DTN Midday Livestock Comments          06/24 11:59

   Cattle Trade Higher While Hogs Drift Sideways

   Although the cattle contracts are trading higher, still no cash cattle trade 
has developed.

ShayLe Stewart
DTN Livestock Analyst

GENERAL COMMENTS:

   The livestock complex is trading mixed into Wednesday's noon hour as the 
cattle contracts are trading higher while the lean hog contracts continue to 
trade mixed. No bids are currently on the table in the cash market, and trade 
will likely be delayed until Friday. July corn is down 3/4 cent per bushel and 
July soybean meal is up $1.90. The Dow Jones Industrial Average is up 436.05 
points and NASDAQ is up 71.03 points.

LIVE CATTLE:

   Although the market has yet to see any trade in the cash cattle complex and 
boxed beef prices are mixed, the live cattle contracts are trading higher as 
traders are willing to mildly support the complex in the meantime. August live 
cattle are up $1.12 at $247.12, October live cattle are up $1.02 at $240.77 and 
December live cattle are up $1.02 at $240.77. No cash cattle trade has 
developed yet and bids and asking prices are both elusive at this point. It's 
most likely that trade will be delayed until Friday again as feedlot managers 
will try to hold out in hopes that packers will up their bids when bidding does 
start.

   Boxed beef prices are mixed: choice up $0.63 ($400.94) and select down $1.20 
($379.86) with a movement of 48 loads (31.31 loads of choice, 6.19 loads of 
select, 4.99 loads of trim and 5.69 loads of ground beef).

FEEDER CATTLE:

   Upon seeing the live cattle complex trading higher, the feeder cattle 
contracts are also now trading higher into Wednesday's noon hour. August 
feeders are up $4.55 at $372.70, September feeders are up $3.92 at $370.90 and 
October feeders are up $3.72 at $368.32. Not only are traders willing to 
advance the board because of the live cattle contract's support, but with the 
increased demand in the countryside for feeder cattle, fundamental support is 
also encouraging the complex.

LEAN HOGS:

   The lean hog complex is trading mixed into Wednesday's noon hour as the 
market desires to see greater fundamental support and with both midday pork 
cutout values and cash prices lower, traders are leery. July lean hogs are down 
$0.32 at $93.90, August lean hogs are down $0.57 at $96.67 and October lean 
hogs are up $0.07 at $81.27. Do remember that tomorrow (Thursday) the Quarterly 
Hogs and Pigs report is set to be released.

   The projected lean hog index for 6/23/2026 is up $0.38 at $91.85 and the 
actual index for 6/22/2026 is down $0.30 at $91.47. Hog prices are unavailable 
on the Daily Direct Morning Hog report because of confidentiality. However, we 
can see that only 30 head have traded and that the market's five-day rolling 
average now sits at $96.73. Pork cutouts total 121.22 loads with 103.68 loads 
of pork cuts and 17.54 loads of trim. Pork cutout values: down $0.41, $94.84.

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




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