DTN Midday Livestock Comments          07/20 11:48

   Cattle Contracts Tick Higher at Midday Monday 

   With additional technical support, cattle contracts are trading higher. 

ShayLe Stewart
DTN Livestock Analyst

GENERAL COMMENTS:

   The livestock complex is off to a mixed start: cattle contracts are trading 
higher, while the lean hog complex is mixed. Showlists for the week are mixed 
as showlists are higher in Texas and Nebraska, but lower in Kansas. December 
corn is up 6 1/4 cents per bushel and December soybean meal is up $7.20. The 
Dow Jones Industrial Average is down 124.73 points and the NASDAQ is up 173.31 
points.

LIVE CATTLE:

   Following last week's disappointing trade, the live cattle contracts are 
trading higher into the fresh new week as traders are lending the market some 
additional support. August live cattle are up $1.70 at $226.12, October live 
cattle are up $2.02 at $222.75 and December live cattle are up $1.92 at 
$222.45. What remains unclear at this point is how long the technical support 
will last. And most likely it will hinge on whether or not any fundamental 
support develops later this week from either boxed beef prices or the fed cash 
cattle market. Showlists for the week are mixed as showlists are higher in 
Texas and Nebraska, but lower in Kansas.

   Last week, Southern live cattle traded at mostly $237 to $238, which is 
$10.00 to $11.00 lower than the previous week's weighted average and Northern 
dressed cattle traded at mostly $377 to $380, which is $12.00 to $15.00 lower 
than the previous week's weighted average.

   Boxed beef prices are higher: choice up $2.51 ($369.32) and select up $0.76 
($356.05) with a movement of 44 loads (24.55 loads of choice, 3.27 loads of 
select, 7.04 loads of trim and 8.64 loads of ground beef).

FEEDER CATTLE:

   The feeder cattle complex is also trading higher into midday Monday as the 
market is happy to follow the live cattle contracts higher into the new week. 
It's yet to be seen whether or not this technical support will remain for more 
than just a day's worth of trade, but it's a pleasant surprise for Monday's 
kickoff nonetheless. August feeder cattle are up $4.30 at $350.12, September 
feeders are up $5.12 at $344.47 and October feeders are up $5.15 at $337.97.

LEAN HOGS:

   The lean hog complex is trading mixed into midday Monday as the nearby 
contracts are hesitant and trading lower, but the deferred contracts are 
trading higher. August lean hogs are down $0.37 at $101.27, October lean hogs 
are down $0.20 at $87.75 and December lean hogs are up $0.22 at $79.00. If 
consumer support happens to strengthen later in the week, then there's a strong 
chance that traders could become more supportive of the contracts as they were 
last week.

   The projected lean hog index for 7/17/2026 is up $0.51 at $96.16 and the 
actual index for 7/16/2026 is up $0.55 at $95.65. Hog prices are not available 
on the Daily Direct Morning Hog Report because of confidentiality issues. 
However, we can see that only 198 head have traded and that the market's 
five-day rolling average now sits at $99.80. Pork cutouts total 152.84 loads 
with 125.59 loads of pork cuts and 27.25 loads of trim. Pork cutout values: 
down $0.73, $103.68.

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




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