GENERAL COMMENTS:
The livestock complex is trading mostly lower into Friday's noon hour as the market continues to suffer from a lack of support. Some light trade has been reported in Nebraska at $210 live, but at this point it's looking like the bulk of this week's trade is done with in the fed cash cattle market. December corn is up 1 cent per bushel and December soybean meal is down $0.20. The Dow Jones Industrial Average is up 56.09 points and the NASDAQ is up 390.34 points.
LIVE CATTLE:
And the continued downtrend of the live cattle complex is alive and well in Friday's market as currently the contracts find themselves trading $1.00 lower into the day's afternoon. Some more light trade has been noted in Nebraska at $210, but otherwise the market remains quiet and it's looking like the bulk of this week's trade is essentially done with. So far this week Southern live cattle have traded at mostly $218, which is $6.00 lower than last week's weighted average, and Northern dressed cattle have traded at mostly $340 which is $8.00 to $25.00 lower than the previous week's weighted average. December live cattle are down $0.25 at $214.17, February live cattle are down $0.22 at $217.42 and April live cattle are down $0.52 at $219.90.
Boxed beef prices are mixed: choice down $0.83 ($360.73) and select up $1.07 ($353.39) with a movement of 96 loads (82.02 loads of choice, 2.86 loads of select, 3.47 loads of trim and 7.73 loads of ground beef).
FEEDER CATTLE:
The pain currently being seen in the live cattle complex is being felt in the feeder cattle market as well as its contracts are trading anywhere from $2.00 to $3.00 lower into today's noon hour. November feeders are down $3.17 at $321.87, January feeders are down $2.80 at $317.25 and March feeders are down $3.12 at $312.80. This lower trend is expected to continue until something worthwhile develops fundamentally in the cattle complex -- which will likely either be strong trade in the fed cash cattle market or a bullish Cattle on Feed report -- time will tell.
LEAN HOGS:
The only livestock complex seeing some sort of support are the deferred lean hog contracts that are trading just above steady while the nearby contracts continue to trade lower. Unfortunately until demand shows steady promise, it's unlikely that the nearby contracts will have much support from traders as demand remains an issue for the complex. December lean hogs are down $1.12 at $53.97, February lean hogs are down $0.72 at $59.45 and April lean hogs are down $0.07 at $67.05. The projected lean hog index for 11/5/2026 is down $1.29 at $61.57, and the actual index for 11/4/2026 is down $1.07 at $62.86. Hog prices are higher on the Daily Direct Morning Hog Report, up $4.67 with a weighted average price of $44.96. Pork cutouts totaled 174.81 loads with 160.30 loads of pork cuts and 14.52 loads of trim. Pork cutout values: up $2.91, $71.90.
No comments:
Post a Comment