DTN Midday Livestock Comments          07/31 11:46

   Packers are Offering Bids Friday, But Feedlot Managers Want More Money 

   At any point, now cash cattle trade is expected to cut loose and begin to 
really develop as, thus far, this week's movement has been thin. 

ShayLe Stewart
DTN Livestock Analyst

GENERAL COMMENTS:

   The livestock complex is again trading mixed into the day's noon hour as the 
cattle contracts keep moving higher but the lean hog complex is weaker. Bids 
are on the table in the cash cattle market, but trade has yet to cut loose. 
December corn is down 6 1/2 cents per bushel and December soybean meal is down 
$3.10. The Dow Jones Industrial Average is up 236.14 points and NASDAQ is up 
147.92 points.

LIVE CATTLE:

   Although there's yet to be a solid movement in this week's fed cash cattle 
market, the live cattle futures continue to scale higher as we head into 
Friday's noon hour. August live cattle are up $0.57 at $231.80, October live 
cattle are up $0.22 at $227.67 and December live cattle are up $0.55 at 
$227.27. But with midday boxed beef prices higher, feedlot managers will likely 
try to wait the week out until the bitter end in hopes of getting prices 
improved this week. Bids have resurfaced and packers are offering $365 to $368 
in Nebraska, but still no new trade has developed. Asking prices are firm at 
$235-plus in the South and $370 in the North.

   Boxed beef prices are higher: choice up $1.03 ($361.53) and select up $5.82 
($347.15) with a movement of 51 loads (32.59 loads of choice, 7.04 loads of 
select, 5.79 loads of trim and 5.66 loads of ground beef).

FEEDER CATTLE:

   It's been a refreshing week for the feeder cattle complex. The continued 
support of the live cattle contract's higher trend is likely to lift the feeder 
cattle futures to a stronger close. August feeders are up $1.10 at $347.57, 
September feeders are up $1.47 at $343.92 and October feeders are up $1.92 at 
$335.95. Demand has been steady at best in the countryside, so this week's 
advancement on the board has solely been a technical decision by traders.

LEAN HOGS:

   After the last two days where the lean hog contracts tumbled lower thanks to 
a lack of consumer support, the market has found some trader support Friday 
which is helping keep the contracts stabilized and trading higher. August lean 
hogs are up $0.65 at $99.07, October lean hogs are up $1.62 at $84.97 and 
December lean hogs are up $1.40 at $75.92. Unfortunately, consumer support 
hasn't improved Friday and that could cause more heartache and downward 
pressure for the contracts in upcoming days.

   The projected CME Lean Hog Index for 7/30/2026 is down $0.21 at $98.23 and 
the actual index for 7/29/2026 is down $0.01 at $98.44. Hog prices are lower on 
the Daily Direct Morning Hog Report, down $0.03 with a weighted average price 
of $100.49, ranging from $98.00 to $102.50 on 1,596 head and a five-day rolling 
average of $101.14. Pork cutouts total 215.31 loads with 201.49 loads of pork 
cuts and 13.83 loads of trim. Pork cutout values: down $0.18, $101.46.

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




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