DTN Midday Livestock Comments          07/23 11:52

   Greater Trader Support Pushes Livestock Contracts Higher Thursday

   With the help of traders, all three of the livestock markets are trading 
higher as we head into Thursday's noon hour. 

ShayLe Stewart
DTN Livestock Analyst

GENERAL COMMENTS:

   Thursday has been a nice change of pace for the livestock complex as all 
three of the markets are trading higher into the noon hour. Some light cash 
cattle trade has developed in Kansas this morning at $230, but otherwise the 
market is quiet. December corn is up 2 1/4 cents per bushel and December 
soybean meal is down $0.50. The Dow Jones Industrial Average is down 421.28 
points and NASDAQ is down 502.15 points.

LIVE CATTLE:

   Thanks to some added support from traders, the live cattle contracts are 
trading higher into Thursday's noon hour. Yes, it is minimally supportive that 
midday boxed beef prices are higher too; but with the cash market trading 
starkly lower, it's difficult to say the market is well supported by 
fundamentals. August live cattle are up $1.80 at $225.00, October live cattle 
are up $1.65 at $220.85 and December live cattle are up $220.22. Following 
Wednesday's light cash cattle trade where Northern dressed cattle were trading 
for $365 (which is $12 to $15 lower than the previous week's weighted average) 
there's been some light business develop this morning in Kansas at $230, but 
otherwise there's yet to be any further developments. Packer interest should 
continue to develop throughout the day.

   Boxed beef prices are higher: choice up $0.72 ($364.22) and select up $2.16 
($352.73) with a movement of 72 loads (48.89 loads of choice, 5.07 loads of 
select, 8.66 loads of trim and 9.07 loads of ground beef).  

FEEDER CATTLE:

   The feeder cattle complex is grateful for the opportunity to trade higher as 
it gladly follows the live cattle complex higher. August feeders are up $2.62 
at $343.80, September feeders are up $3.45 at $339.60 and October feeders are 
up $3.50 at $333.35. As in the live cattle complex, Thursday's movement seems 
to be solely a technical decision as demand in the countryside for feeder 
cattle has been softer this week.

LEAN HOGS:

   The lean hog complex is keeping with its current trend as the contracts are 
trading higher into Thursday's noon hour. August lean hogs are up $0.25 at 
$101.70, October lean hogs are up $0.25 at $88.60 and December lean hogs are up 
$0.17 at $80.00. With pork cutout values higher at Thursday's noon hour, it's 
likely the complex will be able to keep this momentum through Thursday's end. 
The projected CME Lean Hog Index for 7/22/2026 is up $0.40 at $97.48 and the 
actual index for 7/21/2026 is up $0.44 at $97.08. Hog prices are higher on the 
Daily Direct Morning Hog Report, up $0.72 with a weighted average price of 
$101.76, ranging from $93.00 to $102.50 on 915 head and a five-day rolling 
average of $100.67. Pork cutouts total 204.77 loads with 189.50 loads of pork 
cuts and 15.27 loads of trim. Pork cutout values: up $3.22, $106.72.

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




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