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DTN Midday Livestock Comments 10/02 11:38
Cattle Dip Lower While Hogs Rally into Friday's Noon Hour
Some light trade has been noted this morning in Texas at $226, and bids are
on the table currently in Kansas at $226. But even with the moderate support of
the fed cash cattle market trading higher in the South -- the cattle contracts
are trading lower into Friday's noon hour. December corn is down 5 1/2 cents
per bushel and December soybean meal is down $6.30. The Dow Jones Industrial
Average is up 177.50 points and the NASDAQ is up 326.95 points.
ShayLe Stewart
DTN Livestock Analyst
GENERAL COMMENTS:
Some light trade has been noted this morning in Texas at $226, and bids are
on the table currently in Kansas at $226. But even with the moderate support of
the fed cash cattle market trading higher in the South -- the cattle contracts
are trading lower into Friday's noon hour. December corn is down 5 1/2 cents
per bushel and December soybean meal is down $6.30. The Dow Jones Industrial
Average is up 177.50 points and the NASDAQ is up 326.95 points.
LIVE CATTLE:
Heading into Friday's noon hour the live cattle complex is trading mostly
lower, as traders seem unwilling to advance the contracts any more ahead of the
weekend even though fed cash cattle prices in the South are trading higher.
October live cattle are down $1.05 at $218.25, December live cattle are down
$1.50 at $221.67 and February live cattle are down $2.00 at $223.42. There's
been some trade noted this morning in Texas at $226, which is $4.00 higher than
last week's weighted average. Bids of $226 are currently on the table in
Kansas, and bids of $221 live and $345 are on the table in Nebraska. More trade
will likely develop ahead of the day's close, but it's looking like the week's
trend may be set at this point -- steady in the North and $4.00 higher in the
South.
Boxed beef prices are mixed: choice down $2.43 ($374.36) and select up $0.47
($353.36) with a movement of 79 loads (60.70 loads of choice, 2.82 loads of
select, 6.82 loads of trim and 8.42 loads of ground beef).
FEEDER CATTLE:
And the combination of seeing the live cattle complex trade lower and
growing nervous about being above the market's 100-day moving average, has also
sent the feeder cattle contracts trading lower into Friday's noon hour. October
feeders are down $4.10 at $334.77, November feeders are down $4.85 at $331.50
and January feeders are down $4.82 at $324.87. Unless the live cattle complex
makes a surprising turn around ahead of the day's close, it's most likely that
the complex will end the day moderately lower.
LEAN HOGS:
The lean hog complex is trading higher into Friday's noon hour as traders
have noted the slight uptick in consumer demand, and are willing to extend some
light support to the market ahead of the week's end. October lean hogs are up
$0.45 at $77.95, December lean hogs are up $0.92 at $69.85 and February lean
hogs are up $1.15 at $70.90. The projected lean hog index for 10/1/2026 is down
$0.51 at $80.20 and the actual index for 9/30/2026 is down $0.24 at $80.71. Hog
prices average $77.25 on the Daily Direct Morning Hog Report, ranging from
$69.00 to $81.00 on 719 head and a five-day rolling average of $77.85. Pork
cutouts total 152.28 loads with 136.22 loads of pork cuts and 16.06 loads of
trim. Pork cutout values: up $0.81, $86.10.
ShayLe Stewart can be reached shayle.stewart@dtn.com
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