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DTN Midday Livestock Comments 06/12 11:26
Cattle Dip Lower Friday, While Hogs Run Higher
With no substantial cash cattle trade having developed yet, the market will
need to get busy before the day expires.
ShayLe Stewart
DTN Livestock Analyst
GENERAL COMMENTS:
Mixed tones continue to follow the livestock complex as now the cattle
contracts are trading lower but the lean hog contracts are scaling higher. Bids
are on the table for the cash market, but no cattle have traded just yet. July
corn is up 3 1/4 cents per bushel and July soybean meal is up $0.40. The Dow
Jones Industrial Average is up 368.96 points and NASDAQ is up 62.96 points.
LIVE CATTLE:
Once again, the market's resistance at its 40-day moving average becomes too
much for traders to bear, which is mainly why the complex is trading lower into
Friday's noon hour. But it also isn't helpful that the market has yet to see
any cash cattle trade develop. At this point, even if the fed cash cattle
market is able to trade cattle higher, it won't likely have much of a positive
effect on the complex ahead of the close. June live cattle are down $2.25 at
$249.22, August live cattle are down $2.75 at $239.92 and October live cattle
are down $2.75 at $232.65. A few bids are currently being offered in the cash
cattle market (in both regions) but at this point feedlot managers are passing
on them. Live asking prices are noted at $260 in Nebraska.
Boxed beef prices are mixed: choice down $0.10 ($393.11) and select up $0.73
($373.98) with a movement of 58 loads (41.80 loads of choice, 5.41 loads of
select, 4.38 loads of trim and 5.92 loads of ground beef).
FEEDER CATTLE:
Like the live cattle complex, the feeder cattle contracts are trading lower
into Friday's noon hour as the market isn't seeing the technical or fundamental
support it needs right now to push the contracts any higher. August feeder
cattle are down $3.92 at $355.72, September feeders are down $3.62 at $352.90
and October feeders are down $3.52 at $349.27. Aside from the lack of technical
support from the live cattle contracts, the feeder cattle contracts are
currently under pressure from the market's resistance at its 40-day moving
average.
LEAN HOGS:
The lean hog complex has thankfully found some technical support which is
helping it trade higher into Friday's noon hour. Luckily the market has been
able to chop merely sideways in recent trading days; which leads one to believe
some sort of a technical bottom is forming for this current move. Plus, it's
also helpful that pork cutouts are more than $3.00 higher on Friday's midday
report. July lean hogs are up $0.67 at $97.30, August lean hogs are up $0.25 at
$96.15 and October lean hogs are up $0.22 at $81.30. The projected CME Lean Hog
Index for 6/11/2026 is down $0.15 at $92.75 and the actual index for 6/10/2026
is down $0.02 at $92.90. Hog prices are lower on the Daily Direct Morning Hog
Report, down $3.34 with a weighted average price of $94.26, ranging from $91.00
to $97.00 on 933 head and a five-day rolling average of $96.73. Pork cutouts
total 161.29 loads with 152.99 loads of pork cuts and 8.29 loads of trim. Pork
cutout values: up $3.31, $97.78.
**
NOTE: The cattle complex has seen record-high prices in the last year. But
it's also been saddled with record-high risk and volatility, among many other
challenges. To better understand these cattle market challenges, join DTN
Livestock Analyst ShayLe Stewart for the inaugural Beef Industry Exchange
webinar hosted by Senior Livestock Editor Jennifer Carrico at 9 a.m. CDT on
June 24.
In addition to ShayLe's cattle market update, DTN Ag Meteorologist John
Baranick shares how variability and a building Super El Nino might save or doom
U.S. pastures. Due to widespread drought conditions across the U.S., cow-calf
producers may be considering a reduction of the herd. To prepare for this,
University of Nebraska Lincoln Beef Systems Extension Educator Aaron Berger
shares different strategies to set up cow herd rebuilding when it rains again.
Register for the free webinar today:
https://nam11.safelinks.protection.outlook.com/?url=https%3A%2F%2Fdtn.link%2FBee
fIndustryExchange&data=05%7C02%7CShayLe.Stewart%40dtn.com%7C807fda3c4c664a981f56
08dec80477bd%7Cd945da26f07f451496e79b8f78a743d0%7C0%7C0%7C639168118666557498%7CU
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sIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&sdata=a%2FtPqafYceayKwxrJwKUOZbwp
xYy%2Fyl9GApRVSeVW0A%3D&reserved=0
ShayLe Stewart can be reached shayle.stewart@dtn.com
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