| |
DTN Midday Livestock Comments 08/10 11:31
Traders Push the Livestock Contracts Higher at Monday's Start
New showlists for the week are lower in all major feeding regions.
ShayLe Stewart
DTN Livestock Analyst
GENERAL COMMENTS:
Aside from a couple of the nearby feeder cattle contracts, the livestock
complex is trading higher into Monday's noon hour. New showlists for the week
are lower in all major feeding regions. December corn is down 1/2 cent per
bushel and December soybean meal is down $1.60. The Dow Jones Industrial
Average is down 33.37 points and the NASDAQ is down 15.30 points.
LIVE CATTLE:
The live cattle complex is trading higher into Monday's noon hour thanks to
the support seen last week in the fed cash cattle market. Late last week the
market did soften as traders were leery of challenging the market's resistance
at its 40-day moving average. But luckily at this point traders haven't seemed
concerned about that technical challenge. August live cattle are up $1.00 at
$232.70, October live cattle are up $2.07 at $227.35 and December live cattle
are up $2.17 at $226.32. No bids or asking prices have surfaced yet for this
week's fed cash cattle market, and it's likely that trade will be delayed until
the later part of the week. New showlists for the week are lower in all major
feeding regions.
Last week Northern dressed cattle traded at mostly $370, which is $3.00
higher than last week's weighted average, and Southern live cattle traded at
mostly $235, which is $2.00 higher than last week's weighted average.
Boxed beef prices closed mixed: choice up $7.21 ($371.57) and select down
$2.29 ($350.08) with a movement of 34 loads (16.36 loads of choice, 8.76 loads
of select, 3.66 loads of trim and 5.21 loads of ground beef).
FEEDER CATTLE:
The feeder cattle complex is trading mixed as traders are a little more
cautious early this week in the feeder cattle arena. Could it be because the
border is set to reopen to Mexican cattle imports in less than two weeks? Or is
it the technical resistance at the market's 40-day moving average that is still
causing some anxiety? Either way, the spot and nearby contracts in the feeder
cattle complex remain on edge while the deferred contracts are following in the
live cattle complex's higher direction. August feeders are down $1.65 at
$350.00, September feeders are down $1.10 at $344.12 and October feeders are up
$0.45 at $335.37.
LEAN HOGS:
And with the help of stronger pork cutout values at Monday's start, the lean
hog contracts are also trading higher into Monday's noon hour. August lean hogs
are up $0.20 at $95.70, October lean hogs are up $1.92 at $84.15 and December
lean hogs are up $1.95 at $75.52. Last week consumer demand was choppy which
caused the futures complex some trouble, but hopefully the market's stronger
start early this week will carry on throughout the duration of the week and
help the market regain what was lost last week. The projected lean hog index
for 8/7/2026 is down $0.21 at $96.09 and the actual index for 8/6/2026 is down
$0.36 at $96.30. Hog prices are not available on the Daily Direct Morning Hog
Report because of confidentiality. However we can see that only 295 head have
traded and that the market's five-day rolling average now sits at $98.90.
Pork cutouts total 127.74 loads with 115.79 loads of pork cuts and 11.94
loads of trim. Pork cutout values: up $1.15, $102.65.
ShayLe Stewart can be reached shayle.stewart@dtn.com
(c) Copyright 2026 DTN, LLC. All rights reserved.
DTN offers additional daily information available free through DTN Snapshot – sign up today.
|
|
