GENERAL COMMENTS:
Tuesday ended up being the supportive push that the livestock complex was hoping for. But with traders willing to advance the contracts in hope that fundamental support will develop later this week, all three of the livestock markets ended the day higher. December corn is down 3 1/4 cents per bushel and December soybean meal is down $5.30. The Dow Jones Industrial Average is down 566.84 points and the NASDAQ is down 77.08 points.
LIVE CATTLE:
All in all it was a supportive day for the live cattle complex as the contracts continued to rally, springboarding off of last week's momentum, and hoping that support will continue to build in the upcoming week. October live cattle closed $4.07 higher at $217.02, December live cattle closed $4.50 higher at $219.22 and February live cattle closed $3.87 higher at $220.45. No cash cattle trade was noted throughout the day, and both bids and asking prices remain elusive at this time. But it is assumed that prices will trade steady at best this week.
Tuesday's slaughter is estimated at 109,000 head -- 3,000 head more than a week ago and 11,000 head less than a year ago.
Boxed beef prices closed mixed: choice up $1.40 ($377.57) and select down $0.48 ($355.39) with a movement of 83 loads (58.48 loads of choice, 17.03 loads of select, zero loads of trim and 7.34 loads of ground beef).
WEDNESDAY'S CATTLE CALL: Steady. Given that packers have plenty of supply available to them, it's likely that prices will be steady at best this week.
FEEDER CATTLE:
And upon seeing plenty of support from the live cattle complex, trader felt as although it was easy decision to push the feeder cattle contracts higher too. September feeders closed $4.05 higher at $328.87, October feeders closed $5.30 higher at $325.45 and November feeders closed $5.72 higher at $320.45. The market is nearing it's 40-day moving average, which could pose as a technical barrier unless fundamental support is strong enough to surpass that threshold. The CME feeder cattle index 9/7/2026: down $0.60, $326.98.
LEAN HOGS:
The lean hog complex was also able to rally through Tuesday's close, thanks to the continued support of traders. It was disheartening to see pork cutout values close lower, which will need to be stronger later this week if the market is going to continue to trade higher and surpass the resistance threshold at $75.00. October lean hogs closed $1.95 higher at $84.25, December lean hogs closed $2.57 higher at $75.05 and February lean hogs closed $2.42 higher at $77.65. Hog prices on the Daily Direct Afternoon Hog Report averaged $86.35, ranging from $76.00 to $89.50 on 3,840 head. Pork cutouts total 264.38 loads with 240.21 loads of pork cuts and 24.18 loads of trim. Pork cutout values: down $1.09, $91.77. Tuesday's slaughter is estimated at 483,000 head -- 11,000 head more than a week ago and steady with a year ago. The CME lean hog index 9/3/2026: down $0.54, $90.54.
WEDNESDAY'S HOG CALL: Steady to somewhat higher. Packers weren't very aggressive in Tuesday's market which likely means that they'll need to participate more in Wednesday's market.
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