DTN Midday Livestock Comments          10/27 11:38

   Weaker Tones Push Most of the Livestock Contracts Lower 

   No cash cattle trade has developed yet and asking prices remain elusive too. 

ShayLe Stewart
DTN Livestock Analyst

GENERAL COMMENTS:

   The livestock complex is trading mostly lower into Tuesday's noon hour as 
traders continue to yearn for increased fundamental support. No cash cattle 
trade has developed at this point and it's likely that trade will be delayed 
until Friday. December corn is down 4 3/4 cents per bushel and December soybean 
meal is down $4.10. The Dow Jones Industrial Average is up 25.55 points and the 
NASDAQ is up 346.36 points.

LIVE CATTLE:

   The live cattle complex is trading mostly lower into Tuesday's noon hour as 
although traders recognize the rally in boxed beef prices -- they want to see 
what the fed cash cattle market is going to accomplish this week before they 
will likely support the contracts much more. And if this week's trade is 
anything like what we've seen in recent weeks -- trade will likely be delayed 
until Friday. No trade has developed yet and both bids and asking prices remain 
elusive at this point too. October live cattle are up $0.17 at $230.15, 
December live cattle are down $0.47 at $230.72 and February live cattle are 
down $0.77 at $233.50.  

   Boxed beef prices are higher: choice up $4.15 ($373.59) and select up $2.55 
($360.11) with a movement of 76 loads (44.79 loads of choice, 7.72 loads of 
select, 8.59 loads of trim and 14.65 loads of ground beef). 

FEEDER CATTLE:

   And although most of the live cattle contracts are trading lower, some of 
the nearby feeder cattle contracts are continuing to trade higher as traders 
are pleased with the demand in which feeder cattle/calves are bringing at sale 
barns across the country. October feeders are up $2.62 at $352.52, November 
feeders are up $1.10 at $349.65 and January feeders are up $0.40 at $346.40. 
The feeder cattle complex may be able to maintain its modest rally in nearby 
contracts through the day's end, but if the complex is to rally throughout the 
week -- seeing continued support from the live cattle complex will be vital. 

LEAN HOGS:

   A lack of consumer demand continues to erode the lean hog complex, and the 
market is currently enduring a staggering decline this morning. December lean 
hogs are down $2.37 at $62.30, February lean hogs are down $1.92 at $65.10 and 
April lean hogs are down $2.10 at $70.20. Given that market is currently 
trading at its lowest price since January of 2024 -- it's tough telling where 
the market's technical support could be found next. The projected lean hog 
index for Oct. 26 is down $0.70 at $69.36 and the actual index for Oct. 23 is 
down $1.10 at $70.06. Hog prices are lower on the Daily Direct Morning Hog 
Report, down $4.36 with a weighted average price of $61.82, ranging from $55 to 
$67 on 2,496 head and a five-day rolling average of $65.83. Pork cutouts total 
198.85 loads with 178.76 loads of pork cuts and 20.09 loads of trim. Pork 
cutout values: down $0.99, $72.81. 

   ShayLe Stewart can be reached [email protected]




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