DTN Midday Livestock Comments          12/18 11:29

   Dressed Cattle Cash Begin to Trade $4.00 Higher

   Some light cash cattle trade is currently developing in the North at $358, 
which is $4.00 higher than last week's weighted average.

ShayLe Stewart
DTN Livestock Analyst

GENERAL COMMENTS:

   The livestock complex is trading mixed into Thursday's noon hour as the 
complex continues to see the cattle contracts dip lower, but the lean hog 
contracts are trading higher. Some light cash cattle trade has developed in the 
North at $358, which is $4.00 higher than last week's weighted average. March 
corn is up 3 1/2 cents per bushel and January soybean meal is up $1.20. The Dow 
Jones Industrial Average is up 105.57 points and the NASDAQ is up 308.15 points.

LIVE CATTLE:

   The live cattle complex is again trading lower, as though some light cash 
cattle trade has been reported at higher prices again this week, traders still 
don't believe they possess enough well-rounded support to successfully conquer 
the market's 100-day moving average. This leaves the complex only one way to 
go, which is lower. February live cattle are down $0.90 at $228.65, April live 
cattle are down $0.62 at $228.50 and June live cattle are down $0.37 at 
$222.37. Even though packers bought the largest weekly trade volume of 2024 and 
2025 last week at just over 103,000 head, fed cash cattle prices are trending a 
tick higher again this morning as packers are still in need of more cattle. 
Some light trade has been reported in the North by a regional packer at $358, 
which is $4.00 higher than last week's weighted average. A few more bids are on 
the table in parts of Kansas, but no Southern trade has developed yet. Asking 
prices remain firm in the South at $232 to $233, and in the North at $360 plus.

   Boxed beef prices are mixed: choice up $0.95 ($357.04) and select down $2.38 
($344.05) with a movement of 46 loads ($31.77 loads of choice, 6.76 loads of 
select, zero loads of trim and 7.52 loads of ground beef).

FEEDER CATTLE:

   Continuing to follow the direction of the live cattle complex, the feeder 
cattle contracts are trading lower into Thursday's noon hour. January feeders 
are down $0.67 at $340.85, March feeders are down $1.40 at $334.92 and April 
feeders are down $1.70 at $333.32. Although the market continues to see 
adequate fundamental support, it's likely the complex could keep with this 
steady/somewhat lower trend as traders don't believe this is the best time to 
advance the complex over a major resistance threshold with the Christmas 
holiday just days ahead.

LEAN HOGS:

   The lean hog complex is trading mostly higher as traders are to see pork 
cutout values up over $2.00 higher. And with Wednesday's lower technical close, 
the market is no longer up against immediate resistance pressure. February lean 
hogs are up $0.87 at $83.87, April lean hogs are up $0.87 at $88.82 and June 
lean hogs are up $0.85 at $101.52.

   The projected lean hog index for 12/17/2025 is up $0.01 at $83.88, and the 
actual index for 12/16/2025 is up $0.57 at $83.87. Pork cutouts total 98.45 
loads with 78.24 loads of pork cuts and 20.21 loads of trim. Pork cutout 
values: up $2.18, 100.72. Hog prices on the Daily Direct Morning Hog Report 
average $68.27, down $1.90, ranging from $65.00 to $70.00 on 1,670 head and a 
five-day rolling average of $70.20.

   ShayLe Stewart can be reached at shayle.stewart@dtn.com




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