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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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