GENERAL COMMENTS:
The livestock complex is trading fully lower into midday Friday as the market longs for more consistent fundamental support. Bids are on the table in Nebraska and Kansas, but no new cash cattle trade has developed. December corn is down 4 1/2 cents per bushel and December soybean meal is down $1.50. The Dow Jones Industrial Average is down 278.93 points and the NASDAQ is down 97.86 points.
LIVE CATTLE:
All in all, it's been a quiet, lower-trending day for the live cattle complex as there's yet to be any more cash cattle trade develop and the futures contracts are back to trading lower. October live cattle are down $1.25 at $213.05, December live cattle are down $1.12 at $215.00 and February live cattle are down $1.12 at $216.60. The cash cattle market remains rather uneventful thus far through Friday's trade, as the only developments today are some bids in Kansas at $220 and in Nebraska at $218. Otherwise, no new cash cattle trade has developed. So far this week Southern live cattle have traded at mostly $219 live ($3.00 lower than last week's weighted average and Northern dressed cattle have traded at mostly $344 to $345 (steady to $1.00 lower than last week's weighted average).
Boxed beef prices are mixed: choice down $1.87 ($375.03) and select up $3.51 ($354.23) with a movement of 69 loads (50.53 loads of choice, 6.29 loads of select, 8.35 loads of trim and 3.34 loads of ground beef).
FEEDER CATTLE:
And like normal, if the live cattle complex is trading lower, in this current market environment, you can almost bet on the fact that the feeder cattle contracts are trading lower, and today they are. September feeders are down $2.52 at $323.32, October feeders are down $1.95 at $319.15 and November feeders are down $1.65 at $313.65. Although the board was supportive on Thursday, feeder cattle prices held mostly steady with the week's trend in the countryside.
LEAN HOGS:
The lean hog complex is back to trading lower, as the market is waving its white flag, seeming to say, "there's not enough stable support in the complex right now to justify taking the risk and challenging the market's resistance threshold." With that, the lean hog contracts are trading fully lower into Friday's noon hour. October lean hogs are down $1.07 at $82.37, December lean hogs are down $1.47 at $72.45 and February lean hogs are down $1.45 at $75.15. The projected lean hog index for 9/3/2026 is down $0.54 at $90.54, and the actual index for 9/2/2026 is up $0.23 at $91.08. Hog prices are unavailable on the Daily Direct Morning Hog Report because of confidentiality. However, we can see that there have been only 593 head traded and that the market's five-day rolling average now sits at $89.38. Pork cutouts total 148.31 loads, with 140.11 loads of pork cuts and 8.21 loads of trim. Pork cutout values: up $0.14, $91.26.
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