Wednesday Midday Livestock Market Summary - Traders Hope to See Fundamental Support Improve

GENERAL COMMENTS:

Traders have lessened their support of the live cattle complex as they hope to see greater fundamental support develop. There's not been any fed cash cattle trade develop yet. December corn is down 2 cents per bushel and December soybean meal is up $2.80. The Dow Jones Industrial Average is up 109.28 points and the NASDAQ is up 533.96 points.

LIVE CATTLE:

Traders have mildly pulled back their support from the live cattle complex as currently only a handful of the deferred 2027 contracts are trading higher into Wednesday's noon hour. December live cattle are down $0.97 at $218.25, February live cattle are down $0.42 at $222.15 and April live cattle are down $0.02 at $225.10. And there's a chance that traders could simply allow the contracts to now trade sideways or slightly lower until greater fundamental support arises. There's yet to be any trade in the fed cash cattle market, and currently no bids or asking prices are noted.

Boxed beef prices are lower: choice down $2.38 ($360.60) and select down $2.21 ($349.41) with a movement of 55 loads (35.05 loads of choice, 5.40 loads of select, 5.96 loads of trim and 9.04 loads of ground beef).

FEEDER CATTLE:

And although the live cattle contracts are trading slightly lower, the feeder cattle contracts have thus far been able to maintain their slightly stronger position. November feeders are up $1.35 at $331.70, January feeders are up $0.45 at $327.12 and March feeders are up $0.15 at $323.50. But given how closely the feeder cattle complex has followed the live cattle market over the last couple of months, it wouldn't be surprising to see the contracts trade lower if the live cattle complex doesn't see an improvement in its position soon.

LEAN HOGS:

And although midday pork cutout values may be up mildly, the lean hog contracts are still trading lower as a mere $0.23 rally isn't enough to dig the market out of the hole it's plummeted into. December lean hogs are down $0.15 at $55.65, February lean hogs are down $0.52 at $60.22 and April lean hogs are down $0.35 at $66.55. The projected lean hog index for 11/10/2026 is down $0.21 at $59.78, and the actual index for 11/9/2026 is down $0.29 at $59.99. Hog prices are unavailable on the Daily Direct Morning Hog Report because of confidentiality. However, we can see that only 1,415 head have traded and that the market's five-day rolling average sits at $40.87. Pork cutouts total 196.88 loads with 176.91 loads of pork cuts and 19.97 loads of trim. Pork cutout values: up $0.23, $69.75.