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DTN Midday Livestock Comments 08/06 11:50
Pressure Builds for the Livestock Complex
Bids are on the table in the fed cash cattle market at mostly $235 live, but
no new sales have been spotted.
ShayLe Stewart
DTN Livestock Analyst
GENERAL COMMENTS:
The livestock complex has been hit with some pressure and currently all
three of the markets are trading lower. Bids are on the table for most of the
major feeding states, but no new trade has been noted following Wednesday's
movement. December corn is down 1 1/4 cents per bushel and December soybean
meal is up $0.10. The Dow Jones Industrial Average is down 327.18 points and
NASDAQ is down 46.20 points.
LIVE CATTLE:
The live cattle contracts are mildly retreating Thursday morning as traders
aren't confident that the market possesses enough support to challenge the
market's resistance at its 40-day moving average. August live cattle are down
$2.02 at $232.10, October live cattle are down $3.72 at $225.72 and December
live cattle are down $3.32 at $225.35. And in terms of the cash cattle market,
bids are on the table, and trade is merely waiting to cut loose at this point.
There was a light trade on Wednesday at $370 in Nebraska (which is $3 higher
than last week's weighted average), but otherwise, no new trade has developed.
Asking prices are firm in the South at $235.
Boxed beef prices are mixed: choice down $5.10 ($362.87) and select up $0.97
($349.03) with a movement of 81 loads (58.63 loads of choice, 14.34 loads of
select, zero loads of trim and 8.13 loads of ground beef).
FEEDER CATTLE:
The feeder cattle complex is again following the direction of the live
cattle contracts, and so, as one goes down, so goes the other. August feeders
are down $3.40 at $349.92, September feeders are down $4.67 at $343.57 and
October feeders are down $5.75 at $333.67. And just like the live cattle
complex, it's likely the market's technical barrier at its 40-day moving
average is causing the market grief right now.
LEAN HOGS:
And with pork cutout values down again Thursday morning, it comes as no real
surprise that the lean hog contracts are trading lower. August lean hogs are
down $0.80 at $95.80, October lean hogs are down $1.07 at $81.95 and December
lean hogs are down $1.30 at $73.35. But with both the ham and the picnic
falling more than $4 lower, it's no wonder the carcass price is being pulled
lower. The projected lean hog index for 8/5/2026 is down $0.29 at $96.66 and
the actual index for 8/4/2026 is down $0.22 at $96.95. Hog prices are
unavailable on the Daily Direct Morning Hog Report due to confidentiality.
However, we can see that only 1,001 head have traded Thursday morning and that
the market's five-day rolling average now sits at $99.37. Pork cutouts total
133.42 loads with 114.79 loads of pork cuts and 18.63 loads of trim. Pork
cutout values: down $1.56, $99.49.
ShayLe Stewart can be reached shayle.stewart@dtn.com
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