DTN Midday Livestock Comments          08/26 11:44

   Lack of Fundamental Support Keeps Livestock Contracts Jittery 

   Bids are on the table in Nebraska and Kansas, but no new trade has developed 
in the fed cash cattle market.

ShayLe Stewart
DTN Livestock Analyst

GENERAL COMMENTS:

   The livestock complex is again trading mixed into Wednesday's noon hour as 
the cattle futures lack support but the lean hog contracts are chopping 
sideways thanks to trader support. Bids are on the table in Nebraska and Kansas 
-- but no new trade has developed in the fed cash cattle market. December corn 
is up 12 1/4 cents per bushel and December soybean meal is up $7.40. The Dow 
Jones Industrial Average is down 145.92 points and NASDAQ is down 95.22 points.

LIVE CATTLE:

   The live cattle complex is mostly trading lower into Wednesday's noon hour 
as traders are aware it's unlikely fundamental support is going to arise later 
this week. With packers now possessing the lion's share of the market's 
leverage, fed cash cattle prices will likely continue to scale lower for the 
unforeseeable future; uncertainty surrounding the border reopening causes 
market anxiousness as well. October live cattle are down $0.75 at $210.20, 
December live cattle are down $0.22 at $211.95 and February live cattle are 
down $0.10 at $213.40. Following the movement that transpired in the North on 
Tuesday at mostly $345 (which is $10.00 lower than the previous week's weighted 
average), no new trade has developed but bids are on the table. Bids are 
currently being offered in Kansas at $218 live, and in Nebraska at $218 live 
and $345 dressed. More trade will need to develop in the South before the week 
is over, and some more light trade could develop in the North as well.

   Boxed beef prices are lower: choice down $1.05 ($387.48) and select down 
$2.69 ($366.29) with a movement of 63 loads (31.90 loads of choice, 11.86 loads 
of select, 2.97 loads of trim and 15.84 loads of ground beef).

FEEDER CATTLE:

   The feeder cattle contracts are also trading lower into Wednesday's noon 
hour as the market isn't finding the support and reassurance it needs. Thus far 
this week feeder cattle prices have been mostly lower in sale barns across the 
country and the light test we've seen in the fed cash cattle market has been 
lower too -- both of which pressure the market to trade lower. September 
feeders are down $2.80 lower at $316.47, October feeders are down $1.45 at 
$311.87 and November feeders are down $0.77 at $304.92.

LEAN HOGS:

   The lean hog contracts are trading slightly higher into Wednesday's noon 
hour as traders are merely letting the contracts chop sideways. More than 
anything, a sideways chop should be expected of the contracts as fundamental 
support isn't stable enough to justify trading the contracts notably higher. 
October lean hogs are up $0.10 at $80.55, December lean hogs are up $0.45 at 
$70.80 and February lean hogs are up $0.27 at $73.45. The projected CME Lean 
Hog Index for 8/25/2026 is down $0.23 at $92.42, and the actual index for 
8/24/2026 is down $0.21 at $92.65. Hog prices are higher on the Daily Direct 
Morning Hog Report, up $0.27 with a weighted average price of $90.88, ranging 
from $83.00 to $91.50 on 8,483 head and a five-day rolling average of $91.64. 
Pork cutouts total 157.90 loads with 139.35 loads of pork cuts and 18.55 loads 
of trim. Pork cutout values: down $0.75, $96.92.

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




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