DTN Midday Livestock Comments          10/30 11:29

   Cattle Inch Higher While Hogs Dip Lower

   Packers have bids on the table, but no new trade has developed following 
Monday's light business. 

ShayLe Stewart
DTN Livestock Analyst

GENERAL COMMENTS:

   It's been a quiet morning for the livestock complex as the cattle contracts 
are trading slightly higher, but the lean hog contracts are still trading lower 
as demand remains weak. There are some bids on the table for the fed cash 
cattle market, but no new trade has developed. December corn is down 2 cents 
per bushel and December soybean meal is up $6.80. The Dow Jones Industrial 
Average is up 240.64 points and the NASDAQ is down 183.70 points.

LIVE CATTLE:

   The live cattle complex is continuing to trade higher as traders simply 
remain pleased to have a quiet, uneventful day in the marketplace. After 
plummeting lower the last week and a half, it's refreshing for the market to 
have a slightly bullish, no-headline, non-earth-shattering type of day -- just 
quiet and subtle trading. December live cattle are up $0.85 at $231.75, 
February live cattle are up $1.15 at $230.60 and April live cattle are up $1.02 
at $229.80. Bids are on the table in both Nebraska and Kansas, but following 
the trade earlier this week, no more business has developed. Asking prices are 
noted in the South at $238 to $240. Earlier this week Northern dressed cattle 
sold for $360, which is $9.00 lower than the previous week's weighted average.

   Boxed beef prices are lower: choice down $3.29 ($378.09) and select down 
$2.20 ($359.59) with a movement of 70 loads (43.15 loads of choice, 15.95 loads 
of select, 4.68 loads of trim and 6.11 loads of ground beef).

FEEDER CATTLE:

   The feeder cattle complex is continuing to trade higher as the market 
remains relieved to have heard on Wednesday that the U.S/Mexico border isn't 
likely going to reopen any time soon to Mexican cattle imports. This was the 
silver lining after a week and a half of downward trading that the market 
desperately needed to hear to help push prices back higher. November feeders 
are up $2.85 at $344.92, January feeders are up $3.20 at $337.25 and March 
feeders are up $3.65 at $332.20. Thankfully, the market is now trading above 
its 100-day moving average in the spot November contract, which is a slow start 
to some hopeful recovery.

LEAN HOGS:

   The lean hog complex is once again trading lower as no significant 
fundamental improvements have surfaced. December lean hogs are up $0.25 at 
$81.02, February lean hogs are steady at $82.32 and April lean hogs are down 
$0.10 at $86.45. Until consumer support rounds the corner and shows more 
demand, the market will likely continue to trade in this sideways doggish 
manner.

   The projected lean hog index for 10/29/2025 is down $0.33 at $91.53 and the 
actual index for 10/28/2025 is down $0.17 at $91.86. Hog prices are unavailable 
on the Daily Direct Morning Hog Report because zero hogs have been traded this 
morning. The report does continue to note that the market's five-day rolling 
average remains at $87.99. Pork cutouts total 163.68 loads with 135.54 loads of 
pork cuts and 28.15 loads of trim. Pork cutout values: up $0.07, $100.31.

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




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