GENERAL COMMENTS:
Wednesday ended up being a dull and dismal day for the livestock complex with little to no fundamental support surfacing, which led all three of the markets to end the day lower. No cash cattle trade developed throughout the day. December corn is down 6 cents per bushel and December soybean meal is up $11.00. The Dow Jones Industrial Average is down 341.41 points and the NASDAQ is down 61.20 points.
LIVE CATTLE:
The live cattle complex ended the day lower as traders didn't see enough immediate support in today's market to justifiably push the market higher. October live cattle closed $0.37 higher at $221.60, December live cattle closed $0.32 lower at $223.77 and February live cattle closed $0.62 lower at $226.55. No cash cattle trade developed throughout Wednesday's hours, and no bids were offered. Trade could begin to develop on Thursday but will likely be delayed until Friday.
Wednesday's slaughter is estimated at 108,000 head -- 10,000 head more than a week ago and 9,000 head less than a year ago.
Boxed beef prices closed lower: choice down $3.31 ($375.62) and select down $2.13 ($354.21) with a movement of 114 loads (75.99 loads of choice, 15.22 loads of select, 6.78 loads of trim and 15.73 loads of ground beef).
THURSDAY'S CATTLE CALL: Lower. Given that packers were able to buy over 88,000 head in last week's market, they won't likely participate much in this week's trade.
FEEDER CATTLE:
The feeder cattle complex also ended the day lower, as traders were not willing to move the feeder cattle contracts higher without the support of the live cattle complex. October feeders closed $2.35 lower at $338.15, November feeders closed $2.47 lower at $335.80 and January feeders closed $1.42 lower at $330.40. At the Winter Livestock Auction in La Junta, Colorado, compared to last week, feeder steers under 450 pounds sold sharply lower, while feeder steers over 450 pounds sold sharply higher. Feeder heifers under 550 pounds sold evenly steady, while heifers over 550 pounds sold sharply higher. Feeder cattle supply over 600 pounds was 32%. The CME feeder cattle index 10/6/2026: up $0.65, $337.87.
LEAN HOGS:
The lean hog complex ended the day lower as well, as traders were left with no other sound option but to send the contracts lower upon seeing afternoon pork cutout values lower. October lean hogs closed $1.00 lower at $76.92, December lean hogs closed $1.27 lower at $69.10 and February lean hogs closed $1.40 lower at $69.92. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $3.30 with a weighted average price of $72.44 on 1,801 head. Pork cutouts totaled 309.25 loads, with 267.54 loads of pork cuts and 41.71 loads of trim. Pork cutout values: down $2.13, $81.71. Wednesday's slaughter is estimated at 495,000 head -- 16,000 head more than a week ago and 11,000 head more than a year ago. The CME lean hog index 10/5/2026: down $0.41, $79.22.
THURSDAY'S HOG CALL: Lower. With pork cutout values weaker, it's unlikely packers are going to get more aggressive in this week's market at this point.
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