Wednesday Midday Livestock Market Summary - Without Stronger Fundamental Support, Contracts Trade Lower

GENERAL COMMENTS:

Without stronger support from the market's fundamentals, all of the livestock contracts are trading lower into Wednesday's noon hour. No cash cattle trade has not developed this week, yet. December corn is down 2 1/2 cents per bushel and December soybean meal is down $4.30. The Dow Jones Industrial Average is down 184.01 points and the NASDAQ is down 439.22 points.

LIVE CATTLE:

And again without any trade having developed yet in the fed cash cattle market -- traders are merely allowing the live cattle contracts to chop sideways through Wednesday's trade. It is supportive from a fundamental sense that boxed beef prices are higher, but traders are really interested in seeing what's going to become of this week's cash market. October live cattle are down $0.52 at $224.10, December live cattle are down $1.02 at $225.32 and February live cattle are down $0.97 at $227.60. No cash cattle trade has developed yet, but asking prices are noted at $230 in Texas. It's likely that trade will be delayed for at least another day, if not two.

Boxed beef prices are higher: choice up $0.43 ($375.58) and select up $5.34 ($359.01) with a movement of 65 loads (28.06 loads of choice, 8.68 loads of select, 6.71 loads of trim and 21.95 loads of ground beef).

FEEDER CATTLE:

And without grand support from the live cattle complex, again Wednesday the feeder cattle contracts are trailing lower into the day's afternoon. October feeders are down $2.10 at $340.97, November feeders are down $2.27 at $338.75 and January feeders are down $1.65 at $334.22. And until support improves from either the live cattle contracts or the fed cash cattle market -- this steady/sideways chop will likely remain the feeder cattle market's trend.

LEAN HOGS:

Although midday pork cutout values are up a tick, traders simply aren't confident in the market's demand scenario which is why the contracts are trading lower yet again. October lean hogs are down $0.12 at $75.47, December lean hogs are down $1.32 at $66.70 and February lean hogs are down $1.35 at $68.25. And to be specific -- the spot December lean hog contract is trading at a contract low today. The projected lean hog index for 10/13/2026 is down $0.19 at $75.75 and the actual index for 10/12/2026 is down $0.57 at $75.94. Hog prices are lower on the Daily Direct Morning Hog Report, down $2.31 with a weighted average price of $69.05, ranging from $64.00 to $78.00 on 3,248 head and a five-day rolling average of $70.96. Pork cutouts total 175.28 loads with 151.66 loads of pork cuts and 23.62 loads of trim. Pork cutout values: up $0.59, $81.27.