DTN Midday Livestock Comments          10/14 11:38

   Without Stronger Fundamental Support, the Livestock Contracts Trade Lower 

   No cash cattle trade has developed and it's likely that trade will be 
delayed for at least another day or two. 

ShayLe Stewart
DTN Livestock Analyst

GENERAL COMMENTS:

   Without stronger support from the market's fundamentals, all of the 
livestock contracts are trading lower into Wednesday's noon hour. No cash 
cattle trade has not developed this week, yet. December corn is down 2 1/2 
cents per bushel and December soybean meal is down $4.30. The Dow Jones 
Industrial Average is down 184.01 points and the NASDAQ is down 439.22 points.

LIVE CATTLE:

   And again without any trade having developed yet in the fed cash cattle 
market -- traders are merely allowing the live cattle contracts to chop 
sideways through Wednesday's trade. It is supportive from a fundamental sense 
that boxed beef prices are higher, but traders are really interested in seeing 
what's going to become of this week's cash market. October live cattle are down 
$0.52 at $224.10, December live cattle are down $1.02 at $225.32 and February 
live cattle are down $0.97 at $227.60. No cash cattle trade has developed yet, 
but asking prices are noted at $230 in Texas. It's likely that trade will be 
delayed for at least another day, if not two. 

   Boxed beef prices are higher: choice up $0.43 ($375.58) and select up $5.34 
($359.01) with a movement of 65 loads (28.06 loads of choice, 8.68 loads of 
select, 6.71 loads of trim and 21.95 loads of ground beef). 

FEEDER CATTLE:

   And without grand support from the live cattle complex, again Wednesday the 
feeder cattle contracts are trailing lower into the day's afternoon. October 
feeders are down $2.10 at $340.97, November feeders are down $2.27 at $338.75 
and January feeders are down $1.65 at $334.22. And until support improves from 
either the live cattle contracts or the fed cash cattle market -- this 
steady/sideways chop will likely remain the feeder cattle market's trend. 

LEAN HOGS:

   Although midday pork cutout values are up a tick, traders simply aren't 
confident in the market's demand scenario which is why the contracts are 
trading lower yet again. October lean hogs are down $0.12 at $75.47, December 
lean hogs are down $1.32 at $66.70 and February lean hogs are down $1.35 at 
$68.25. And to be specific -- the spot December lean hog contract is trading at 
a contract low today. The projected lean hog index for 10/13/2026 is down $0.19 
at $75.75 and the actual index for 10/12/2026 is down $0.57 at $75.94. Hog 
prices are lower on the Daily Direct Morning Hog Report, down $2.31 with a 
weighted average price of $69.05, ranging from $64.00 to $78.00 on 3,248 head 
and a five-day rolling average of $70.96. Pork cutouts total 175.28 loads with 
151.66 loads of pork cuts and 23.62 loads of trim. Pork cutout values: up 
$0.59, $81.27. 

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




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