DTN Midday Livestock Comments          04/08 11:41

   Cattle Regain Trader Support and Scale Higher 

   With traders hopeful the market will see greater fundamental support later 
in the week, the cattle contracts are back to trading slightly higher. 

Rick Kment
DTN Analyst

GENERAL COMMENTS:

   The livestock complex is trading mixed into Wednesday's noon hour as the 
cattle contracts are mildly higher while the hog contracts drift lower. Asking 
prices are noted in Texas at $250-plus. May corn is down 4 1/4 cents per bushel 
and May soybean meal is up $1.10. The Dow Jones Industrial Average is up 
1,211.38 points and NASDAQ is up 646.74 points.

LIVE CATTLE:

   Following Tuesday's slightly lower close, the live cattle complex is back to 
trading mildly higher. The market isn't currently pressing beyond the 
resistance at $247.50 in the spot June contract, but traders are seeming to 
signal and show their support remains ample -- all they need is for fundamental 
support to remain ample as well. April live cattle are up $1.35 at $249.55, 
June live cattle are up $0.45 at $246.25 and August live cattle are up $0.27 at 
$242.65. Asking prices of $250-plus have surfaced in Texas, but otherwise the 
fed cash cattle market remains idle with no developments having surfaced yet.

   Boxed beef prices are lower: choice down $1.21 ($381.53) and select down 
$0.07 ($386.26) with a movement of 67 loads (44.26 loads of choice, 3.84 loads 
of select, 10.70 loads of trim and 8.04 loads of ground beef).

FEEDER CATTLE:

   Once again keeping in alignment with the live cattle complex, the feeder 
cattle contracts are trading moderately higher into Wednesday's noon hour. 
Between the demand recently seen in the countryside, mixed with the technical 
support of the upward trend in the live cattle complex -- currently traders 
have all the support they need to help drive the feeder cattle contracts 
higher. April feeders are up $1.57 at $370.47, May feeders are up $1.50 at 
$368.15 and August feeders are up $1.85 at $367.90.

LEAN HOGS:

   Following Monday's aggressive rally, the lean hog complex has spent its time 
moving lower as traders aren't confident the market possess enough support to 
justify a higher move. Once again Wednesday, pork cutout values are lower which 
doesn't help add fundamental support. April lean hogs are down $0.47 at $90.30, 
June lean hogs are down $1.90 at $105.15 and July lean hogs are down $1.90 at 
$108.87. The projected CME Lean Hog Index for 4/7/2026 is up $0.24 at $90.30 
and the actual index for 4/6/2026 is up $0.13 at $90.06. Hog prices are 
unavailable on the Daily Direct Morning Hog Report because of confidentiality. 
However, we can see that only 880 head have traded Wednesday morning and the 
market's five-day rolling average now sits at $90.34. Pork cutouts total 168.29 
loads with 143.39 loads of pork cuts and 24.90 loads of trim. Pork cutout 
values: down $0.72, $97.10.

    

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




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