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DTN Midday Livestock Comments 06/17 11:32
Cattle Retreat After Tuesday's Massive Rally
Cash cattle asking prices are noted at $260 to $262 in Texas, but still no
cash cattle trade has developed Wednesday.
ShayLe Stewart
DTN Livestock Analyst
GENERAL COMMENTS:
The livestock complex is trading mixed into Wednesday's noon hour as the
cattle contracts retreat mildly following Tuesday's massive surge, but the lean
hog contracts are slightly higher. No trade has developed yet in the cash
cattle market. July corn is up 4 1/4 cents per bushel and July soybean meal is
down $0.10. The Dow Jones Industrial Average is up 216.47 points and NASDAQ is
up 20.72 points.
LIVE CATTLE:
Following Tuesday's wild rally, the live cattle contracts are trading in a
more subtle nature Wednesday, longing to see increased fundamental support
after such a bold run higher. June live cattle are up $0.02 at $255.32, August
live cattle are up $0.60 at $248.60 and October live cattle are down $0.70 at
$241.30. No cash cattle trade has developed yet and there's a chance the week's
trade could be delayed until Thursday as feedlot managers are hopeful of seeing
the market trade higher this week. Asking prices are noted in Texas at $260 to
$262, but no trade has developed at this point.
Boxed beef prices are mixed: choice down $3.47 ($396.11) and select up $0.57
($377.42) with a movement of 81 loads (60.33 loads of choice, 4.53 loads of
select, 7.97 loads of trim and 8.07 loads of ground beef).
FEEDER CATTLE:
The feeder cattle complex is also trading slightly lower, seeming to be
unwilling to advance the market as aggressively as it did on Tuesday without
the support of the live cattle contract's higher trend and without knowing
what's going to be on Thursday's Cattle on Feed report. August feeder cattle
are down $1.00 at $365.87, September feeders are down $1.12 at $364.15 and
October feeders are down $1.32 at $361.10. Sales continue to be strong at the
Superior Livestock Auction Corn Belt Classic and a full market report of the
sale will be available later in the week.
LEAN HOGS:
The lean hog complex is higher as traders are willing to advance the
contracts mildly following the setback earlier this week. Unfortunately, the
market won't likely see much more of a price advancement later this afternoon
as the contracts are nearing resistance and as midday pork cutout values are
lower. July lean hogs are down $0.42 at $94.37, August lean hogs are up $1.07
at $96.12 and October lean hogs are up $0.85 at $80.77. The projected CME Lean
Hog Index for 6/16/2026 is up $0.49 at $92.43 and the actual index for
6/15/2026 is down $0.16 at $91.93. Hog prices are higher on the Daily Direct
Morning Hog Report, up $2.08 with a weighted average price of $97.50, ranging
from $86.00 to $98.00 on 3,625 head and a five-day rolling average of $96.69.
Pork cutouts total 180.16 loads with 161.45 loads of pork cuts and 18.70 loads
of trim. Pork cutout values: down $0.52, $95.05.
**
NOTE:
The cattle complex has seen record-high prices in the last year. But it's
also been saddled with record-high risk and volatility, among many other
challenges. To better understand these cattle market challenges, join DTN
Livestock Analyst ShayLe Stewart for the inaugural Beef Industry Exchange
webinar hosted by Senior Livestock Editor Jennifer Carrico at 9 a.m. CDT on
June 24.
In addition to ShayLe's cattle market update, DTN Ag Meteorologist John
Baranick shares how variability and a building Super El Nino might save or doom
U.S. pastures. Due to widespread drought conditions across the U.S., cow-calf
producers may be considering a reduction of the herd. To prepare for this,
University of Nebraska Lincoln Beef Systems Extension Educator Aaron Berger
shares different strategies to set up cow herd rebuilding when it rains again.
Register for the free webinar today:
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fIndustryExchange&data=05%7C02%7CCheri.Zagurski%40dtn.com%7C807fda3c4c664a981f56
08dec80477bd%7Cd945da26f07f451496e79b8f78a743d0%7C0%7C0%7C639168118702874444%7CU
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**
ShayLe Stewart can be reached shayle.stewart@dtn.com
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