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DTN Midday Livestock Comments 04/13 11:50
Mixed Tones Overcome Livestock Complex Near Noon Monday
The live cattle contracts would like to rally alongside the feeder cattle
contracts, but until more support develops, traders may hold the market merely
steady.
ShayLe Stewart
DTN Livestock Analyst
GENERAL COMMENTS:
The livestock complex is trading mixed into Monday's noon hour as once again
traders scan the complex for continued support. New showlists appear to be to
be slightly higher in Nebraska and Colorado and higher in Kansas and Texas. May
corn is up 2 3/4 cents per bushel and May soybean meal is up $1.40. The Dow
Jones Industrial Average is down 43.07 points and NASDAQ is up 133.91 points.
LIVE CATTLE:
Thus far it's been a fairly slow, mundane start to the week as the live
cattle futures are trading just above steady in most of the contracts, expect
for the spot and nearby months which are trading slightly lower. June live
cattle are down $0.45 at $248.75, August live cattle are steady at $244.75 and
October live cattle are up $0.12 at $240.67. Following the massive rally the
market has experienced over the last two trading weeks, it's likely the complex
won't push much higher until traders see what's going to develop in terms of
fundamental support this week. Currently the spot June live cattle contract is
$5.02 higher than the previous all-time high scored last October before the
market raced lower. New showlists appear to be to be slightly higher in
Nebraska andColorado and higher in Kansas and Texas.
Last week's cash cattle trade was extremely limited, but a few deals were
marked in Kansas at $249, which is $3.00 higher than the previous week's
weighted average, and at $246 in Texas, which is $1.00 higher than the previous
week's weighted average. Northern dressed cattle traded for $385 to $389, which
is steady to $4.00 higher than the previous week's weighted average.
Boxed beef prices are higher: choice up $1.07 ($381.97) and select up $3.17
($384.51) with a movement of 31 loads (18.58 loads of choice, 3.80 loads of
select, 5.00 loads of trim and 4.09 loads of ground beef).
FEEDER CATTLE:
The live cattle complex may be headed into the new week cautiously, but the
feeder cattle complex is trading fully higher as demand from the countryside is
helping keep traders active in the complex. April feeder cattle are steady at
$374.15, May feeders are up $0.57 at $372.92 and August feeders are up $1.12 at
$373.57. So long as demand remains strong again this week from buyers, the
market will likely keep with its steady/somewhat higher trend.
LEAN HOGS:
Although pork cutout values are higher on the midday report and were
slightly higher late last week, the hog complex continues to trend lower as the
market simply isn't seeing the technical interest it needs. June lean hogs are
down $0.65 at $103.07, July lean hogs are down $0.50 at $106.07 and August lean
hogs are down $0.42 at $106.02. Hopefully the market is nearing the bottom to
this current move and if support from consumers remains stable this week,
trades may be able to begin to pull the contracts higher later in the week.
The projected CME Lean Hog Index for 4/10/2026 is down $0.01 at $90.27, and
the actual index for 4/9/2026 is down $0.01 at $90.28. Hog prices are lower on
the Daily Direct Morning Hog Report, down $0.16 with a weighted average price
of $89.23, ranging from $88.00 to $91.00 on 441 head and a five-day rolling
average of $90.04. Pork cutouts total 125.67 loads with 104.91 loads of pork
cuts and 20.76 loads of trim. Pork cutout values: up $1.11, $99.81.
ShayLe Stewart can be reached shayle.stewart@dtn.com
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