Tuesday Midday Livestock Market Summary - Cattle Rally Upon Red Dye Diesel Executive Order

GENERAL COMMENTS:

The livestock complex is trading mixed with the cattle complex reacting to the announcement of the red-dye diesel executive order, but the lean hog complex is remaining cautious still. No cash cattle trade has developed yet. December corn is up 8 1/2 cents per bushel and December soybean meal is up $7.20. The Dow Jones Industrial Average is up 324.34 points and the NASDAQ is up 179.99 points.

LIVE CATTLE:

The live cattle complex is off like a rocket heading into Tuesday's noon hour as the complex is successfully fronting at $3.00 to $4.00 rally into the afternoon. More than anything else the excitement in the marketplace likely stems from President Trump's announcement that he's going to sign an executive order to officially waive the off-road requirement and allow anyone to purchase tax-free, red-dyed diesel. With fuel costs on the forefront of everyone's mind, and especially those involved in agriculture, the announcement brings some market excitement. October live cattle are up $2.57 at $219.82, December live cattle are up $3.17 at $223.15 and February live cattle are up $3.87 at $225.92. Still no trade has developed in the fed cash cattle market as both bids and asking prices remain elusive. Trade will likely be delayed until later in the week.

Boxed beef prices are higher: choice up $4.20 ($382.46) and select up $2.05 ($360.62) with a movement of 49 loads (40.37 loads of choice, 5.27 loads of select, zero loads of trim and 2.88 loads of ground beef).

FEEDER CATTLE:

And upon hearing about the red-dye diesel announcement, and upon seeing the live cattle contracts trading higher, the feeder cattle complex couldn't help itself to trade higher too. October feeders are up $4.27 at $338.12, November feeders are up $5.45 at $335.60 and January feeders are up $6.72 at $329.32. Currently the spot November contract is trading above its 100-day moving average. It will be interesting to see if the complex can hold above that threshold ahead of the day's close.

LEAN HOGS:

And the lean hog complex is back to trading slightly lower, unsure if the market possess enough support to break through the resistance at $70.00. Thankfully midday pork cutout values are higher, and if support remains stable then there's a chance that traders could try to push the contracts higher, but at this point the market remains cautious not wanting to be over zealous. October lean hogs are up $0.22 at $78.07, December lean hogs are down $0.45 at $70.50 and February lean hogs are down $1.07 at $71.62. The projected lean hog index for 10/5/2026 is down $0.41 at $79.22 and the actual index for 10/2/2026 is down $0.57 at $79.63. Hog prices are lower on the Daily Direct Morning Hog Report, down $2.43 with a weighted average price of $76.09, ranging from $74.00 to $80.00 on 3,682 head and a five-day rolling average of $76.75. Pork cutouts total 162.06 loads with 144.75 loads of pork cuts and 17.31 loads of trim. Pork cutout values: up $1.17, $87.18.