DTN Midday Livestock Comments          06/29 11:19

   Lower Trends Dominate the Livestock Complex at Monday's Start

   Traders have sluggishly entered the new week as currently all three of the 
livestock markets are trading lower.

ShayLe Stewart
DTN Livestock Analyst

GENERAL COMMENTS:

   With it being a holiday-shortened week, and everyone anxiously awaiting the 
celebration of America's 250th birthday, the livestock complex is trading lower 
at the week's start, as, frankly, there may not be much trader interest in the 
complex this week. Consumer demand is strong; however, at the week's start, 
both boxed beef prices and pork cutout values are higher in today's morning 
reports. July corn is down 12 1/2 cents per bushel and July soybean meal is 
down $1.80. The Dow Jones Industrial Average is up 242.55 points and the NASDAQ 
is up 342.43 points.

LIVE CATTLE:

   The live cattle contracts are trading lower into midday Monday as the market 
simply isn't seeing the level of trader support it needs in order to trade 
higher. And while yes, midday boxed beef prices may be higher, the market could 
be short of the technical support it needs this week as traders may not 
participate as aggressively this week given that it's a big holiday week, and 
given that the contracts are up against resistance levels. June live cattle are 
down $0.67 at $256.77, August live cattle are down $2.55 at $243.27 and October 
live cattle are down $2.65 at $236.55.

   Last week, Northern dressed cattle traded at mostly $408 to $410, which is 
$1.00 to $3.00 higher than the previous week's weighted average, and Southern 
live cattle traded at mostly $258, which is $1.00 lower than the previous 
week's weighted average.

   Boxed beef prices are higher: choice up $1.53 ($392.56) and select up $4.71 
($376.29) with a movement of 32 loads (18.48 loads of choice, 5.41 loads of 
select, 3.04 loads of trim and 4.79 loads of ground beef).

FEEDER CATTLE:

   With much ambition or excitement being seen in the live cattle complex, the 
feeder cattle contracts are consequently trading lower at the week's start. 
August feeders are down $2.67 at $367.17, September feeders are down $2.45 at 
$365.22 and October feeders are down $2.12 at $362.47. And do note that with 
the markets being closed on Friday for the Fourth of July holiday, trader 
interest and participation in the complex this week could be minimal.

LEAN HOGS:

   The lean hog complex is also trading lower into Monday's noon hour as 
traders don't want to get ahead of themselves and be too bullish if fundamental 
support isn't going to be sizeable. But it is worth noting that the morning's 
carcass price is higher, but the big push is stemming from the huge rally in 
the belly, which is up $12.16 this morning. July lean hogs are up $0.17 at 
$93.10, August lean hogs are up $0.05 at $96.62 and October lean hogs are down 
$0.97 at $80.97. The projected lean hog index for 6/26/2026 is down $0.14 at 
$91.41 and the actual index for 6/25/2026 is down $0.23 at $91.55. Hog prices 
are unavailable on the Daily Direct Morning Hog Report because of 
confidentiality. However, we can see that only 25 head have traded and that the 
market's five-day rolling average now sits at $97.47. Pork cutouts total 143.30 
loads with 114.39 loads of pork cuts and 28.91 loads of trim. Pork cutout 
values: up $3.26, $98.63.

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




(c) Copyright 2026 DTN, LLC. All rights reserved.