DTN Midday Livestock Comments          12/04 11:44

   Traders Continue to Push Livestock Contracts Higher at Midday Thursday

   No cash cattle trade has developed yet, but bids are currently on the table 
in both regions.

ShayLe Stewart
DTN Livestock Analyst

GENERAL COMMENTS:

   The livestock contracts are trading fully higher into midday Thursday, as 
the market is pleased to see continued interest from traders. Now, both midday 
pork cutout values and boxed beef prices are lower, but the cash cattle complex 
is holding its breath, hoping that the fed cash cattle market will trade higher 
later this week. March corn is up 3 1/2 cents per bushel and January soybean 
meal is up $1.10. The Dow Jones Industrial Average is down 51.12 points and the 
NASDAQ is up 10.49 points.

LIVE CATTLE:

   The live cattle complex is trading higher into Thursday's noon hour, 
although midday boxed beef prices are lower, traders are hopeful that the fed 
cash cattle market will trade cattle stronger later this week. A few bids are 
currently on the table at $218 live in Kansas, and $216 live and $335 to $340 
dressed in Nebraska but no cattle have traded yet. Asking prices are firm at 
$225 in the South and $340 plus in the North. The market still has plenty of 
room to trade higher before it runs into resistance pressure, which will likely 
happen around the market's 100-day moving average ($231.33).

   Boxed beef prices are lower: choice down $0.78 ($363.03) and select down 
$3.22 ($349.90) with a movement of 86 loads (67.88 loads of choice, 14.18 loads 
of select, zero loads of trim and 4.39 loads of ground beef).

FEEDER CATTLE:

   Upon seeing the live cattle contracts continue to trade higher, the feeder 
cattle contracts are currently pushing a moderate $1.00 to $3.00 rally into 
Thursday's noon hour. This week's rally hasn't only developed throughout the 
futures complex, but its support has also affected feeder cattle prices, which 
are trading higher in the countryside once again. January feeders are up $3.22 
at $335.07, March feeders are up $2.52 at $328.37 and April feeders are up 
$1.87 at $327.05.

LEAN HOGS:

   The lean hog complex is also trading higher as the market continues to see 
adequate technical support, even though pork cutout values aren't trading 
higher today. December lean hogs are up $0.50 at $81.05, February lean hogs are 
up $0.80 at $81.80 and April lean hogs are up $0.90 at $85.62. At this point, 
it's likely that the bulk of this week's trade in the cash hog market is 
essentially done with, although a few more clean-up sales still could develop.

   The projected lean hog index for 12/3/2025 is up $0.16 at $81.83 and the 
actual index for 12/2/2025 is up $0.06 at $81.67. Hog prices are higher on the 
Daily Direct Morning Hog Report, up $3.07 with a weighted average price of 
$72.08, ranging from $68.00 to $74.00 on 1,113 head and a five-day rolling 
average of $69.89. Pork cutouts total 159.00 loads with 139.68 loads of pork 
cuts and 19.32 loads of trim. Pork cutout values: down $0.54, $93.48.

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




(c) Copyright 2025 DTN, LLC. All rights reserved.