Friday Midday Livestock Market Update - Early Tests in the Cash Cattle Market Are at $228 Live in the South

GENERAL COMMENTS:

Some light trade has developed in Texas this morning at $228, which is $6 higher than last week's weighted average, but that was only on a light test. More trade will need to develop ahead of the day's end if packers want to secure more inventory. December corn is down 3 cents per bushel and December soybean meal is down $2.00. The Dow Jones Industrial Average is down 93.99 points and the NASDAQ is down 390.25 points.

LIVE CATTLE:

What a day it has been for the live cattle complex. Not only is the futures market rallying, but thanks to feedlot managers' dedication and willingness to wait and be patient, some light trade has been noted at $228 in Texas, which is $6 higher than last week's weighted average. Traders believed the fed cash cattle market would trade higher this week, and lo and behold, the early tests of the market thus far have been higher indeed. Bids of $225 live and $350 dressed are currently on the table in Nebraska, and bids of $228 live are being offered in Kansas. Given that only a handful of cattle have traded thus far this week, packers will need to get more aggressive as the afternoon trades on in order to secure the inventory they need. October live cattle are up $1.37 at $227.32, December live cattle are up $1.10 at $228.35 and February live cattle are up $1.20 at $230.82.

Boxed beef prices are mixed: choice down $0.79 ($373.19) and select up $0.41 ($353.03) with a movement of 103 loads (83.83 loads of choice, 3.57 loads of select, 8.98 loads of trim and 6.59 loads of ground beef).

FEEDER CATTLE:

With the added support of seeing both the live cattle and fed cash cattle markets trading higher, the feeder cattle complex is also seeing a slightly higher trend as the market heads into Friday's afternoon. But I must say, I am slightly surprised to see that the feeder cattle contracts are rallying less than a dollar. Based on the market's behavior as of late, one would logically expect the market to be trading much higher with the support its currently seeing. But then again, the spot November contract is trading at its highest level since mid-July. October feeders are up $0.37 at $343.75, November feeders are up $0.10 at $342.05 and January feeders are up $0.52 at $338.42.

LEAN HOGS:

The lean hog complex is trading higher into Friday's noon hour as traders have taken note of the day's $5 advancement in pork cutout values. Weak pork demand has been the market's biggest hinderance as of late, so seeing an increase in demand is fantastic, let alone a $5 advancement. December lean hogs are up $0.45 at $67.02, February lean hogs are up $0.82 at $69.27 and April lean hogs are up $1.12 at $74.55. The projected lean hog index for 10/15/2026 is down $0.90 at $74.19 and the actual index for 10/14/2026 is down $0.66 at $75.09. Hog prices are lower on the Daily Direct Morning Hog Report, down $2.06 with a weighted average price of $70.35, ranging from $61.00 to $70.35 on 640 head and a five-day rolling average of $70.60. Pork cutouts totaled 180.60 loads with 169.44 loads of pork cuts and 11.16 loads of trim. Pork cutout values: up $5.12, $82.67.