DTN Midday Livestock Comments          08/24 11:56

   Cattle Trade Lower Monday as Mexican Imports Resume 

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

ShayLe Stewart
DTN Livestock Analyst

GENERAL COMMENTS:

   With Mexican cattle imports resuming at the Douglas, Arizona, port Monday 
(Aug. 24), the cattle contracts are checked up and trading lower in hesitant 
action. New showlists for the week are lighter in Texas and Kansas, but 
slightly higher in Nebraska. December corn is up 13 1/2 cents per bushel and 
December soybean meal is up $3.70. The Dow Jones Industrial Average is up 
147.22 points and NASDAQ is down 96.45 points.

LIVE CATTLE:

   Although the live cattle complex opened Monday initially higher, the market 
has now changed direction and is trending lower as traders are currently 
keeping their distance. The contracts are falling anywhere from $2.00 to $3.00 
lower into Monday's noon hour. October live cattle are down $3.90 at $214.02, 
December live cattle are down $3.75 at $214.82 and February live cattle are 
down $3.27 at $216.05. More than anything it's likely the complex is weaker 
Monday morning as the market is soberly aware of the fact that Mexican cattle 
imports are going to resume today at the Douglas, Arizona, port of entry. It's 
also likely that again this week fed cash cattle prices will be challenged as 
packers continue to hold the lion's share of the market's leverage at this 
point. New showlists for the week are lighter in Texas and Kansas, but slightly 
higher in Nebraska.

   Last week Northern dressed cattle traded at mostly $355 to $356, which is 
$9.00 to $10.00 lower than the previous week's weighted average. Southern live 
cattle traded at $225, which is $3.00 lower than the previous week's weighted 
average; but the Southern Plains didn't move very many cattle.

   Boxed beef prices are mixed: choice down $0.84 ($384.85) and select up $3.34 
($364.66) with a movement of 41 loads (24.85 loads of choice, 6.23 loads of 
select, 2.84 loads of trim and 6.69 loads of ground beef).

FEEDER CATTLE:

   Knowing that Mexican feeder cattle are likely walking across the border 
right now as we speak has the feeder cattle contracts trading anywhere from 
$4.00 to mostly $5.00 lower into Monday's noon hour. September feeder cattle 
are down $5.30 at $323.72, October feeders are down $5.37 at $318.27 and 
November feeders are down $5.15 at $311.10. It's likely the market will keep 
with this lower trend through Monday's end given there's so much unknown about 
the border crossings right now.

LEAN HOGS:

   The lean hog complex is trading mixed into Monday's noon hour with most of 
the contracts mildly higher, but a few of the furthest deferred contracts are 
lower. It's helpful that morning pork cutout values are higher, which is 
something the market desperately needs to continue to see if prices are going 
to keep with a stronger trend. October lean hogs are up $0.32 at $81.20, 
December lean hogs are up $0.35 at $71.82 and February lean hogs are up $0.27 
at $74.70. The projected CME Lean Hog Index for 8/21/2026 is down $0.40 at 
$92.86 and the actual index for 8/20/2026 is down $0.46 at $93.26. Hog prices 
are unavailable on the Daily Direct Morning Hog Report because of 
confidentiality. However, we can see that only 155 head have traded and the 
market's five-day rolling average now sits at $93.58. Pork cutouts total 156.61 
loads with 147.43 loads of pork cuts and 9.18 loads of trim. Pork cutout 
values: up $1.93, $99.89.

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




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