GENERAL COMMENTS:
All in all, it was a strong start to the week for the livestock complex as all three of the markets closed higher Monday afternoon. No cash cattle trade has developed yet and both bids and asking prices remain elusive at this point in time. December corn is up 15 1/2 cents per bushel and December soybean meal is up $9.80. The Dow Jones Industrial Average is up 392.14 points and the NASDAQ is up 608.54 points.
LIVE CATTLE:
It was a rallying type of day for the live cattle complex as the market successfully ended the day mostly $5.00 higher. But between noting the fact that feedlot managers were able to hold last week's fed cash cattle trade steady, and the record low number of placements for August on Friday's Cattle on Feed report, traders charged into the new week ready to push the contracts sharply higher. October live cattle closed $5.02 higher at $220.95, December live cattle closed $5.37 higher at $222.00 and February live cattle closed $5.75 higher at $223.10. No cash cattle trade developed throughout the day, and both bids and asking prices remain elusive at this point. Showlists for this week are lighter in Kansas and Nebraska, but larger in Texas.
Monday's slaughter is estimated at 105,000 head -- 2,000 head more than a week ago and 4,000 head less than a year ago.
Last week Northern dressed cattle traded at mostly $350, which is steady with the previous week's weighted average and Southern live cattle traded at mostly $222, which is also steady with the previous week's weighted average.
Boxed beef prices closed higher: choice up $4.41 ($376.35) and select up $2.51 ($355.77), with a movement of 58 loads (40.11 loads of choice, 7.20 loads of select, 3.01 loads of trim and 7.18 loads of ground beef).
TUESDAY'S CATTLE CALL: Steady to somewhat higher. Given that most of the cattle traded in the North last week were committed for delivery for either this week or next, it leads one to believe that packers are shorter bought than originally thought and that prices may be able to hold steady if not trade a tick higher again this week.
FEEDER CATTLE:
As traders noted in last Friday's Cattle on Feed report, and the sheer fact that August placements were the lowest on record, the feeder cattle complex soared higher throughout all of Monday's trade. September feeders closed $3.90 higher at $337.47, October feeders closed $6.75 higher at $330.25 and November feeders closed $8.10 higher at $326.10. At the Joplin Regional Stockyards in Carthage, Missouri, compared to last week, feeder steers under 600 pounds sold $10.00 to $25.00 higher, but the heavier weights traded mostly steady. Feeder heifers under 550 pounds traded $5.00 to $25.00 higher, with the heavier weights trading $10.00 lower to $8.00 higher. Feeder cattle supply over 600 pounds was 74%. The CME feeder cattle index 9/18/2026: down $3.05, $339.45.
LEAN HOGS:
And with the help of stronger pork cutout values and trader support, the lean hog contracts were also able to end the day higher, thanks to a combination of support from both the market's fundamental and technical facets. October lean hogs closed $0.05 higher at $78.15, December lean hogs closed $1.25 higher at $69.80 and February lean hogs closed $1.20 higher at $71.35. Pork cutouts totaled 275.15 loads, with 253.72 loads of pork cuts and 21.43 loads of trim. Pork cutout values: up $1.93, $88.91. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $1.41 with a weighted average price of $80.35 on 3,091 head. Monday's slaughter is estimated at 493,000 head -- 11,000 head more than a week ago and 9,000 head more than a year ago. The CME lean hog index 9/17/2026: down $1.00, $84.02.
TUESDAY'S HOG CALL: Higher. With pork cutout values higher, there's a chance that the cash market could see more interest on Tuesday.
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