DTN Midday Livestock Comments          10/20 11:52

   Livestock Traders Jump Back in the Markets Monday

   The livestock complex is trading higher at midday Monday, as traders seem to 
be willing to mildly advance the marketplace following Friday's sharp decline.

ShayLe Stewart
DTN Livestock Analyst

GENERAL COMMENTS:

   Although the cattle complex was shaken on Friday because of President 
Trump's announcement that he plans to cheapen beef prices, the market is 
rebounding mildly on Monday following the sharp sell off. New showlists appear 
to be lower in all major feeding areas again this week. December corn is down 
1/4 cent per bushel and December soybean meal is steady. The Dow Jones 
Industrial Average is up 402.66 points and the NASDAQ is up 299.70 points.

LIVE CATTLE:

   The live cattle complex is luckily trading higher early this week, as 
traders seem to be moving past the emotion turmoil that ran rampant throughout 
the marketplace on Friday as President Trump stated that he wants beef prices 
to cheapen. Mix President Trump's comments with the fact that the spot December 
live cattle contract rallied $13.35 in a matter of 13 days, money managed funds 
and traders alike were both getting leery of how high the market had quickly 
come. But thankfully supporting the market's bullish uptick in the futures 
complex has been the notable turn in consumer demand and the help of stronger 
fed cash cattle prices. December live cattle are up $1.75 at $243.60, February 
live cattle are up $1.55 at $244.37 and April live cattle are up $244.67. New 
showlists appear to be lower in all major feeding areas again this week.

   Last week Northern cattle traded for mostly $372, which is $9.00 higher than 
the previous week's weighted average, and Southern live cattle traded at mostly 
$240 which is $5.00 higher than the previous week's weighted average.

   Boxed beef prices are higher: choice up $2.09 ($368.86) and select up $2.65 
($352.92) with a movement of 41 loads (21.23 loads of choice, 5.89 loads of 
select, zero loads of trim and 14.25 loads of ground beef).

FEEDER CATTLE:

   Along with the live cattle complex, the feeder cattle contracts are trading 
higher into Monday's noon hour. November feeders are up $2.12 at $373.75, 
January feeders are up $1.10 at $370.40 and March feeders are up $0.50 at 
$367.95. The market, more than anything, just seems to be finding some 
stability following the sharp decline that occurred on Friday. Last week feeder 
cattle prices skyrocketed in the countryside, and hopefully buyer demand will 
remain strong again this week and lend the market additional fundamental 
support.

LEAN HOGS:

   After closing lower Friday afternoon, the lean hog complex is back to 
trading slightly higher as the market could be finding some technical footing 
and luckily pork demand is up slightly this morning. December lean hogs are 
down $0.05 at $82.32, February lean hogs are up $0.17 at $84.95 and April lean 
hogs are up $0.42 at $89.07. It will be crucial that demand remains a strong 
factor this week if the futures complex is going to attempt to trade higher.

   The projected lean hog index for 10/17/2025 is down $0.54 at $95.58, and the 
actual index for 10/16/2025 is down $0.47 at $96.12. Hog prices are higher on 
the Daily Direct Morning Hog Report, up $0.79 with a weighted average price of 
$90.60, ranging from $89.00 to $97.00 on 2,098 head and a five-day rolling 
average of $92.88. Pork cutouts totaled 203.53 loads with 174.47 loads of pork 
cuts and 29.05 loads of trim. Pork cutout values: up $0.60, $103.30.

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




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