DTN Midday Livestock Comments          11/07 11:38

   Cattle Inch Higher, Hogs Scale Lower

   No new cash cattle trade has developed at midday, and at this point, it's 
likely that aside from a few clean-up sales that could develop, the vast 
majority of the week's trade is done.

ShayLe Stewart
DTN Livestock Analyst

GENERAL COMMENTS:

   The livestock complex is trading mixed into midday Friday, with the cattle 
contracts having found a little more support, but the lean hog contracts are 
still trading lower. No new cash cattle trade has developed, and it's likely 
the bulk of this week's trade is done. December corn is down 1/2 cent per 
bushel and December soybean meal is steady. The Dow Jones Industrial Average is 
down 260.42 points and the NASDAQ is down 362.03 points.

LIVE CATTLE:

   After another downward waning week, where the market traded lower and lacked 
enough support in either realm (technical or fundamental), the live cattle 
contracts are finally trading a bit higher as traders have seemed to deem that 
the market has traded lower enough for the week. December live cattle are up 
$1.50 at $220.30, February live cattle are up $1.10 at $217.92 and April live 
cattle are up $1.07 at $217.77. No new cash cattle trade has developed 
throughout the day, and at this point, it's looking like the bulk of the week's 
trade could essentially be done with. So far this week, Northern dressed cattle 
have traded mostly at $355 to $362, with most at $360, which is $2.00 higher 
than last week's weighted average. Southern live cattle traded at mostly $232, 
which is $4.00 lower than the previous week's weighted average. 

   Boxed beef prices are mixed: choice down $0.54 ($377.43) and select up $1.44 
($362.20) with a movement of 101 loads (75.65 loads of choice, 9.99 loads of 
select, 3.55 loads of trim and 12.11 loads of ground beef).

FEEDER CATTLE:

   Although still cautious, the feeder cattle complex is trading slightly 
higher into Friday's noon hour, seeming to follow in the same direction as the 
live cattle market. November feeders are up $1.30 at $323.35, January feeders 
are up $0.17 at $315.72 and March feeders are down $0.10 at $310.90. Sales are 
still feeling a heightened level of anxiousness in the countryside, as a lower 
trend has been noted for the week in most classes.

LEAN HOGS:

   Yes, pork cutout values may be higher this morning -- up over $2.00 higher 
-- but it's a little too late to have much effect on the market this week, as 
traders haven't seen true support and stability from consumers to feel safe in 
trading the contracts higher. December lean hogs are up $0.47 at $79.45, 
February lean hogs are down $0.15 at $79.67 and April lean hogs closed $0.17 
lower at $83.72. It's likely that this lower trend will continue through the 
day's end.

   The projected lean hog index for 11/6/2025 is down $0.87 at $89.73, and the 
actual index for 11/5/2025 is down $0.26 at $90.60. Hog prices are lower on the 
Daily Direct Morning Hog Report, down $0.19 with a weighted average price of 
$84.48, ranging from $77.00 to $85.00 on 546 head and a five-day rolling 
average of $84.65. Pork cutouts total 205.85 loads with 191.55 loads of pork 
cuts and 14.30 loads of trim. Pork cutout values: up $2.57, $99.75.

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




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