GENERAL COMMENTS:
The livestock complex ended the day lower as traders were simply displeased with the level of fundamental support in the marketplace currently. Hopefully fundamental support will arise later in the week, but for today that didn't help the market much. December corn is up 2 1/2 cents per bushel and December soybean meal is up $9.20. The Dow Jones Industrial Average is down 328.09 points and the NASDAQ is down 204.84 points.
LIVE CATTLE:
Although traders opened the market higher at Tuesday's start, they quickly abandoned their bullish start for the day as they became worried about not seeing further fundamental support. And while it's assumed that the fed-cash cattle market could lend that support later this week -- it's simply too early in the week to tell. But it is worth noting that closing boxed beef prices did end the day stronger -- which may lend some additional support to the market on Wednesday. October live cattle closed $1.55 lower at $220.70, December live cattle closed $1.80 lower at $223.35 and February live cattle closed $1.62 lower at $224.67. No cash cattle trade developed throughout the day and it's likely that again this week trade will be delayed until sometime after Wednesday. But with feedlot managers able to push the market higher last week -- it's assumed that prices could trend that way again this week. No bids or asking prices have been established yet this week.
Tuesday's slaughter is estimated at 108,000 head -- 1,000 head less than a week ago and 14,000 head less than a year ago.
Boxed beef prices closed higher: choice up $0.77 ($376.08) and select up $1.81 ($356.36) with a movement of 101 loads (71.11 loads of choice, 17.51 loads of select, zero loads of trim and 12.50 loads of ground beef).
WEDNESDAY'S CATTLE CALL: Higher. Feedlot managers are eager to push the market and there's a chance that they may be able to push prices higher again this week.
FEEDER CATTLE:
And as one would only logically expect, the feeder cattle complex ended the day lower too, once again keeping in alignment with the live cattle complex. September feeders closed $3.30 lower at $340.27, October feeders closed $4.00 lower at $333.85 and November feeders closed $3.87 lower at $328.90. At Joplin Regional Stockyards in Carthage, Missouri compared to their last sale two weeks ago, feeder steers under 700 pounds sold $20.00 to $40.00 higher. Heavier weights traded steady to $15.00 higher. Feeder heifers sold $5.00 to $20.00 higher. Feeder cattle supply over 600 pounds was 85%. The CME feeder cattle index 9/14/2026: down $0.13, $341.58.
LEAN HOGS:
The lean hog contracts also ended the day lower as traders continue to struggle to find the support they need to drive the market in any other direction other than lower. October lean hogs closed $0.52 lower at $79.07, December lean hogs closed $1.60 lower at $69.65 and February lean hogs closed $1.70 lower at $71.90. What was noteworthy about Tuesday's developments, however, in the hog sector was the market did close below its support plane at $80 in the spot October contract. So where the market goes next in terms of a bottom, well that's a good question. Hog prices closed higher on the Daily Direct Afternoon Hog Report, up $1.76 with a weighted average price of $84.58 on 8,726 head. Pork cutouts totaled 274.03 loads with 243.41 loads of pork cuts and 30.62 loads of trim. Pork cutout values: down $2.28, $87.50. Tuesday's slaughter is estimated at 488,000 head -- 10,000 head more than a week ago and 1,000 head more than a year ago. The CME lean hog index 9/11/2026: down $0.73, $87.21.
WEDNESDAY'S HOG CALL: Lower. With pork cutout values lower, it's likely that cash prices will be too.
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