DTN Midday Livestock Comments          09/17 11:49

   Livestock Traders Lack Fundamental Support

   Livestock contracts are trading mostly lower into midday Wednesday, as 
fundamental support is lacking.

ShayLe Stewart
DTN Livestock Analyst

GENERAL COMMENTS:

   Mostly lower tones are dominating the livestock complex at today's noon hour 
as the market's fundamental support has been essentially nonexistent. No trade 
has surfaced yet in the fed cash cattle market, but asking prices are firm in 
the South at $242. December corn is down 3 cents per bushel and December 
soybean meal is up $0.60. The Dow Jones Industrial Average is up 244.18 points 
and the NASDAQ is down 120.55 points.

LIVE CATTLE:

   With no substantial support arising from anywhere, it comes as no surprise 
that the live cattle contracts are again trading lower -- but upon seeing the 
spot December contract growing closer and closer to the market's 40-day moving 
average, anxiousness has again become the underlying tone of the live cattle 
complex. October live cattle are down $2.20 at $231.25, December live cattle 
are down $2.40 at $232.75 and February live cattle are down $2.47 at $234.52. 
Currently, the spot December contract is jumping a mere $0.20 above the 
market's 40-day moving average, which will be the threshold to watch and 
monitor through the day's close. Still no developments have surfaced in this 
week's fed cash cattle market, but asking prices are now noted at $242 in the 
South and remain unestablished in the North.

   Boxed beef prices are lower: choice down $4.89 ($387.73) and select down 
$4.28 ($368.89) with a movement of 98 loads (70.26 loads of choice, 11.74 loads 
of select, zero loads of trim and 15.56 loads of ground beef).

FEEDER CATTLE:

   The feeder cattle complex is also taking the day hard as most of its 
contracts are trading $4.00 to $5.00 lower into Wednesday's noon hour. October 
feeders are down $5.20 at $349.10, November feeders are down $4.87 at $344.52, 
and January feeders are down $5.40 at $337.10. Although prices in the 
countryside remain at a historical high, we are seeing the typical pullback in 
prices in the countryside as more unweaned and unvaccinated calves are trading.

LEAN HOGS :

   Without enough support developing in the market's fundamentals, the lean hog 
contracts have been left with no other option but to trade slightly lower. 
October lean hogs are up $0.17 at $97.55, December lean hogs are down $0.32 at 
$87.90 and February lean hogs are down $0.17 at $90.02. Midday pork cutout 
values are up slightly, mainly because of the $1.88 gain in the loin and the 
$1.69 gain in the rib.

   The projected lean hog index for 9/16/2025 is down $0.14 at $105.86, and the 
actual index for 9/15/2025 is down $0.14 at $106.00. Hog prices are higher on 
the Daily Direct Morning Hog Report, up $0.28 with a weighted average price of 
$106.25, ranging from $100.00 to $110.00 on 3,692 head and a five-day rolling 
average of $105.99. Pork cutouts total 166.69 loads with 141.38 loads with 
141.38 loads of pork cuts and 25.31 loads of trim. Pork cutout values: up 
$0.46, $112.74.

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

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




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