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DTN Midday Livestock Comments 05/28 11:37
Lackadaisical Tones Take Over Livestock Complex
A single bid is currently being offered in the cash cattle market, but still
no cattle have traded.
ShayLe Stewart
DTN Livestock Analyst
GENERAL COMMENTS:
Thus far it's been a quiet and mundane day for the livestock complex without
much developing. There's a single cash bid on the table in Kansas at $253;
otherwise no cash business has developed. July corn is up 3 3/4 cents per
bushel and July soybean meal is up $3.90. The Dow Jones Industrial Average is
up 36.52 points and NASDAQ is up 206.26 points.
LIVE CATTLE:
With boxed beef prices lower and still no cash cattle trade developing, the
live cattle futures are trading slightly lower into Thursday's noon hour. June
live cattle are down $0.92 at $250.50, August live cattle are down $0.27 at
$242.22 and October live cattle are down $0.27 at $233.70. A single bid is on
the table in Kansas at $253, but otherwise the cash market sits idle with no
business yet. With it being a holiday-shortened week, export data will be
released on Friday.
Boxed beef prices are lower: choice down $2.23 ($392.49) and select down
$1.96 ($387.33) with a movement of 57 loads (44.54 loads of choice, 5.37 loads
of select, zero loads of trim and 6.79 loads of ground beef).
FEEDER CATTLE:
The feeder cattle complex is also trading mostly lower, other than the
November 2026 and January 2027 contracts. But without the support of the live
cattle contracts, the feeder cattle complex isn't willing to boldly step out
and trade higher by itself. August feeders are down $0.22 at $354.40, September
feeders are down $0.10 at $351.70 and October feeders are down $0.12 at $348.35.
LEAN HOGS:
The lean hog contracts are lower as traders aren't willing to advance the
contracts following Wednesday's modest move higher. It's unfortunate because
Thursday there's signs of stronger consumer support with the midday pork cutout
values up over $2.00. But traders are leery of being too ambitious. June lean
hogs are down $0.55 at $97.05, July lean hogs are down $0.07 at $102.07 and
August lean hogs are down $0.10 at $100.75.
The projected CME Lean Hog Index for 5/27/2026 is up $0.34 at $90.92 and the
actual index for 5/26/2026 is down $0.12 at $90.58. Hog prices are lower on the
Daily Direct Morning Hog Report, down $0.03 with a weighted average price of
$94.47, ranging from $91.50 to $95.00 on 1,207 head and a five-day rolling
average of $94.30. Pork cutouts total 231.27 loads with 192.25 loads of pork
cuts and 39.02 loads of trim. Pork cutout values: up $2.37, $100.72.
ShayLe Stewart can be reached shayle.stewart@dtn.com
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