Wednesday Midday Livestock Market Summary - Mixed Tones Continue to be Seen in the Livestock Complex

GENERAL COMMENTS:

The livestock complex is again trading mixed as the cattle contracts drift lower while the lean hog complex has found some mild technical support. No cash cattle trade has developed yet but bids have surfaced in Kansas and Nebraska. December corn is up 2 3/4 cents per bushel and December soybean meal is down $0.40. The Dow Jones Industrial Average is up 139.70 points and the NASDAQ is down 4.16 points.

LIVE CATTLE:

Without any fed cash cattle trade having developed yet, and with morning boxed beef prices being lower, it doesn't come as a real surprise to see the live cattle contracts trading lower. October live cattle are down $2 at $228, December live cattle are down $2.57 at $228.35 and February live cattle are down $2 at $231.57. Some bids have surfaced in the fed cash cattle complex, but no trade has been reported just yet. Bids of $350 are currently on the table in Nebraska, and bids of $226 are being offered in Kansas - but feedlot managers have thus far passed on those bids as they hope to see cattle trade higher later this week.

Boxed beef prices are lower: choice down $2.51 ($369.71) and select down $1.71 ($357.14) with a movement of 72 loads (39.82 loads of choice, 7.78 loads of select, 9.70 loads of trim and 14.94 loads of ground beef).

FEEDER CATTLE:

The feeder cattle complex is also trading lower as trader desire to see greater fundamental support before they will likely advance the contracts any higher. October feeders are down $0.67 at $352.15, November feeders are down $2.62 at $347.45 and January feeders are down $4.22 at $342.92. Today's slight pull back isn't traders saying, "we regret pushing the market to this level," but rather instead that they desire to see greater support before they can confidently push the contracts any higher.

LEAN HOGS:

And although a couple of the nearby lean hog contracts are trading lower, most of the market is trading higher as traders have lent the market some mild support following the week's earlier decline. December lean hogs are down $2.12 at $59.90, February lean hogs are down $0.35 at $64.55 and April lean hogs are up $0.42 at $70.75. The projected lean hog index for 10/27/2026 is down $1.06 at $68.30, and the actual index for 10/26/2026 is down $0.70 at $69.36. Hog prices are lower on the Daily Direct Morning Hog Report, down $6 with a weighted average price of $55.82, ranging from $45 to $67 on 4,028 head and a five-day rolling average of $59.40. Pork cutouts total 190.70 loads with 161.79 loads of pork cuts and 28.92 loads of trim. Pork cutout values: up $3.11, $76.20.