fully steady with the previous week's weighted average, but no Southern trade has developed. It's anyone's guess how this week's trade could shake out as initially it was assumed that the market would at least trade steady to somewhat higher, but with the production ramifications of the ICE raids in Kansas, packer demand may not be as strong.
Friday's slaughter is estimated at 87,000 head – 14,000 head less than a week ago and 4,000 head less than a year ago. Saturday's slaughter is projected to be around 8,000 head. The week's total slaughter is estimated at 484,000 head – 45,000 head less than a week ago and 74,000 head less than a year ago.
Boxed beef prices closed higher: choice up $2.71 ($378.83) and select up $3.66 ($355.76) with a movement of 112 loads (75.57 loads of choice, 6.68 loads of select, 7.76 loads of trim and 21.68 loads of ground beef).
MONDAY'S CATTLE CALL: Steady. Before we can speculate what next week's trade could amount to, we need to see what's accomplished in this week's trade.
FEEDER CATTLE:
Thanks to the continued support of buyers in the countryside, and the fact that the live cattle contracts closed higher – the feeder cattle contracts were able to keep their elevated position through Friday's close. October feeders closed $3.17 higher at $334.92, November feeders closed $3.90 higher at $331.97 and January feeders closed $3.70 higher at $325.35. The Oklahoma Weekly Cattle Auction Summary shared that compared to last week, feeder steers traded steady to $3.00 lower, and feeder heifers traded $4.00 to $8.00 lower. Steer calves sold $5.00 to $10.00 higher and heifer calves sold unevenly steady. Slaughter cows traded $6.00 to $7.00 lower and lean cows traded $1.00 lower. Slaughter bulls sold $5.00 lower. Feeder cattle supply over 600 pound was 57%. The CME feeder cattle index 9/24/2026: up $1.72, $338.79.
LEAN HOGS:
Although pork cutout values may have closed a tick higher – traders deemed it too little of support, too late in the week to really do anything supportive for the market ahead of today's close. October lean hogs closed $0.97 lower at $78.22, December lean hogs closed $0.45 lower at $69.02 and February lean hogs closed $0.52 lower at $70.32. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $0.27 with a weighted average price of $78.68 on 1,272 head. Pork cutouts totaled 273.65 load with 234.41 loads of pork cuts and 39.24 loads of trim. Pork cutout values: up $0.64, $86.74. Friday's slaughter is estimated at 485,000 head – 8,000 head more than a week ago and 20,000 head more than a year ago. Saturday's slaughter is projected to be around 145,000 head. The CME lean hog index 9/23/2026: down $0.27, $82.20.
MONDAY'S HOG CALL: Lower. Packers rarely support the cash hog market on Monday's.
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