DTN Midday Livestock Comments          07/25 11:47

   Traders Remain Hopeful Cash Cattle Will Trade Higher

   Brace yourself for this afternoon's trade in the cattle complex as the 
market will need to see more cash cattle trade and will be shown the monthly 
Cattle on Feed report and the Bi-Annual Cattle Inventory Report as well.

ShayLe Stewart
DTN Livestock Analyst

GENERAL COMMENTS:

   The cattle complex is continuing to trade higher into midday Friday as the 
market is anxious to see what feedlot managers accomplish in this week's fed 
cash cattle trade and to see what the Cattle on Feed and Cattle Inventory 
Report yield later this afternoon. No cash cattle trade has developed yet today 
but bids are currently on the table in both regions. September corn is down 3 
cents per bushel and August soybean meal is down $1.60. The Dow Jones 
Industrial Average is up 77.91 points and the NASDAQ is up 76.67 points.

LIVE CATTLE:

   The live cattle complex is trading slightly higher into Friday's noon hour 
as traders remain optimistic about what this week's fed cash cattle market is 
going to do. August live cattle are up $0.42 at $226.22, October live cattle 
are up $0.82 at $222.97 and December live cattle are up $0.57 at $223.22. Also 
lending positive support to the live cattle complex is the fact that the 
afternoon's Cattle on Feed report is expected to showcase fewer placements and 
lighter on-feed totals, and don't forget that the semi annual Cattle Inventory 
report is also going to be released later this afternoon as well. A few bids 
are currently on the table at $230 in Kansas, $238 live in the North and $376 
dressed. Packer demand should improve as the day trades on, and packers are 
undoubtedly going to need to get more aggressive before the week's end, as they 
can't afford to go short-bought into next week's trade.

   Boxed beef prices are lower: choice down $0.63 ($367.46) and select down 
$1.39 ($345.61) with a movement of 70 loads (44.93 loads of choice, 13.36 loads 
of select, 8.65 loads of trim and 3.56 loads of ground beef).

FEEDER CATTLE:

   The feeder cattle complex is also using the day to trade higher as its 
contracts are conformably trading well over $1.00 stronger in most of the 
nearby months. With the continued support of red-hot feeder cattle demand in 
the countryside, traders have all the support they could ever wish for. August 
feeders are up $1.37 at $330.27, September feeders are up $1.45 at $331.10 and 
October feeders are up $1.50 at $329.85.

LEAN HOGS:

   The lean hog complex is again trading lower as the market seems skeptical to 
advance much higher as traders are facing some resistance pressure. Pork demand 
and cash prices have been supportive this past week, but with traders unwilling 
to challenge the futures complex's resistance, lower is the only direction for 
the market to trade. August lean hogs are down $0.20 at $108.00, October lean 
hogs are down $1.07 at $90.02 and December lean hogs are down $0.82 at $82.10.

   The projected lean hog index for 7/24/2025 is up $0.33 at $110.28, and the 
actual index for 7/23/2025 is up $0.72 at $109.95. Hog prices are lower on the 
Daily Direct Morning Hog Report, down $4.55 with a weighted average price of 
$109.26, ranging from $98.00 to $115.00 on 1,329 head and a five-day rolling 
average of $113.53. Pork cutouts total 211.51 loads with 195.77 loads of pork 
cuts and 15.73 loads of trim. Pork cutout values: up $2.97, $120.51.

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




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