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DTN Midday Livestock Comments 07/14 11:45
Pressure Continues to Build in Livestock Futures
Lower tones continue to be the theme of the livestock complex as traders
simply aren't willing to advance the contracts without greater fundamental
support.
ShayLe Stewart
DTN Livestock Analyst
GENERAL COMMENTS:
Mostly lower tones have taken over the livestock complex as there's simply
not enough fundamental support in the market for traders to confidently push
the contracts higher. Asking prices are noted at $248 in Texas; but otherwise
nothing has developed in the cash cattle market. December corn is down 2 3/4
cents per bushel and December soybean meal is up $1.10. The Dow Jones
Industrial Average is down 88.02 points and NASDAQ is up 223.81 points.
LIVE CATTLE:
With nothing seeming to develop in a positive manner from the market's
fundamentals, traders have felt the technical side of the market's pressure
long enough to decide that the day's only option is to trade lower -- sharply
lower. August live cattle are down $2.92 at $231.80, October live cattle are
down $2.57 at $228.05 and December live cattle are down $2.82 at $227.57. With
the continued weakness in the complex, it's likely this week's cash market will
trade lower too. No bids are on the table at this point but asking prices are
noted at $248 in Texas. Otherwise the cash market remains quiet.
Boxed beef prices are mixed: choice down $0.01 ($375.60) and select up $0.70
($365.87) with a movement of 51 loads (37.88 loads of choice, 4.58 loads of
select, 3.73 loads of trim and 5.22 loads of ground beef).
FEEDER CATTLE:
The feeder cattle contracts are also trading lower as traders simply don't
have a leg to confidently stand on right now. With there yet to be any test in
the fed cash cattle market, lower tones seen in sale barns across the U.S., and
the live cattle futures trading lower -- it's only logical the feeder cattle
contracts would trade lower too. August feeders are down $5.00 at $349.22,
September feeders are down $5.32 at $345.50 and October feeders are down $5.62
at $341.22.
LEAN HOGS:
The lean hog complex is trading mixed with its nearby contracts continuing
to push a minor rally, while the rest of the contracts trade below steady
prices. If midday pork cutout values were a tick stronger, then there's a
chance prices may move higher; but traders need strong, unwavering fundamental
support if they're going to trade around or above market resistance at $100.00.
August lean hogs are up $0.05 at $98.15, October lean hogs are down $0.50 at
$83.77 and December lean hogs are down $0.65 at $74.42.
The projected CME Lean Hog Index for 7/13/2026 is up $0.76 at $93.87 and the
actual index for 7/10/2026 is up $0.42 at $93.11. Hog prices on the Daily
Direct Morning Hog report average $96.87, ranging from $96.00 to $100.00 on
4,100 head and a five-day rolling average of $96.91. Pork cutouts total 160.33
loads with 150.99 loads of pork cuts and 9.34 loads of trim. Pork cutout
values: down $0.10, $101.45.
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