GENERAL COMMENTS:
The livestock complex ended the day stronger thanks to some added fundamental support late in the week. At the time of this writing, only a handful of trades developed in the fed cash cattle market, but trade was higher. December corn is down 3 3/4 cents per bushel and December soybean meal is down $2.70. The Dow Jones Industrial Average is down 175.99 points and the NASDAQ is down 573 points.
From Friday to Friday, livestock futures scored the following changes: October live cattle up $2.58, December live cattle up $1.30; October feeder cattle down $0.23, November feeder cattle down $0.05; December lean hogs down $0.90, December corn down $0.06.
LIVE CATTLE:
Lo and behold, the trader's belief that the fed cash cattle market would shine through and lend the complex support ended up being true! And although at the time of this writing there's only been a small trade develop the trade that has been reported has been higher indeed. So far this week, Southern live cattle have traded at mostly $228, which is $5 higher than last week's weighted average and Northern dressed cattle have been marked anywhere from $350 to $355, but mostly at $355, which is $10 higher than last week's weighted average. October live cattle closed $1.60 higher at $227.55, December live cattle down $1.10, higher at $228.35 and February live cattle closed $1.25 higher at $230.87.
Friday's slaughter is estimated at 102,000 head -- 4,000 head more than a week ago and 9,000 head more than a year ago. Saturday's slaughter is projected to be around 21,000 head. And the week's total slaughter is estimated to be around 553,000 head -- 18,000 head more than a week ago and 13,000 head less than a year ago.
Boxed beef prices closed mixed: choice down $1.67 ($372.31) and select up $0.43 ($353.05) with a movement of 135 loads (103.34 loads of choice, 5.36 loads of select, 15.43 loads of trim and 11.22 loads of ground beef).
MONDAY'S CATTLE CALL: Steady. Before we can anticipate what next week's trade may do, we need to see what the weighted averages of this week's trade amount to.
FEEDER CATTLE:
Although the feeder cattle complex didn't rally as aggressively as the live cattle complex did, it was still able to end the day higher. October feeders closed $0.25 higher at $343.62, November feeders closed $0.05 lower at $341.90 and January feeders closed $0.37 higher at $338.27. Ahead of the weekend, it is worth noting that the spot November contract is trading at its highest price point since mid-July. The Oklahoma Weekly Cattle Auction Summary shared that compared to last week, feeder steers traded unevenly steady, but feeder heifers traded $6 to $9 higher. Steer calves over 450 pounds sold unevenly steady, but those under 450 pounds traded $5 to $15 higher. Heifer calves sold $5 to $15 higher. Feeder cattle supply over 600 pounds was 61%. The CME feeder cattle index Oct. 15, 2026: up $0.90, $343.54.
LEAN HOGS:
And with the late-week rally in pork demand -- even the lean hog contracts were able to end the day higher. December lean hogs closed $0.35 higher at $66.92; February lean hogs closed $0.77 higher at $69.22 and April lean hogs closed $1.25 higher at $74.67. The biggest advancements seen this afternoon on the pork report were the $11.17 rally in the rib and the $7.81 rally in the belly. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $4.61 with a weighted average price of $67.09 on 1,605 head. Pork cutouts totaled 273.44 loads, with 257.69 loads of pork cuts and 15.75 loads of trim. Pork cutout values: up $3.00, $80.55. Friday's slaughter is estimated at 472,000 head -- 5,000 head less than a week ago and 27,000 head more than a year ago. Saturday's slaughter is projected to be around 110,000 head. The CME lean hog index Oct. 14, 2026: down $0.66, $75.09.
MONDAY'S HOG CALL: Steady. On most Mondays, packers don't show the market much interest, but given that pork demand is stronger, they may pay the market a tick more interest.
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