The livestock complex is again trading mixed as traders are helping drive the cattle contracts higher, but the lean hog contracts are trading lower. Bids have surfaced in Nebraska at $345, but given that asking prices are noted at $360, it's unlikely that trade will develop soon. December corn is down 20 1/2 cents per bushel and December soybean meal is down $0.10. The Dow Jones Industrial Average is down 52.32 points and NASDAQ is up 254.77 points.
LIVE CATTLE:Even though midday boxed beef prices are mixed and we've yet to see much trade in the fed cash cattle market, the live cattle contracts are trading higher into Wednesday's noon hour. October live cattle are up $2.22 at $219.45, December live cattle are up $2.45 at $223.25 and February live cattle are up $2.52 at $225.45. Still no new trade has developed in the fed cash cattle market, but some early bids and asking prices have surfaced ahead of Wednesday's noon hour. Asking prices are noted in eastern Nebraska at $360, and some bids have also surfaced in Nebraska at $345. But given that there's quite a difference between the two prices, it's likely that trade will be delayed until later in the week.
Boxed beef prices are mixed: choice up $0.01 ($382.67) and select down $2.41 ($362.07) with a movement of 70 loads (37.07 loads of choice, 7.15 loads of select, 7.64 loads of trim and 18.41 loads of ground beef).
FEEDER CATTLE:Thankfully with the added support of the live cattle contracts trading higher, the feeder cattle contracts are also pushing a substantial $4.00 rally into Wednesday's noon hour. October feeders are up $3.55 at $337.20, November feeders are up $4.00 at $334.90 and January feeders are up $4.65 at $328.05. Given that the board's support is significant, it's likely that feeder cattle prices may even see a tick more support from buyers Wednesday.
LEAN HOGS :Meanwhile the lean hog complex continues to be stuck in a sideways, choppy trading range as traders aren't seeing enough support. And with midday pork cutout values lower, it's likely that this lower trend will be kept through the afternoon. October lean hogs are down $0.42 at $78.95, December lean hogs are down $0.15 at $69.55 and February lean hogs are down $0.32 at $70.30. The projected lean hog index for 9/29/2026 is up $0.01 at $80.95 and the actual index for 9/28/2026 is down $0.27 at $80.94. Hog prices are lower on the Daily Direct Morning Hog Report, down $0.55 with a weighted average price of $77.46, ranging from $69.00 to $79.00 on 1,908 head and a five-day rolling average of $78.10. Pork cutouts totaled 177.49 loads with 153.61 loads of pork cuts and 23.88 loads of trim. Pork cutout values: down $0.28, $87.49.
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