DTN Midday Livestock Comments          09/28 11:47

   Weaker Tones Take Over the Livestock Complex at Midday Monday

   New showlists for the week are lower in Texas and Kansas, but higher in 
Nebraska.

ShayLe Stewart
DTN Livestock Analyst

GENERAL COMMENTS:

   Thus far, it's been a rather uneventful start to the week as traders are 
letting the livestock contracts drift lower into midday Monday. New showlists 
for the week are lower in Texas and Kansas, but higher in Nebraska. December 
corn is down 6 cents per bushel and December soybean meal is down $10.10. The 
Dow Jones Industrial Average is down 194.17 points and the NASDAQ is down 
129.23 points.

LIVE CATTLE:

   Without having great confidence in whether or not fundamental support will 
arise this week, traders are merely letting the live cattle contracts chop 
sideways into midday Monday. October live cattle are down $0.75 at $218.12, 
December live cattle are down $1.25 at $220.90 and February live cattle are 
down $1.02 at $223.27. Currently, the spot December live cattle contract is 
hovering above its 40-day moving average, but in order for the market to 
maintain its position above that threshold, it will be imperative that 
fundamental support arises sometime this week. The cash cattle market remains 
quiet at midday Monday. No bids or asking prices have been established yet this 
week. New showlists for the week are lower in Texas and Kansas, but higher in 
Nebraska. Trade will likely be delayed until the later half of the week again.

   Boxed beef prices are higher: choice up $2.71 ($381.54) and select up $1.86 
($357.62) with a movement of 46 loads (24.92 loads of choice, 7.79 loads of 
select, 7.95 loads of trim and 5.33 loads of ground beef).

FEEDER CATTLE:

   And in keeping with the live cattle complex, the feeder cattle contracts are 
also trading lower. October feeders down $2.22 at $332.70, November feeders 
down $1.82 at $330.15 and January feeders down $1.17 at $323.17. October is 
commonly known as "dead calf month" as the seasonal weather changes impose 
immense stress on freshly weaned calves. It's common that these unweaned calves 
will see a discount at sale barns as buyers know that their risk is high on 
those purchases.

LEAN HOGS :

   And the lean hog complex is keeping with its uneventful, bleak tone as again 
today its contracts are trading lower. October lean hogs are up $0.47 at 
$78.70, December lean hogs are down $0.17 at $68.85 and February lean hogs are 
down $0.30 at $70.02. And until traders see a noticeable change in consumer 
demand, it's likely that the complex may merely chop sideways. The projected 
lean hog index for 9/25/2026 is down $0.55 at $81.21, and the actual index for 
9/24/2026 is down $0.44 at $81.76. Hog prices are unavailable on the Daily 
Direct Morning Hog report because of confidentiality. However, we can see that 
only 306 head have traded and that the market's five-day rolling average now 
sits at $79.72. Pork cutouts total 139.40 loads, with 129.70 loads of pork cuts 
and 9.70 loads of trim. Pork cutout values: up $0.52, $87.26.

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




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