DTN Midday Livestock Comments          09/04 11:33

   Weaker Tones Find the Livestock Complex on Friday

   Bids are on the table in Kansas and Nebraska, but no new trade has 
developed, and the bulk of this week's trade is likely done. 

ShayLe Stewart
DTN Livestock Analyst

GENERAL COMMENTS:

   The livestock complex is trading fully lower into midday Friday as the 
market longs for more consistent fundamental support. Bids are on the table in 
Nebraska and Kansas, but no new cash cattle trade has developed. December corn 
is down 4 1/2 cents per bushel and December soybean meal is down $1.50. The Dow 
Jones Industrial Average is down 278.93 points and the NASDAQ is down 97.86 
points.

LIVE CATTLE:

   All in all, it's been a quiet, lower-trending day for the live cattle 
complex as there's yet to be any more cash cattle trade develop and the futures 
contracts are back to trading lower. October live cattle are down $1.25 at 
$213.05, December live cattle are down $1.12 at $215.00 and February live 
cattle are down $1.12 at $216.60. The cash cattle market remains rather 
uneventful thus far through Friday's trade, as the only developments today are 
some bids in Kansas at $220 and in Nebraska at $218. Otherwise, no new cash 
cattle trade has developed. So far this week Southern live cattle have traded 
at mostly $219 live ($3.00 lower than last week's weighted average and Northern 
dressed cattle have traded at mostly $344 to $345 (steady to $1.00 lower than 
last week's weighted average).

   Boxed beef prices are mixed: choice down $1.87 ($375.03) and select up $3.51 
($354.23) with a movement of 69 loads (50.53 loads of choice, 6.29 loads of 
select, 8.35 loads of trim and 3.34 loads of ground beef).

FEEDER CATTLE:

   And like normal, if the live cattle complex is trading lower, in this 
current market environment, you can almost bet on the fact that the feeder 
cattle contracts are trading lower, and today they are. September feeders are 
down $2.52 at $323.32, October feeders are down $1.95 at $319.15 and November 
feeders are down $1.65 at $313.65. Although the board was supportive on 
Thursday, feeder cattle prices held mostly steady with the week's trend in the 
countryside.

LEAN HOGS :

   The lean hog complex is back to trading lower, as the market is waving its 
white flag, seeming to say, "there's not enough stable support in the complex 
right now to justify taking the risk and challenging the market's resistance 
threshold." With that, the lean hog contracts are trading fully lower into 
Friday's noon hour. October lean hogs are down $1.07 at $82.37, December lean 
hogs are down $1.47 at $72.45 and February lean hogs are down $1.45 at $75.15. 
The projected lean hog index for 9/3/2026 is down $0.54 at $90.54, and the 
actual index for 9/2/2026 is up $0.23 at $91.08. Hog prices are unavailable on 
the Daily Direct Morning Hog Report because of confidentiality. However, we can 
see that there have been only 593 head traded and that the market's five-day 
rolling average now sits at $89.38. Pork cutouts total 148.31 loads, with 
140.11 loads of pork cuts and 8.21 loads of trim. Pork cutout values: up $0.14, 
$91.26.

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




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