DTN Midday Livestock Comments          10/26 11:51

   Cattle Inch Higher While Hogs Remain Hesitant Midday Monday

   New showlists for the week are steady in Kansas, but slightly higher in 
Texas and Nebraska.

ShayLe Stewart
DTN Livestock Analyst

GENERAL COMMENTS:

   The livestock complex is trading mixed into midday Monday as the cattle 
contracts rally thanks to last week's success, but the lean hog complex isn't 
as confident given that pork demand has been so finicky. New showlists for the 
week are steady in Kansas, but slightly higher in Texas and Nebraska. December 
corn is down 1/2 cent per bushel and December soybean meal is down $6.10. The 
Dow Jones Industrial Average is up 100.60 points and the NASDAQ is up 240.32 
points. 

LIVE CATTLE:

   Following last week's bullish Cattle on Feed report, the live cattle complex 
is again trading higher into midday Monday. Although it feels odd to say, it's 
still unclear exactly where fed cash cattle prices landed last week as trade 
was light and didn't develop until late Friday and Saturday. But some live 
cattle trade was noted in the South at $230, and Northern dressed cattle were 
rumored to have traded anywhere from $358 to $362. But before we can say 
certainly where the week's weighted averages landed, we will have to see what 
the midday report unveils. Either way, the market is charging higher into 
midday Monday, grateful for strong fundamental support. October live cattle are 
up $0.02 at $229.90, December live cattle are steady at $231.12 and February 
live cattle are up $0.75 at $234.10. New showlists for the week are steady in 
Kansas, but slightly higher in Texas and Nebraska. 

   Boxed beef prices are higher: choice up $3.37 ($369.16) and select up $4.36 
($357.05) with a movement of 39 loads (22.21 loads of choice, 3.44 loads of 
select, 7.30 loads of trim and 5.86 loads of ground beef).

FEEDER CATTLE:

   The feeder cattle complex is again climbing higher into midday Monday as 
traders feel as though the market is well supported by ample fundamental 
support. October feeders are up $1.02 at $349.35, November feeders are up $0.25 
at $348.37 and January feeders are up $0.47 at $345.80. And so long as the live 
cattle complex continues to trade higher, the feeder cattle complex will likely 
follow suit. 

LEAN HOGS:

   The lean hog complex is trading lower into midday Monday, as although midday 
pork cutout values are a tick higher, traders aren't willing to advance the 
contracts simply because prices are higher for a day. Pork demand has been a 
lingering issue for the hog complex, and it's not likely that the market is 
going to change its direction until there's greater confidence that consumers 
are going to show more interest. The projected lean hog index for 10/23/2026 is 
down $1.08 at $70.08, and the actual index for 10/22/2026 is down $0.99 at 
$71.16. Hog prices average $66.18 on the Daily Direct Morning Hog Report, 
ranging from $63.50 to $67.00 on 535 head and a five-day rolling average price 
of $66.99. Pork cutouts totaled 190.85 loads, with 171.32 loads of pork cuts 
and 19.53 loads of trim. Pork cutout values: up $1.31, $75.40.

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




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