GENERAL COMMENTS:
The livestock complex ended the day mixed with the cattle contracts ending the day higher while the lean hog contracts closed lower. Some light cash cattle trade again developed in the North, but not enough cattle have traded to say that any sort of a trend has been established yet for the week. December corn is down 21 1/4 cents per bushel and December soybean meal is down $2.10. The Dow Jones Industrial Average is down 443.87 points and the NASDAQ is up 63.52 points.
LIVE CATTLE:
Trader support remained ample through Wednesday's close as traders continue to be hopeful that fundamental support will arise later this week and lend the market the extra shot of encouragement that it needs. October live cattle closed $1.45 higher at $218.67, December live cattle closed $1.90 higher at $222.70 and February live cattle closed $2.15 higher at $225.07. Throughout the day some light trade developed in the North again at mostly $350 -- but the trade was extremely light so it's too early to say that any sort of a trend has been established for the week. Asking prices are noted in the North at $360, but are not yet established in the South.
Wednesday's slaughter is estimated at 98,000 head -- 4,000 head more than a week ago and 19,000 head less than a year ago.
Boxed beef prices closed mixed: choice up $0.13 ($382.79) and select down $3.89 ($360.59) with a movement of 108 loads (55.61 loads of choice, 13.16 loads of select, 11.86 loads of trim and 27.62 loads of ground beef).
THURSDAY'S CATTLE CALL: Higher. Given that last week's trade was light and that the board is supportive, it's likely that feedlot managers will be able to at least hold the market steady, if not push it a tick higher.
FEEDER CATTLE:
The feeder cattle complex was also able to maintain its rally through the day -- feeling well supported by traders and the uptick in the live cattle complex. The spot November contract is nearing resistance at its 100-day moving average, which will likely require support like what the market saw today in order to conquer. October feeders closed $2.77 higher a $336.42, November feeders closed $3.40 higher at $334.30 and January feeders closed $4.27 higher at $327.67. At Bassett Livestock Auction in Bassett, Nebraska compared to the last sale two weeks ago, there was only a limited number of steers weighing 1,000 to 1,050 pounds but they traded $2.00 to $11.00 higher, while those weighing 950 pounds to 1,000 pounds sold $3.00 to $6.00 lower. Feeder cattle supply over 600 pounds was 100%. The CME feeder cattle index 9/29/2026: up $0.26, $338.03.
LEAN HOGS:
With trader support null and pork cutout values closing lower yet again, the lean hog contracts ended the day lower. October lean hogs closed $0.65 lower at $78.72, December lean hogs closed $0.27 lower at $69.42 and February lean hogs closed $0.45 lower at $70.17. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $1.02 with a weighted average price of $77.72 on 3,583 head. Pork cutouts total 354.81 loads with 313.84 loads of pork cuts and 40.97 loads of trim. Pork cutout values: down $2.82, $84.95. Wednesday's slaughter is estimated at 486,000 head -- steady with a week ago and 3,000 head more than a year ago. The CME lean hog index 9/28/2026: down $0.27, $80.94.
THURSDAY'S HOG CALL: Lower. At this point it's likely that packers have the vast majority of their needs already out of the cash market.
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