DTN Midday Livestock Comments          09/30 11:53

   Cattle Scale Higher While Hogs Dip Lower

   Bids have surfaced in Nebraska at $345, but given that asking prices are 
noted at $360, it's unlikely that trade will develop soon.

ShayLe Stewart
DTN Livestock Analyst

GENERAL COMMENTS:

   The livestock complex is again trading mixed as traders are helping drive 
the cattle contracts higher, but the lean hog contracts are trading lower. Bids 
have surfaced in Nebraska at $345, but given that asking prices are noted at 
$360, it's unlikely that trade will develop soon. December corn is down 20 1/2 
cents per bushel and December soybean meal is down $0.10. The Dow Jones 
Industrial Average is down 52.32 points and NASDAQ is up 254.77 points.

LIVE CATTLE:

   Even though midday boxed beef prices are mixed and we've yet to see much 
trade in the fed cash cattle market, the live cattle contracts are trading 
higher into Wednesday's noon hour. October live cattle are up $2.22 at $219.45, 
December live cattle are up $2.45 at $223.25 and February live cattle are up 
$2.52 at $225.45. Still no new trade has developed in the fed cash cattle 
market, but some early bids and asking prices have surfaced ahead of 
Wednesday's noon hour. Asking prices are noted in eastern Nebraska at $360, and 
some bids have also surfaced in Nebraska at $345. But given that there's quite 
a difference between the two prices, it's likely that trade will be delayed 
until later in the week.

   Boxed beef prices are mixed: choice up $0.01 ($382.67) and select down $2.41 
($362.07) with a movement of 70 loads (37.07 loads of choice, 7.15 loads of 
select, 7.64 loads of trim and 18.41 loads of ground beef).

FEEDER CATTLE:

   Thankfully with the added support of the live cattle contracts trading 
higher, the feeder cattle contracts are also pushing a substantial $4.00 rally 
into Wednesday's noon hour. October feeders are up $3.55 at $337.20, November 
feeders are up $4.00 at $334.90 and January feeders are up $4.65 at $328.05. 
Given that the board's support is significant, it's likely that feeder cattle 
prices may even see a tick more support from buyers Wednesday.

LEAN HOGS :

   Meanwhile the lean hog complex continues to be stuck in a sideways, choppy 
trading range as traders aren't seeing enough support. And with midday pork 
cutout values lower, it's likely that this lower trend will be kept through the 
afternoon. October lean hogs are down $0.42 at $78.95, December lean hogs are 
down $0.15 at $69.55 and February lean hogs are down $0.32 at $70.30. The 
projected lean hog index for 9/29/2026 is up $0.01 at $80.95 and the actual 
index for 9/28/2026 is down $0.27 at $80.94. Hog prices are lower on the Daily 
Direct Morning Hog Report, down $0.55 with a weighted average price of $77.46, 
ranging from $69.00 to $79.00 on 1,908 head and a five-day rolling average of 
$78.10. Pork cutouts totaled 177.49 loads with 153.61 loads of pork cuts and 
23.88 loads of trim. Pork cutout values: down $0.28, $87.49. 

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




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