GENERAL COMMENTS:
It's another mixed day for the livestock complex as the cattle contracts are trading higher, but the lean hog contracts are back to trading lower. A single bid of $219 is being offered in Kansas, but no new trade has developed following Wednesday's light business. December corn is down 2 1/2 cents per bushel and December soybean meal is up $5.80. The Dow Jones Industrial Average is up 599.87 points and the NASDAQ is up 330.31 points.
Thursday's export report shared that beef net sales of 12,900 mt for 2026 were up 41% from the previous week, but down 2% from the prior 4-week average. The three largest buyers were South Korea (4,700 mt), Hong Kong (1,700 mt) and Japan (1,600 mt). Pork net sales of 35,000 mt for 2026 were down 10% from the previous week but up 8% from the prior 4-week average. The three largest buyers were Mexico (17,800 mt), China (5,900 mt) and Japan (2,700 mt).
LIVE CATTLE:
The live cattle contracts are pushing a bullish rally into Thursday's noon hour as the market is currently trading anywhere from $3.00 to $4.00 higher. It's tough to pinpoint where the market's explosive burst of support is stemming from as boxed beef prices are lower this morning, but it is encouraging that of the light cash cattle trade that we've seen in the North, prices were at least steady with last week's weighted average. October live cattle are up $4.37 at $214.52, December live cattle are up $4.52 at $216.55 and February live cattle are up $4.35 at $218.35. The cash cattle market remains quiet at Thursday's noon hour, with a bid of $219 currently on the table in Kansas, but otherwise no developments have surfaced. There was some light trade noted on Wednesday at $345 in the North, which is steady with last week's weighted average, but no other trade has been noted. The futures market is trading notably higher, which could potentially help feedlot managers hold this week's trade steady.
Boxed beef prices are lower: choice down $1.48 ($377.30) and select down $2.58 ($351.00) with a movement of 72 loads (54.35 loads of choice, 6.38 loads of select, zero loads of trim and 11.42 loads of ground beef).
FEEDER CATTLE:
Upon seeing the live cattle contracts trading notably higher, the feeder cattle contracts have elected to charge onward as well, as they're currently trading anywhere from $5.00 to $7.00 higher. Hopefully today's higher push will help feeder cattle sales in the countryside. September feeders are up $6.60 at $325.57, October feeders are up $7.10 at $321.55 and November feeders are up $7.85 at $316.20.
LEAN HOGS :
Unfortunately the bullish push that's helping drive the cattle contracts higher hasn't trickled over into the lean hog complex as its market is now trading lower. More than anything it's likely that the market's resistance is holding the lean hog complex from trading any higher as traders desire to see greater fundamental support before tackling that big of a technical barrier. October lean hogs are down $0.50 at $83.27, December lean hogs are down $0.52 at $73.80 and February lean hogs are down $0.42 at $76.45. The projected lean hog index for 9/2/2026 is up $0.23 at $91.08 and the actual index for 9/1/2026 is up $0.27 at $90.85. Hog prices closed $3.30 lower at $87.09, ranging from $85.00 to $89.00 on 844 head and a five-day rolling average of $89.44. Pork cutouts total 113.05 loads with 105.63 loads of pork cuts and 7.42 loads of trim. Pork cutout values: down $2.77, $92.85.
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