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DTN Midday Livestock Comments 04/21 11:42
Cattle Futures Remain on Edge Tuesday, While Hogs Trade Higher
Cattle futures are trading lower as another case of New World screwworm has
been detected approximately 60 miles south of the Texas border.
ShayLe Stewart
DTN Livestock Analyst
GENERAL COMMENTS:
The livestock complex is mixed heading into Tuesday's noon hour as the
cattle contracts remain on edge upon hearing about yet another new case of New
World screwworm detected just 60 miles south of the Texas border. But with the
increase of consumer demand, the lean hog contracts are trading higher. Still
no cash cattle trade has developed. May corn is up 1 3/4 cents per bushel and
July soybean meal is down $1.00. The Dow Jones Industrial Average is down 82.22
points and NASDAQ is down 50.72 points.
LIVE CATTLE:
The big news Tuesday morning for the cattle complex has been another
confirmed case of New World screwworm in northern Mexico, just a mere 60 miles
from the Texas border. The futures complex is trading lower upon hearing about
the news and will likely keep this slightly bearish tone through Tuesday's end.
April live cattle are down $0.80 at $248.80, June live cattle are down $1.15 at
$244.92 and August live cattle are down $0.82 at $240.77. There's currently a
single bid sitting on the table in Kansas at $246, but otherwise the market
hasn't seen any other interest from packers arise. Asking prices remain elusive
at this point and it's fully anticipated trade will be delayed until later in
the week. Last, but not least, it is worth noting that choice prices are below
select prices again as supplies of lean beef remain limited heading into prime
grilling season.
Boxed beef prices are higher: choice up $3.49 ($387.05) and select up $5.45
($389.06) with a movement of 59 loads (37.05 loads of choice, 4.53 loads of
select, 6.40 loads of trim and 11.07 loads of ground beef).
FEEDER CATTLE:
In alignment with the live cattle complex, the feeder cattle contracts are
also trading lower into Tuesday's noon hour. April feeders are down $2.37 at
$366.50, May feeders are down $0.90 at $360.20 and August feeders are down
$0.62 at $360.65. Last week demand was red hot in the countryside for feeder
cattle, but thus far this week the market has seen more mixed interest from
buyers as they're soberly aware of the board's current lower demeanor.
LEAN HOGS:
Finally, after a painful (very painful) nine-day downward trend, the lean
hog complex is trading higher. More than anything the market has finally found
some consumer support, which is helping traders put a bottom in the market's
current move. June lean hogs are up $1.40 at $103.12, July lean hogs are up
$1.35 at $105.35 and August lean hogs are up $1.32 at $105.32. The projected
CME Lean Hog Index for 4/20/2026 is up $0.14 at $90.51, and the actual index
for 4/17/2026 is down $0.14 at $90.37. Hog prices on the Daily Direct Morning
Hog Report average $91.73, ranging from $88.00 to $93.00 on 2,415 head and a
five-day rolling average of $91.79. Pork cutouts total 170.62 loads with 148.96
loads of pork cuts and 21.66 loads of trim. Pork cutout values: up $0.01,
$100.21.
ShayLe Stewart can be reached shayle.stewart@dtn.com
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