DTN Midday Livestock Comments          06/08 11:48

   Weaker Tones Capture Livestock Complex at Monday's Noon Hour 

   Without strong fundamental support at the week's start, the livestock 
contracts are trading lower. 

ShayLe Stewart
DTN Livestock Analyst

GENERAL COMMENTS:

   Weaker tones are seen across the entire livestock complex as Monday's noon 
hour nears. More than anything, traders need fundamental support to help guide 
the contracts higher. July corn is up 3/4 cent per bushel and July soybean meal 
is down $4.70. The Dow Jones Industrial Average is up 21.92 points and NASDAQ 
is up 333.72 points.

LIVE CATTLE:

   Thus far it's been a back-and-forth day for the live cattle complex as the 
market initially started Monday stronger, trading higher as yet two new cases 
of New World screwworm were detected over the weekend, bringing the nation's 
total number of confirmed cases to four. But as the market nears the noon hour, 
the complex is trading lower, seemingly less confident in just about everything 
at this point. June live cattle are down $3.70 at $246.37, August live cattle 
are down $4.52 at $237.10 and October live cattle are down $3.80 at $230.32. It 
does seem as though the market's 40-day moving average is going to be a tough 
resistance point to break through unless strong fundamental support develops.

   Last week Northern dressed cattle traded at mostly $405, which is fully 
steady with the previous week's weighted average. Southern live cattle traded 
at mostly $256 to $258, which is $1.00 lower to $1.00 higher than the previous 
week's weighted average.

   Boxed beef prices are mixed: choice down $0.67 ($392.03) and select up $0.99 
($383.68) with a movement of 58 loads (40.47 loads of choice, 11.16 loads of 
select, zero loads of trim and 6.26 loads of ground beef).

FEEDER CATTLE:

   Keeping in alignment with the live cattle complex, the feeder cattle 
contracts are also trading $3.00 to $4.00 lower into Monday's noon hour. But 
looking at the feeder cattle contracts, their biggest technical hurdle is going 
to be the market's 100-day moving average as the spot August contract hasn't 
traded above that threshold since May 22. August feeder cattle are down $4.37 
at $349.52, September feeders are down $4.27 at $346.55 and October feeders are 
down $4.15 at $343.07.

LEAN HOGS:

   With a weaker tone hovering over the entire livestock complex -- coupled 
with the fact that pork cutout values are lower at the day's start -- the lean 
hog contracts are once again trading lower. June lean hogs are down $0.20 at 
$94.10, July lean hogs are down $0.90 at $97.90 and August lean hogs are down 
$0.32 at $96.90. Until consumer support strengthens, it's likely the contracts 
will remain skeptical of being overly bullish in this choppy market.

   The projected CME Lean Hog Index for 6/5/2026 is up $0.03 at $92.63, and the 
actual index for 6/4/2026 is up $0.09 at $92.60. Hog prices on the Daily Direct 
Morning Hog Report average $96.01 up $1.83, ranging from $90.00 to $98.50 on 
1,068 head and a five-day rolling average of $95.00. Pork cutouts total 154.87 
loads with 134.12 loads of pork cuts and 20.75 loads of trim. Pork cutout 
values: down $0.42, $100.76.

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




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