DTN Midday Livestock Comments          11/06 11:36

   Live Cattle Inch Higher, Feeder Cattle Remain Cautious

   No new cash cattle trade has developed today, but packers will need to 
secure some more supply before the week's over.

ShayLe Stewart
DTN Livestock Analyst

GENERAL COMMENTS:

   Aside from the live cattle complex, both the feeder cattle and lean hog 
markets are trading lower. No new cash cattle trade has developed today, but 
packers will need to buy up some more supply before the week's over. December 
corn is down 5 3/4 cents per bushel and December soybean meal is down $12.30. 
The Dow Jones Industrial Average is down 485.54 points and the NASDAQ is down 
455.58 points.

LIVE CATTLE:

   The live cattle complex is trading mixed into Thursday's noon hour, as 
traders would like to trade the contracts higher and are successfully doing so 
in the deferred months, but the nearby contracts remain under light pressure as 
there's still some uncertainty milling throughout the marketplace. December 
live cattle are down $0.80 at $219.75, February live cattle are up $0.12 at 
$218.12 and April live cattle are up $0.52 at $218.10. No new cash cattle trade 
has developed today, but packers will need to secure more inventory before the 
week's over. So far this week Northern dressed cattle have traded at mostly 
$360, which is $2.00 higher than the previous week's weighted average, and 
Southern live cattle have traded at mostly $232, which is $4.00 lower than last 
week's weighted average.

   Boxed beef prices are mixed: choice down $0.29 ($377.97) and select up $1.76 
($362.01) with a movement of 60 loads (38.63 loads of choice, 6.91 loads of 
select, 6.48 loads of trim and 7.83 loads of ground beef).

FEEDER CATTLE:

   The live cattle complex may be able to shake the doggishness of the 
marketplace, but the feeder cattle complex isn't as confident as all of its 
contracts are trading lower into Thursday's noon hour. November feeders are 
down $4.45 at $321.27, January feeders are down $4.97 at $315.00 and March 
feeders are down $5.55 at $310.12. Unfortunately, feeder cattle sales could 
likely soften a tick in the countryside as buyers react to the board.

LEAN HOGS:

   Again today, the lean hog complex is adding another downward leg to its 
chart as the market lacks support. Yes, cash demand was strong this week, but 
without consumer demand improving, traders aren't willing to show the complex 
much interest or support. December lean hogs are down $0.85 at $79.75, February 
lean hogs are down $0.62 at $80.35 and April lean hogs are down $0.62 at $84.25.

   The projected lean hog index for 11/5/2025 is down $0.26 at $90.60 and the 
actual index for 11/4/2025 is down $0.04 at $90.86. Hog prices are lower on the 
Daily Direct Morning Hog Report, down $1.72 with a weighted average price of 
$84.67, ranging from $81.00 to $86.00 on 832 head and a five-day rolling 
average of $84.69. Pork cutouts total 141.76 loads with 128.32 loads of pork 
cuts and 13.45 loads of trim. Pork cutout values: down $0.20, $97.34.

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




(c) Copyright 2025 DTN, LLC. All rights reserved.