Thursday Midday Livestock Market Summary - Bids of $226 Surface in Kansas

GENERAL COMMENTS:

The livestock complex is trading mixed into Thursday's noon hour, with the cattle contracts seeing greater trader support and only half of the lean hog contracts are trading higher into the afternoon. Bids of $226 have surfaced in Kansas, but no trade has developed yet. December corn is down 3/4 cent per bushel and December soybean meal is down $2.20. The Dow Jones Industrial Average is up 450.03 points and the NASDAQ is down 146.90 points.

LIVE CATTLE:

Some technical optimism has resurfaced in the live cattle complex as the market is trading well above $1 higher into Thursday's noon hour. More than anything, traders seem optimistic that there may be a chance that this week's fed cash cattle market may be able to trade steady, if not a tick higher -- time will tell. October live cattle are up $1.70 at $225.60, December live cattle are up $1.65 at $226.72 and February live cattle are up $1.47 at $228.85. Bids have surfaced in Kansas at $226, but otherwise, the fed cash cattle market remains quiet at this point in time. With the board trading higher, it's likely that feedlot managers will wait another day before they trade cattle in hopes of seeing prices trade stronger again this week. Asking prices are noted at $230 in Texas, but are not established in the other feeding regions.

Boxed beef prices are lower: choice down $0.78 ($375.72) and select down $3.63 ($354.84) with a movement of 69 loads (49.89 loads of choice, 6.61 loads of select, 7.38 loads of trim and 4.96 load of ground beef).

FEEDER CATTLE:

After seeing the live cattle contracts turn higher, the feeder cattle complex couldn't miss out on an opportunity to trade higher itself. Currently, the feeder cattle contracts are trading anywhere from $1 to $3 higher into Thursday's noon hour. As long as the live cattle contracts continue to trade higher, it's likely that the feeder cattle contracts will too. October feeders are up $1.15 at $342.10, November feeders are up $2.07 at $340.52 and January feeders are up $2.72 at $336.32.

LEAN HOGS:

The lean hog contracts are trading mixed into Thursday's noon hour, with the nearby contracts currently trading slightly higher while the deferred contracts continue to trade a tick lower. Pork cutout values are lower again, which continues to be the market's biggest hinderance. December lean hogs are up $0.17 at $66.25, February lean hogs are up $0.17 at $68.02 and April lean hogs are up $0.05 at $73.10. The projected lean hog index for 10/14/2026 is down $0.66 at $75.09, and the actual index for 10/13/2026 is down $0.19 at $75.75. Hog prices are higher on the Daily Direct Morning Hog Report, up $2.61 with a weighted average price of $71.66, ranging from $62.00 to $78.00 on 625 head and a five-day rolling average of $79.89. Pork cutouts total 137.93 loads with 126.96 loads of pork cuts and 10.97 loads of trim. Pork cutout values: down $0.72, $78.73.