GENERAL COMMENTS:
By Monday's close, both the live cattle and lean hog contracts were able to round out the day mostly higher, while the feeder cattle contracts still closed lower. New showlists for the week are lighter in Texas and Kansas, but steady in Nebraska. December corn is up 3 1/4 cents per bushel and December soybean meal is up $3.10. The Dow Jones Industrial Average is up 168.59 points and the NASDAQ is down 116.22 points.
LIVE CATTLE:
Although a couple of the nearby live cattle contracts still ended the day lower, all in all, it ended up being a mostly supportive day again for the live cattle contracts, as most of the contracts ended the day higher. As traders continue to believe in the market's strong underlying fundamentals, they remain hopeful that again this week fed cash cattle prices may be able to trade steady if not a tick higher. October live cattle closed $0.22 lower at $224.75, December live cattle closed $0.45 lower at $226.60 and February live cattle closed $0.10 higher at $229.57. No cash cattle trade developed throughout the day, and both bids and asking prices remain elusive at this point. New showlists for the week are lighter in Texas and Kansas, but steady in Nebraska. Monday's slaughter is estimated at 106,000 head -- 4,000 head more than a week ago and 3,000 head more than a year ago.
Last week Northern dressed cattle traded at mostly $345, which is steady with the previous week's weighted average. Last week Southern live cattle traded at mostly $222, which is steady to $2.00 higher than the previous week's weighted average. Some live trade was even marked as high as $226! Last week's negotiated cash cattle trade totaled 67,701 head. Of that, 79% (53,354 head) were committed to the market's nearby delivery option, while the remaining 21% (14,347 head) were committed to the deferred delivery option.
Boxed beef prices closed mixed: choice up $2.21 ($375.56) and select down $0.17 ($354.13) with a movement of 80 loads (46.41 loads of choice, 11.44 loads of select, 6.91 loads of trim and 15.71 loads of ground beef).
TUESDAY'S CATTLE CALL: Steady. Given that packers seem more short bought than originally assumed, there's a chance that prices could hold steady again this week.
FEEDER CATTLE:
Although most of the live cattle contracts were able to end the day higher, the feeder cattle complex wasn't able to join the party before the day's close, as most of its contracts ended the day lower. October feeders closed $0.37 lower at $343.47, November feeders closed $0.85 lower at $341.10 and January feeders closed $0.60 lower at $335.75. At the Oklahoma National Stockyards in Oklahoma City, Oklahoma, compared to last week and at their mid-session point, feeder steers over 750 pounds traded steady to $3.00 higher, but those under 750 pounds traded $5.00 to $10.00 higher. Feeder heifers were trading $2.00 to $7.00 higher. Steer calves were trading $10.00 to $20.00 higher. Heifer calves over 500 pounds were trading $4.00 to $8.00 higher, and those under 500 pounds were selling $10.00 to $20.00 higher. Feeder cattle supply over 600 pounds was 68%. The CME feeder cattle index 10/9/2026: up $1.55, $338.62.
LEAN HOGS:
Thankfully, Monday lent the lean hog complex some much-needed relief as the contracts rounded out the day fully higher. And with the uptick in pork demand, traders may elect to continue to support the contracts later this week. October lean hogs closed $0.55 higher at $75.60, December lean hogs closed $0.55 higher at $68.37 and February lean hogs closed $1.05 higher at $70.30. Pork cutouts totaled 271.81 loads, with 251.63 loads of pork cuts and 20.18 loads of trim. Pork cutout values: up $2.47, $82.97. Hog prices ended the day $3.24 lower on the Daily Direct Afternoon Hog Report, with a weighted average price of $71.02 on 687 head. Monday's slaughter is estimated at 498,000 head -- 5,000 head more than a week ago and 11,000 head more than a year ago. The CME lean hog index 10/8/2026: down $0.80, $77.61.
TUESDAY'S HOG CALL: Higher. With there being a tick more interest in pork demand early this week, there's a chance that packers could be more aggressive in the market on Tuesday.
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