GENERAL COMMENTS:
The livestock complex ended the day mixed, with the cattle contracts closing lower while the lean hog contracts rallied. New showlists are lower in Texas and Nebraska, but slightly higher in Kansas. December corn is down 1/2 cent per bushel and December soybean meal is steady. The Dow Jones Industrial Average is up 90.94 points and the NASDAQ is up 286.45 points.
LIVE CATTLE:
The live cattle complex ended the day lower as traders were fearful of being too supportive of the complex early in the week. But if Monday's boxed beef demand is any indication of the support that the market will at least see from boxed beef prices, that's a good start. October live cattle closed $1.60 lower at $217.25, December live cattle closed $1.50 lower at $219.97 and February live cattle closed $1.10 lower at $222.05. No cash cattle trade developed throughout the day, and both bids and asking prices remain elusive at this point. New showlists are lower in Texas and Nebraska, but slightly higher in Kansas. Monday's slaughter is estimated at 105,000 head -- 10,000 head more than a week ago and 5,000 head more than a year ago.
Last week Southern live cattle traded at mostly $221, which is steady with the previous week's weighted average, and Northern dressed cattle traded at $345 to $350, which is also steady with the previous week's weighted average. Last week's negotiated cash cattle trade totaled 88,019 head. Of which 80% (70,390 head) were committed to the market's nearby delivery, while the remaining 20% (17,629 head) were committed to the market's deferred delivery option.
Boxed beef prices closed higher: choice up $4.07 ($378.26) and select up $4.08 ($358.57) with a movement of 67 loads (45.86 loads of choice, 9.20 loads of select, zero loads of trim and 11.78 loads of ground beef).
TUESDAY'S CATTLE CALL: Steady to somewhat lower. Given that packers were able to buy over 88,000 head in last week's fed cash cattle market, it likely means that they won't need to be as aggressive in this week's cash sector.
FEEDER CATTLE:
And in keeping in alignment with the live cattle complex the feeder cattle contracts also ended the day lower. October feeders closed $0.77 lower at $333.85, November feeders closed $1.02 lower at $330.12 and January feeders closed $1.95 lower at $322.60. At the Joplin Regional Stockyards in Carthage, Missouri, compared to last week and at their mid-session point, last week feeder steers and heifers were trading steady to $5.00 lower. Feeder cattle supply over 600 pounds was 59%. The CME feeder cattle index 10/2/2026: up $0.92, $337.76.
LEAN HOGS:
Meanwhile, with the stronger uptick in pork demand, the lean hog contracts were able to flourish throughout Monday's trade. October lean hogs closed $0.02 lower at $77.85, December lean hogs closed $0.82 higher at $70.95 and February lean hogs closed $1.37 higher at $72.70. Pork cutouts totaled 260.16 loads, with 236.84 loads of pork cuts and 23.32 loads of trim. Pork cutout values: up $1.53, $86.01. Hog prices closed $0.42 lower on the Daily Direct Afternoon Hog Report, with a weighted average price of $76.81 on 1,539 head. Monday's slaughter is estimated at 493,000 head -- 9,000 head more than a week ago and 2,000 head more than a year ago. The CME lean hog index 10/1/2026: down $0.51, $80.20.
TUESDAY'S HOG CALL: Higher. Given that there was more interest in pork cuts today, it's likely that packers could be more active in Tuesday's cash market.
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