The livestock complex ended the day mixed, with the cattle contract falling lower on a lack of fundamental support in this week's market and upon hearing news that the Santa Teresa, New Mexico, port is scheduled to reopen to Mexican cattle imports Sept. 24. Meanwhile, the lean hog complex was lent some technical support from traders. December corn is down 1 1/2 cents per bushel and December soybean meal is up $0.20. The Dow Jones Industrial Average is down 631.21 points and the NASDAQ is down 3.15 points.
LIVE CATTLE:Between not seeing immediate fundamental support in today's market, mixed with the news that spread that the Santa Teresa, New Mexico, port is scheduled to reopen Sept. 24, the live cattle complex drifted lower. Unfortunately, today's descent did at times have the market trading below its 40-day moving average, but thankfully the market didn't close below that threshold. October live cattle closed $2.25 lower at $218.45, December live cattle closed $3.15 lower at $220.20 and February live cattle closed $3.77 lower at $220.90. Some light (very light) cash cattle trade was noted in the North at $350, but not enough cattle traded to say that any sort of an accurate test has been established yet for the week. And with the board's recent pressure, it's anyone's guess at this point whether or not the market will be able to achieve higher prices as initially hoped.
Wednesday's slaughter is estimated at 102,000 head -- 7,000 head less than a week ago and 16,000 head less than a year ago.
Boxed beef prices closed lower: choice down $0.27 ($375.81) and select down $1.79 ($354.57) with a movement of 119 loads (73.06 loads of choice, 14.38 loads of select, 16.01 loads of trim and 15.75 loads of trim).
THURSDAY'S CATTLE CALL: Steady. Given the board is trading lower and that on Friday there's another Cattle on Feed report set to be released, this week's market may simply trade steady.
FEEDER CATTLE:The feeder cattle complex also followed the direction of the live cattle complex, trading lower thanks to yet another scheduled date of a port reopening to Mexican cattle imports. The onset of the news pushed the market lower as increasing imports could have a negative effect on domestic feeder cattle prices. September feeders closed $1.80 lower at $338.47, October feeders closed $4.20 lower at $329.65 and November feeders closed $5.80 lower at $323.10. At the Philip Livestock Auction in Philip, South Dakota, compared to last week, feeder steers weighing 500 to 550 pounds sold $10.00 higher, but other classes of feeder steers weren't well tested. Feeder heifers weighing 900 to 950 pounds traded $10.00 to $12.00 stronger, heifers weighing 900 to 1,000 pounds sold $8.00 to $10.00 higher, and heifers weighing 1,000 to 1,050 pounds sold $10.00 to $12.00 higher. Feeder cattle supply over 600 pounds was 46%. The CME feeder cattle index 9/15/2026: up $1.16, $342.74.
LEAN HOGS:The lean hog complex ended the day mostly higher, as traders did find some technical support in today's market. October lean hogs closed $0.40 lower at $78.67, December lean hogs closed $0.30 higher at $69.95 and February lean hogs closed $0.15 lower at $71.75. Today's slight support was extended to the market by traders, but if there's no improvement in fundamental support in the coming days, then the market could be subject to trading lower once again. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $1.98 with a weighted average price of $82.60, ranging from $81.00 to $84.00 on 6,699 head and a five-day rolling average of $84.19. Pork cutouts totaled 329.13 loads, with 289.10 loads of pork cuts and 40.03 loads of trim. Pork cutout values: down $1.15, $86.35. Wednesday's slaughter is estimated at 488,000 head -- 2,000 head more than a week ago and 4,000 head less than a year ago. The CME lean hog index 9/14/2026: down $0.61, $86.60.
THURSDAY'S HOG CALL: Lower. Given that pork cutout values are lower again, it's unlikely that the cash market will see much more support this week.
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