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DTN Midday Livestock Comments 10/13 11:15
Weaker Tones Have the Livestock Contracts Trailing Lower into Tuesday's Noon
Hour
Asking prices are noted at $230 in Texas but still no cash cattle trade has
developed and will likely be delayed until later in the week.
ShayLe Stewart
DTN Livestock Analyst
GENERAL COMMENTS:
Following Monday's modest rally in the cattle complex, traders are being a
bit more cautious on Tuesday. Asking prices are noted at $230 in Texas but
still no cash cattle trade has developed. December corn is up 2 3/4 cents per
bushel and December soybean meal is down $4.30. The Dow Jones Industrial
Average is down 141.40 points and NASDAQ is down 51.40 points.
LIVE CATTLE:
And without robust support from traders, and no cash cattle trade having
developed yet this week the live cattle contracts are trading lower into
Tuesday's noon hour. The only positive fundamental gesture shining through the
market right now is the fact that midday boxed beef prices are higher. October
live cattle are down $0.52 at $224.22, December live cattle are down $0.72 at
$225.87 and February live cattle are down $1.12 at $228.47. No bids are on the
table in the fed cash cattle market, but asking prices are noted in Texas at
$230. Feedlot managers have been able to regain some moderate leverage in
recent weeks, and it's likely again that this week trade will be delayed until
the later half of the week as feedlot managers hope to hold the market steady
at least.
Boxed beef prices are higher: choice up $0.98 ($376.54) and select up $1.55
($355.68) with a movement of 68 loads (56.09 loads of choice, 3.08 loads of
select, 3.06 loads of trim and 6.12 loads of ground beef).
FEEDER CATTLE:
Without continued support of the live cattle contracts, the feeder cattle
complex is trading lower into Tuesday's noon hour. October feeders are down
$1.75 at $341.72, November feeders are down $1.62 at $339.47 and January
feeders are down $0.87 at $334.87. And until the live cattle complex turns
higher again -- a slightly lower trend will likely continue in the feeder
cattle market.
LEAN HOGS:
And even though midday pork cutout values are up slightly, traders are being
a tick more cautious in Tuesday's market and are allowing a lower trend to take
the lean hog contracts lower into the afternoon. December lean hogs are down
$0.52 at $67.85, February lean hogs are down $0.95 at $69.35 and April lean
hogs are down $1.05 at $74.02. The projected lean hog index for 10/12/2026 is
down $0.57 at $75.94, and the actual index for 10/9/2026 is down $1.10 at
$76.51. Hog prices on the Daily Direct Morning Hog Report average $71.36,
ranging from $65 to $78 on 5,343 head and a five-day rolling average of $71.89.
Pork cutouts total 163.02 load with 149.38 loads of pork cuts and 13.64 loads
of trim. Pork cutout values: up $0.08, $83.05.
ShayLe Stewart can be reached shayle.stewart@dtn.com
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