The livestock complex ended Monday mixed again, with fundamental support desperately needed to give traders the reassurance they yearn for. New showlists for the week are lower in Texas, but slightly higher in Nebraska, and noticeably higher in Kansas. December corn is up 1/2 cent per bushel and December soybean meal is down $5.00. The Dow Jones Industrial Average is up 213.67 points and the NASDAQ is down 272.68 points.
With the feeling of last week's dramatic downturn still fresh on everyone's mind, the live cattle contracts ended Monday lower again as traders desperately need to see some fundamental support arise as the market's confidence was shaken last week. December live cattle closed $1.25 lower at $219.70, February live cattle closed $0.67 lower at $223.52 and April live cattle closed $0.47 lower at $226.15. No cash cattle trade developed throughout the day. New showlists for the week are lower in Texas, but slightly higher in Nebraska, and noticeably higher in Kansas. Last week, Southern live cattle were mostly marked at $224, which is $3.00 lower than the previous week's weighted average, but the Northern dressed cattle traded anywhere from $348 to $365, which was $13.00 lower than the previous week's weighted average.
Monday's slaughter is estimated at 104,000 head -- 2,000 head less than a week ago and 6,000 head less than a year ago.
Boxed beef prices closed higher: choice up $0.38 ($365.04) and select up $2.96 ($354.94) with a movement of 81 loads (43.12 loads of choice, 10.50 loads of select, 16.79 loads of trim and 10.50 loads of ground beef).
TUESDAY'S CATTLE CALL: Steady to somewhat lower. With the market's confidence shaken last week, it's likely that cash prices will trade steady at best, but they could trade lower later this week.
Although the live cattle complex ended Monday mostly lower, the feeder cattle complex was able to keep its slightly higher position through the day's close. November feeders closed $0.65 higher at $338.42, January feeders closed $0.90 higher at $332.67 and March feeders closed $1.02 higher at $328.30. But even so, the damage done to the market last week in terms of overall confidence pushed feeder cattle prices lower in sale barns across the country. At the Joplin Regional Stockyards in Carthage, Missouri, at their mid-session point, feeder steers were trading $4.00 to $10.00 lower and feeder heifers were trading steady. Feeder cattle supply over 600 pounds was 46%. The CME feeder cattle index 10/30/2026: down $0.77, $350.46.
The lean hog complex was able to end the day slightly higher, as traders merely allowed the market to chop sideways, hoping that pork demand will remain strong throughout the week. And while yes, pork cutout values did close higher today, before traders can put much confidence in the demand aspect of the market, they're going to need to see multiple days of stronger demand. December lean hogs closed $0.70 lower at $58.17, February lean hogs closed $0.12 higher at $63.87 and April lean hogs closed $0.15 higher at $69.65. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $10.28 with a weighted average price of $50.01 on 3,655 head. Pork cutouts totaled 310.84 loads, with 272.50 loads of pork cuts and 38.34 loads of trim. Pork cutout values: up $2.18, $72.28. Monday's slaughter is estimated at 492,000 head -- 8,000 head more than a week ago and 4,000 head less than a year ago. The CME lean hog index 10/29/2026: up $0.27, $66.57.
TUESDAY'S HOG CALL: Higher. Given that prices were so much lower today, it's likely that packers will show the market a tick more interest on Tuesday.
