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DTN Midday Livestock Comments 06/16 11:53
Strong Demand Helps Keep Livestock Contracts Higher
Following Friday's sharply lower close the cattle complex is back to trading
higher Monday thanks to strong beef demand.
ShayLe Stewart
DTN Livestock Analyst
GENERAL COMMENTS:
The livestock complex is off to a fruitful start Monday as the market is
pleased to see strong consumer demand early this week. New showlists appear to
be higher in all major feeding states. July corn is down 11 1/4 cents per
bushel and July soybean meal is down $7.50. The Dow Jones Industrial Average is
up 368.89 points and NASDAQ is up 285.31 points.
LIVE CATTLE:
After feeling immensely pressured from a technical standpoint last Friday,
the live cattle complex is beginning to regain some ground early this week as
most of the nearby contracts are trading $2.00 to $3.00 higher. August live
cattle are up $3.10 at $215.55, October live cattle are up $2.82 at $212.75 and
December live cattle are up $2.55 at $213.17. Like last week, it's unlikely any
cash cattle trade will develop until Wednesday at the absolute earliest. But
seeing boxed beef prices higher Monday morning does keep bull-spreaders hopeful
the market's fundamentals will remain supportive this week. Do note that on
Friday of this week the monthly Cattle on Feed report will be released. New
showlists appear to be higher in all major feeding states.
Last week Southern live cattle traded at mostly $235, which is $4.00 to
$5.00 higher than the previous week's weighted average, and Northern dressed
cattle traded at mostly $380, which is steady with the previous week's weighted
average.
Boxed beef prices are higher: choice up $2.03 ($379.91) and select up $2.67
($366.17) with a movement of 47 loads (21.56 loads of choice, 10.25 loads of
select, 5.46 loads of trim and 9.49 loads of ground beef).
FEEDER CATTLE:
With the help of continued fundamental support and active trade Monday
morning in the live cattle complex, feeder cattle contracts are confidently
higher as the market has more than enough support to justify higher trade.
August feeders are up $3.60 at $310.10, September feeders are up $3.75 at
$309.35 and October feeders are up $3.87 at $307.22. Starting Tuesday, June 17,
Superior Livestock Auction will be hosting their first online sale for the
season, the Corn Belt Classic, in Sioux City, Nebraska. The sale is cataloged
to offer 104,011 head and it will be a great opportunity to see what feeder
cattle prices are expected to be later this fall.
LEAN HOGS:
The lean hog complex is rocking and rolling Monday morning as the market is
trading at new contract highs yet again as traders continue to be pleased with
the consumer support they're receiving. July lean hogs are up $1.97 at $111.45,
August lean hogs are up $1.67 at $111.80 and October lean hogs are up $1.50 at
$95.70. Monday morning the big $3.00 gain in the picnic is helping push the
carcass price higher more than anything.
The projected CME Lean Hog Index for 6/13/2025 is up $0.89 at $103.70 and
the actual index for 6/12/2025 is up $1.05 at $102.81. Hog prices are higher on
the Daily Direct Morning Hog Report, up $2.51 with a weighted average price of
$106.56, ranging from $100.00 to $110.00 on 512 head and a five-day rolling
average of $105.99. Pork cutouts total 114.31 loads with 102.65 loads of pork
cuts and 11.66 loads of trim. Pork cutout values: up $0.87, $118.93.
**
Editor's Note: Get ahead of the herd with the latest insights on the cattle
market's changing cycle. Join us on Tuesday, June 24, from 10 a.m. CDT to noon
for an in-depth analysis of how weather patterns, trade disruptions, and
drought are reshaping the beef industry's traditional 10-year cycle. Oklahoma
State University Livestock Marketing Specialist Dr. Derrell Peel shares what
the cowherd of the future will look like, while DTN experts share details on
weather conditions for forage and pastures, hay market dynamics and what it all
means for fat and live cattle prices. Register for free here:
https://dtn.link/AgSummitSeries-Summer2025 .
**
ShayLe Stewart can be reached shayle.stewart@dtn.com
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