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DTN Midday Livestock Comments 11/02 11:44
Traders Handle the Livestock Contracts Gingerly Heading into Monday's Noon
Hour
New showlists for the week are lower in Texas, but slightly higher in
Nebraska, and noticeably higher in Kansas.
ShayLe Stewart
DTN Livestock Analyst
GENERAL COMMENTS:
Mixed tones dominate the livestock complex at Monday's noon hour as traders
continue to yearn for greater fundamental support. New showlists for the week
are lower in Texas, but slightly higher in Nebraska, and noticeably higher in
Kansas. December corn is down 3/4 cent per bushel and December soybean meal is
steady. The Dow Jones Industrial Average is up 498.89 points and the NASDAQ is
up 77.19 points.
LIVE CATTLE:
Following last week's mixed trade, the live cattle complex is continuing the
trend with the market's nearby contracts falling slightly lower, while the
deferred contracts have been able to thus far maintain a slightly stronger
position. December live cattle are down $0.70 at $220.25, February live cattle
are down $0.22 at $223.97 and April live cattle are down $0.20 at $226.42.
Friday's decline pushed the spot December contract back below the market's
100-day moving average, and with the nearby contracts continuing to trade
lower, today's action has pushed the market even further from that threshold.
New showlists for the week are lower in Texas, but slightly higher in Nebraska,
and noticeably higher in Kansas.
Boxed beef prices are higher: choice up $0.14 ($364.80) and select up $2.75
($354.73) with a movement of 42 loads (18.25 loads of choice, 3.32 loads of
select, 12.98 loads of trim and 7.79 loads of ground beef).
FEEDER CATTLE:
The feeder cattle contracts are trading mostly higher into Monday's noon
hour, as traders remain hopeful that the market may be able to change its
trajectory in the nearing day's from late last week's lower trend. November
feeders are down $0.20 at $337.57, January feeders are up $0.42 at $332.30 and
March feeders are up $0.77 at $328.05. But if the live cattle contracts don't
turn higher, it's unlikely that the feeder cattle contracts will be able to
trade higher for much longer.
LEAN HOGS:
And the market's mixed tones are also being seen in the lean hog complex as
the nearby contracts trade lower, but some of the deferred months are trading
mildly higher. December lean hogs are down $0.80 at $58.07, February lean hogs
are down $0.17 at $63.57 and April lean hogs are down $0.10 at $69.40. Luckily
pork demand is higher at the week's start -- but in order for it to mean much
to traders, they're going to need to see higher prices for multiple days. The
projected lean hog index for 10/30/2026 is down $0.82 at $65.75, and the actual
index for 10/29/2026 is down $0.73 at $66.57. Hog prices are unavailable on the
Daily Direct Morning Hog Report, but we can see that only 505 head have traded
and that the five-day rolling average now sits at $59.44. Pork cutouts total
188.68 loads with 169.19 loads of pork cuts and 19.49 loads of trim. Pork
cutout values: up $2.36, $72.46.
ShayLe Stewart can be reached shayle.stewart@dtn.com
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