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DTN Midday Livestock Comments 12/04 11:44
Traders Continue to Push Livestock Contracts Higher at Midday Thursday
No cash cattle trade has developed yet, but bids are currently on the table
in both regions.
ShayLe Stewart
DTN Livestock Analyst
GENERAL COMMENTS:
The livestock contracts are trading fully higher into midday Thursday, as
the market is pleased to see continued interest from traders. Now, both midday
pork cutout values and boxed beef prices are lower, but the cash cattle complex
is holding its breath, hoping that the fed cash cattle market will trade higher
later this week. March corn is up 3 1/2 cents per bushel and January soybean
meal is up $1.10. The Dow Jones Industrial Average is down 51.12 points and the
NASDAQ is up 10.49 points.
LIVE CATTLE:
The live cattle complex is trading higher into Thursday's noon hour,
although midday boxed beef prices are lower, traders are hopeful that the fed
cash cattle market will trade cattle stronger later this week. A few bids are
currently on the table at $218 live in Kansas, and $216 live and $335 to $340
dressed in Nebraska but no cattle have traded yet. Asking prices are firm at
$225 in the South and $340 plus in the North. The market still has plenty of
room to trade higher before it runs into resistance pressure, which will likely
happen around the market's 100-day moving average ($231.33).
Boxed beef prices are lower: choice down $0.78 ($363.03) and select down
$3.22 ($349.90) with a movement of 86 loads (67.88 loads of choice, 14.18 loads
of select, zero loads of trim and 4.39 loads of ground beef).
FEEDER CATTLE:
Upon seeing the live cattle contracts continue to trade higher, the feeder
cattle contracts are currently pushing a moderate $1.00 to $3.00 rally into
Thursday's noon hour. This week's rally hasn't only developed throughout the
futures complex, but its support has also affected feeder cattle prices, which
are trading higher in the countryside once again. January feeders are up $3.22
at $335.07, March feeders are up $2.52 at $328.37 and April feeders are up
$1.87 at $327.05.
LEAN HOGS:
The lean hog complex is also trading higher as the market continues to see
adequate technical support, even though pork cutout values aren't trading
higher today. December lean hogs are up $0.50 at $81.05, February lean hogs are
up $0.80 at $81.80 and April lean hogs are up $0.90 at $85.62. At this point,
it's likely that the bulk of this week's trade in the cash hog market is
essentially done with, although a few more clean-up sales still could develop.
The projected lean hog index for 12/3/2025 is up $0.16 at $81.83 and the
actual index for 12/2/2025 is up $0.06 at $81.67. Hog prices are higher on the
Daily Direct Morning Hog Report, up $3.07 with a weighted average price of
$72.08, ranging from $68.00 to $74.00 on 1,113 head and a five-day rolling
average of $69.89. Pork cutouts total 159.00 loads with 139.68 loads of pork
cuts and 19.32 loads of trim. Pork cutout values: down $0.54, $93.48.
ShayLe Stewart can be reached at shayle.stewart@dtn.com
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