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DTN Midday Livestock Comments 09/09 11:37
Weaker Trends Take Over the Cattle Complex as Traders Hope for Greater
Support
Asking prices are noted at $225 in the South but are still not well
established in the North.
ShayLe Stewart
DTN Livestock Analyst
GENERAL COMMENTS:
The livestock complex is trading mostly lower into midday Wednesday as the
market is hoping for greater fundamental support to arise. Asking prices are
noted at $225 in the South, but no trade has developed yet. December corn is
down 4 1/4 cents per bushel and December soybean meal is down $0.50. The Dow
Jones Industrial Average is down 411.14 points and the NASDAQ is down 201.50
points.
LIVE CATTLE:
Although the live cattle contracts started the day off stronger, the market
is now trading lower into midday Wednesday as traders aren't confident that any
immediate fundamental support is going to develop, and don't feel comfortable
moving the market any higher of their own accord. October live cattle are down
$1.52 at $215.50, December live cattle closed $1.00 lower at $218.22 and
February live cattle closed $0.70 lower at $219.75. The cash cattle market
remains quiet heading into Wednesday's noon hour, with no bids having surfaced
just yet. Asking prices are noted at $225 in the South but are still not well
established in the North. It's likely that trade will be delayed until later in
the week.
Boxed beef prices are mixed: choice up $4.61 ($382.18) and select down $0.34
($355.05) with a movement of 84 loads (39.72 loads of choice, 6.86 loads of
select, 25.20 loads of trim and 12.69 loads of ground beef).
FEEDER CATTLE:
And as expected, if the live cattle contracts are trading lower, so are the
feeder cattle contracts. September feeders are down $0.72 at $328.12, October
feeders are down $0.92 at $324.60 and November feeders are down $0.22 at
$320.22. With the market's 40-day moving average looming overhead, it's
unlikely that the contracts will trade much higher unless the live cattle
complex grows stronger, as that technical resistance currently stands as too
much of a barrier for trades to rival.
LEAN HOGS :
The lean hog complex is back to trading lower as traders sit and wait,
hoping to see greater support develop. October lean hogs are down $1.60 at
$82.65, December lean hogs are down $0.87 at $74.17 and February lean hogs are
down $1.00 at $76.65. It is supportive that midday pork cutout values are
higher, but traders not only need to see higher prices but also consistency in
demand. The projected lean hog index for 9/8/2026 is down $0.86 at $88.79 and
the actual index for 9/7/2026 is down $0.89 at $89.65. Hog prices average
$87.72 on the Daily Direct Morning Hog Report, ranging from $81.00 to $89.50 on
2,692 head, with a five-day rolling average of 87.57. Pork cutouts total 223.10
loads, with 194.50 loads of pork cuts and 28.60 loads of trim. Pork cutout
values: up $2.28, $94.10.
ShayLe Stewart can be reached shayle.stewart@dtn.com
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