DTN Midday Livestock Comments          08/25 11:51

   Traders Lack Confidence in Market's Fundamentals 

   The livestock complex is trading lower yet again Tuesday as traders aren't 
confident about the market's fundamentals. 

ShayLe Stewart
DTN Livestock Analyst

GENERAL COMMENTS:

   The livestock complex is enduring another challenging day as the market is 
left depleted of fundamental support. Some light cash cattle trade is currently 
developing in Nebraska; but otherwise the market sits idle with no other sales 
noted. December corn is up 6 1/2 cents per bushel and December soybean meal is 
up $1.30. The Dow Jones Industrial Average is up 72.43 points and NASDAQ is up 
157.40 points.

LIVE CATTLE:

   Although midday boxed beef prices are higher, the live cattle contracts 
continue their lower trend as the market needs reassurance as to what the 
immediate market ramifications are going to be from the border reopening Monday 
at the Douglas, Arizona, port to Mexican cattle imports. While midday boxed 
beef prices substantially higher, that fundamental support isn't enough to lend 
traders any confidence at this point in time. October live cattle are down 
$2.20 at $211.40, December live cattle are down $1.75 at $212.45 and February 
live cattle are down $1.70 at $213.90. Some light cash cattle trade is 
currently being reported in the North at $345 and those cattle were committed 
for delivery on the weeks of Sept. 8 and Sept. 14. Otherwise, the cash market 
sits idle with no trade developed yet. But asking prices in the South are noted 
at $228 to $230.

   Boxed beef prices are higher: choice up $2.43 ($388.12) and select up $5.46 
($370.48) with a movement of 59 loads (31.52 loads of choice, 11.32 loads of 
select, 11.70 loads of trim and 4.19 loads of ground beef).

FEEDER CATTLE:

   The losses in the feeder cattle complex are even more severe as its 
contracts are $3.00 to $4.00 lower headed into Tuesday's noon hour. Couple the 
border reopening with the fact that buyers have been more selective in sale 
barns here recently; neither of those two factors help support the feeder 
cattle market, unfortunately. September feeders are down $4.55 at $319.67, 
October feeders are down $4.17 at $314.10 and November feeders are down $4.32 
at $306.65.

LEAN HOGS:

   The lean hog complex isn't in any better of a position than the cattle 
contracts are as its market is also trading lower into Tuesday's noon hour. But 
with both cash prices and pork cutout values lower, a lower trend is the only 
thing to be expected. October lean hogs are down $0.60 at $80.52, December lean 
hogs are down $0.75 at $70.72 and February lean hogs are down $0.95 at $73.47. 
The projected CME Lean Hog Index for 8/21/2026 is down $0.40 at $92.86 and the 
actual index for 8/20/2026 is down $0.46 at $93.26. Hog prices on the Daily 
Direct Morning Hog Report average $90.61, ranging from $89.00 to $92.00 on 
4,162 head and a five-day rolling average of $92.36. Pork cutouts total 180.19 
loads with 163.44 loads of pork cuts and 16.75 loads of trim. Pork cutout 
values: down $2.31, $97.62.

   ShayLe Stewart can be reached shayle.stewart@dtn.com




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