DTN Midday Livestock Comments          10/02 11:38

   Cattle Dip Lower While Hogs Rally into Friday's Noon Hour 

   Some light trade has been noted this morning in Texas at $226, and bids are 
on the table currently in Kansas at $226. But even with the moderate support of 
the fed cash cattle market trading higher in the South -- the cattle contracts 
are trading lower into Friday's noon hour. December corn is down 5 1/2 cents 
per bushel and December soybean meal is down $6.30. The Dow Jones Industrial 
Average is up 177.50 points and the NASDAQ is up 326.95 points.

ShayLe Stewart
DTN Livestock Analyst

GENERAL COMMENTS:

   Some light trade has been noted this morning in Texas at $226, and bids are 
on the table currently in Kansas at $226. But even with the moderate support of 
the fed cash cattle market trading higher in the South -- the cattle contracts 
are trading lower into Friday's noon hour. December corn is down 5 1/2 cents 
per bushel and December soybean meal is down $6.30. The Dow Jones Industrial 
Average is up 177.50 points and the NASDAQ is up 326.95 points.

LIVE CATTLE:

   Heading into Friday's noon hour the live cattle complex is trading mostly 
lower, as traders seem unwilling to advance the contracts any more ahead of the 
weekend even though fed cash cattle prices in the South are trading higher. 
October live cattle are down $1.05 at $218.25, December live cattle are down 
$1.50 at $221.67 and February live cattle are down $2.00 at $223.42. There's 
been some trade noted this morning in Texas at $226, which is $4.00 higher than 
last week's weighted average. Bids of $226 are currently on the table in 
Kansas, and bids of $221 live and $345 are on the table in Nebraska. More trade 
will likely develop ahead of the day's close, but it's looking like the week's 
trend may be set at this point -- steady in the North and $4.00 higher in the 
South. 

   Boxed beef prices are mixed: choice down $2.43 ($374.36) and select up $0.47 
($353.36) with a movement of 79 loads (60.70 loads of choice, 2.82 loads of 
select, 6.82 loads of trim and 8.42 loads of ground beef). 

FEEDER CATTLE:

   And the combination of seeing the live cattle complex trade lower and 
growing nervous about being above the market's 100-day moving average, has also 
sent the feeder cattle contracts trading lower into Friday's noon hour. October 
feeders are down $4.10 at $334.77, November feeders are down $4.85 at $331.50 
and January feeders are down $4.82 at $324.87. Unless the live cattle complex 
makes a surprising turn around ahead of the day's close, it's most likely that 
the complex will end the day moderately lower.

LEAN HOGS:

   The lean hog complex is trading higher into Friday's noon hour as traders 
have noted the slight uptick in consumer demand, and are willing to extend some 
light support to the market ahead of the week's end. October lean hogs are up 
$0.45 at $77.95, December lean hogs are up $0.92 at $69.85 and February lean 
hogs are up $1.15 at $70.90. The projected lean hog index for 10/1/2026 is down 
$0.51 at $80.20 and the actual index for 9/30/2026 is down $0.24 at $80.71. Hog 
prices average $77.25 on the Daily Direct Morning Hog Report, ranging from 
$69.00 to $81.00 on 719 head and a five-day rolling average of $77.85. Pork 
cutouts total 152.28 loads with 136.22 loads of pork cuts and 16.06 loads of 
trim. Pork cutout values: up $0.81, $86.10.

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




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