Tuesday Midday Livestock Market Summary - Weaker Tones Have Contracts Trailing Lower

GENERAL COMMENTS:

Following Monday's modest rally in the cattle complex, traders are being a bit more cautious on Tuesday. Asking prices are noted at $230 in Texas but still no cash cattle trade has developed. December corn is up 2 3/4 cents per bushel and December soybean meal is down $4.30. The Dow Jones Industrial Average is down 141.40 points and NASDAQ is down 51.40 points.

LIVE CATTLE:

And without robust support from traders, and no cash cattle trade having developed yet this week the live cattle contracts are trading lower into Tuesday's noon hour. The only positive fundamental gesture shining through the market right now is the fact that midday boxed beef prices are higher. October live cattle are down $0.52 at $224.22, December live cattle are down $0.72 at $225.87 and February live cattle are down $1.12 at $228.47. No bids are on the table in the fed cash cattle market, but asking prices are noted in Texas at $230. Feedlot managers have been able to regain some moderate leverage in recent weeks, and it's likely again that this week trade will be delayed until the later half of the week as feedlot managers hope to hold the market steady at least.

Boxed beef prices are higher: choice up $0.98 ($376.54) and select up $1.55 ($355.68) with a movement of 68 loads (56.09 loads of choice, 3.08 loads of select, 3.06 loads of trim and 6.12 loads of ground beef).

FEEDER CATTLE:

Without continued support of the live cattle contracts, the feeder cattle complex is trading lower into Tuesday's noon hour. October feeders are down $1.75 at $341.72, November feeders are down $1.62 at $339.47 and January feeders are down $0.87 at $334.87. And until the live cattle complex turns higher again -- a slightly lower trend will likely continue in the feeder cattle market.

LEAN HOGS:

And even though midday pork cutout values are up slightly, traders are being a tick more cautious in Tuesday's market and are allowing a lower trend to take the lean hog contracts lower into the afternoon. December lean hogs are down $0.52 at $67.85, February lean hogs are down $0.95 at $69.35 and April lean hogs are down $1.05 at $74.02. The projected lean hog index for 10/12/2026 is down $0.57 at $75.94, and the actual index for 10/9/2026 is down $1.10 at $76.51. Hog prices on the Daily Direct Morning Hog Report average $71.36, ranging from $65 to $78 on 5,343 head and a five-day rolling average of $71.89. Pork cutouts total 163.02 load with 149.38 loads of pork cuts and 13.64 loads of trim. Pork cutout values: up $0.08, $83.05.