GENERAL COMMENTS:
The livestock complex is trading mostly lower into midday Wednesday as the market is hoping for greater fundamental support to arise. Asking prices are noted at $225 in the South, but no trade has developed yet. December corn is down 4 1/4 cents per bushel and December soybean meal is down $0.50. The Dow Jones Industrial Average is down 411.14 points and the NASDAQ is down 201.50 points.
LIVE CATTLE:
Although the live cattle contracts started the day off stronger, the market is now trading lower into midday Wednesday as traders aren't confident that any immediate fundamental support is going to develop, and don't feel comfortable moving the market any higher of their own accord. October live cattle are down $1.52 at $215.50, December live cattle closed $1.00 lower at $218.22 and February live cattle closed $0.70 lower at $219.75. The cash cattle market remains quiet heading into Wednesday's noon hour, with no bids having surfaced just yet. Asking prices are noted at $225 in the South but are still not well established in the North. It's likely that trade will be delayed until later in the week.
Boxed beef prices are mixed: choice up $4.61 ($382.18) and select down $0.34 ($355.05) with a movement of 84 loads (39.72 loads of choice, 6.86 loads of select, 25.20 loads of trim and 12.69 loads of ground beef).
FEEDER CATTLE:
And as expected, if the live cattle contracts are trading lower, so are the feeder cattle contracts. September feeders are down $0.72 at $328.12, October feeders are down $0.92 at $324.60 and November feeders are down $0.22 at $320.22. With the market's 40-day moving average looming overhead, it's unlikely that the contracts will trade much higher unless the live cattle complex grows stronger, as that technical resistance currently stands as too much of a barrier for trades to rival.
LEAN HOGS :
The lean hog complex is back to trading lower as traders sit and wait, hoping to see greater support develop. October lean hogs are down $1.60 at $82.65, December lean hogs are down $0.87 at $74.17 and February lean hogs are down $1.00 at $76.65. It is supportive that midday pork cutout values are higher, but traders not only need to see higher prices but also consistency in demand. The projected lean hog index for 9/8/2026 is down $0.86 at $88.79 and the actual index for 9/7/2026 is down $0.89 at $89.65. Hog prices average $87.72 on the Daily Direct Morning Hog Report, ranging from $81.00 to $89.50 on 2,692 head, with a five-day rolling average of 87.57. Pork cutouts total 223.10 loads, with 194.50 loads of pork cuts and 28.60 loads of trim. Pork cutout values: up $2.28, $94.10.
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