DTN Midday Livestock Comments          08/04 11:50

   Pleased With Stronger Consumer Demand, Traders Push the Livestock Contracts 
Higher

   With consumer demand stronger for both boxed beef prices and pork cutout 
values, the livestock contracts are rallying into Tuesday's noon hour.

ShayLe Stewart
DTN Livestock Analyst

GENERAL COMMENTS:

   The livestock contracts are trading mostly higher into Tuesday's noon hour 
as traders are pleased to see both boxed beef prices and pork cutout values 
stronger. No cash cattle trade has developed yet, but bids are on the table in 
Nebraska at $368. December corn is down 7 1/2 cents per bushel and December 
soybean meal is down $3.80. The Dow Jones Industrial Average is up 937.07 
points and NASDAQ is up 557.06 points.

LIVE CATTLE:

   The live cattle complex is back to trading higher as traders find some mild 
support in stronger boxed beef prices, and hope that later this week, the fed 
cash cattle market will lend the market even more support. August live cattle 
are up $0.22 at $231.32, October live cattle are up $0.42 at $227.15 and 
December live cattle are up $0.37 at $226.60. No cash cattle trade has 
developed yet, but bids are currently on the table at $368 in Nebraska. But 
with feedlot managers potentially seeing an opportunity in the market to push 
prices higher again this week, it's likely that trade will be delayed until the 
later part of the week.

   Boxed beef prices are higher: choice up $2.76 ($369.49) and select up $1.29 
($345.74) with a movement of 55 loads (39.13 loads of choice, 6.55 loads of 
select, zero loads of trim and 9.48 loads of ground beef).

FEEDER CATTLE:

   The feeder cattle complex continues to closely mirror the behavior of the 
live cattle complex as most of its contracts are trading higher into the day's 
noon hour as well. It is, however, interesting to note that the furthest 
deferred contracts are slightly lower, possibly because traders anticipate 
greater imports from Mexico at that time. August feeders are up $2.77 at 
$350.60, September feeders are up $3.32 at $345.87 and October feeders are up 
$2.92 at $336.62.

LEAN HOGS:

   The lean hog complex is trading higher into Tuesday's noon hour as traders 
are relieved to see pork cutout values stronger. The biggest driving factor 
right now on whether or not the futures contracts will trade higher or lower is 
consumer demand, and luckily Tuesday's demand is helping keep the contracts 
elevated. August lean hogs are up $0.10 at $97.62, October lean hogs are up 
$0.05 at $83.72 and December lean hogs are down $0.17 at $75.20. The projected 
lean hog index for 8/3/2026 is down $0.51 at $97.17, and the actual index for 
7/31/2026 is down $0.55 at $97.68. Hog prices on the Daily Direct Morning Hog 
Report average $99.43, ranging from $98.00 to $101.00 on 3,590 head, and a 
five-day rolling average of $100.30. Pork cutouts total 154.46 loads with 
147.63 loads of pork cuts and 6.83 loads of trim. Pork cutout values: up $1.64, 
$102.55.

   ShayLe Stewart can be reached [email protected]




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