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DTN Midday Livestock Comments 09/10 11:50
Weaker Tones Stick With the Livestock Contracts as Traders Need More Support
Bids are currently being offered in Nebraska, but no sizeable trade has
occurred yet.
ShayLe Stewart
DTN Livestock Analyst
GENERAL COMMENTS:
The livestock complex is trading mostly lower into Thursday's noon hour as
traders continue to yearn for greater fundamental support. Bids of $340 to $348
are currently being offered in Nebraska, but no cattle have traded yet.
December corn is up 5 1/4 cents per bushel and December soybean meal is up
$4.70. The Dow Jones Industrial Average is down 297.82 points and NASDAQ is
down 143.55 points.
LIVE CATTLE:
It's been another back-and-forth day for the live cattle complex, as traders
continue to scratch their heads and ask: How much higher can we push the
contracts without risking too much technical position during a time in which
the market's fundamental support is minimal? This is why the live cattle
contracts have gone back and forth Thursday morning, trading lower and then
higher and now as the noon hour approaches, the contracts are back to trading
lower. October live cattle are down $0.10 at $215.95, December live cattle are
down $0.22 at $218.37 and February live cattle are down $0.65 at $219.80. The
fed cash cattle market remains idle with only bids having surfaced so far in
Nebraska. Currently, bids of $340 to $348 are on the table in Nebraska, but no
cattle have traded yet. Asking prices are noted at $225 in the South, but are
not well determined yet for the North. It looks as though the week's trade
could be delayed until Friday.
Boxed beef prices are lower: choice down $2.97 ($377.80) and select down
$0.69 ($351.65) with a movement of 83 loads (45.85 loads of choice, 8.09 loads
of select, 15.43 loads of trim and 13.56 loads of ground beef).
FEEDER CATTLE:
Meanwhile the feeder cattle complex is trading mixed into Thursday's noon
hour, as the market was grateful for the added support seen in Wednesday's
market by a slight uptick in buyer demand in the countryside. But with the live
cattle contracts uneasy, some of the nearby feeder cattle contracts are trading
lower too. September feeders are down $0.17 at $329.52, October feeders are
down $0.87 at $324.05 and November feeders are down $0.70 at $320.65.
LEAN HOGS :
The lean hog contracts are trading lower as the market simply doesn't see
enough fundamental support in the complex to justifiably challenge the market's
resistance. October lean hogs are up $0.15 at $83.22, December lean hogs are
down $0.37 at $74.22 and February lean hogs are down $0.45 at $76.52. The
projected lean hog index for 9/9/2026 is down $0.57 at $88.22 and the actual
index for 9/8/2026 is down $0.86 at $88.79. Hog prices are unavailable on the
Daily Direct Morning Hog Report because of confidentiality. However, we can see
that only 670 head have traded and that the market's five-day rolling average
now sits at $87.72. Pork cutouts total 178.31 loads with 156.31 loads of pork
cuts and 22.00 loads of trim. Pork cutout values: down $2.20, $91.43.
ShayLe Stewart can be reached shayle.stewart@dtn.com
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