DTN Midday Livestock Comments          05/06 11:47

   Some Light Cash Cattle Trade Develops in the South

   Although it's still early in the week, some light cash cattle trade has 
begun to develop in the South at $218 to $220.

ShayLe Stewart
DTN Livestock Analyst

GENERAL COMMENTS:

   It's a mixed day for the livestock complex as the cattle complex is again 
receiving all the support it could ever wish for, but the lean hog complex is 
failing to receive that same support. Some light cash cattle trade has already 
begun to develop at $218 to $220 in the South. May corn is down 1 cent per 
bushel and May soybean meal is down $2.70. The Dow Jones Industrial Average is 
down 185.68 points and NASDAQ is down 90.66 points.

LIVE CATTLE:

   It may only be Tuesday, but trade is rocking and rolling already this week 
as traders continue to advance the cattle contracts higher as the market's 
fundamentals are shining through early this week. Along with the note of higher 
midday boxed beef prices, some light cash cattle trade has already begun to 
develop in the South where live cattle are trading for mostly $218, but some up 
to $220 as both regional and major packers are hitting up the market early this 
week. It's too early to say that any sort of a trend has been established for 
the week just yet, but those early prices would be considered steady to $2 
higher than last week's weighted average. Asking prices left for cattle to 
trade in the South are firm at $221 and are still not established in the North. 
June live cattle are up $0.37 at $214.02, August live cattle are up $0.65 at 
$209.77 and October live cattle are up $0.70 at $207.10.

   Boxed beef prices are higher: choice up $0.60 ($344.17) and select up $5.51 
($333.58) with a movement of 76 loads (57.80 loads of choice, 7.45 loads of 
select, 4.23 loads of trim and 6.85 loads of ground beef).

FEEDER CATTLE:

   The feeder cattle complex is continuing to rally as the market possesses all 
the support it needs to successfully trade higher at this point. Without a 
doubt there is risk in the market's current all-time high position. However, 
with the live cattle contracts trading higher, boxed beef prices showing good 
demand, and cattle buyer interest still red-hot in the countryside -- traders 
have all the support they could ever wish for in the marketplace right now. May 
feeders are up $0.15 at $296.22, August feeders are up $0.87 at $299.77 and 
September feeders are up $0.67 at $298.22.

LEAN HOGS:

   The lean hog complex isn't having as splendid of a day as the contracts are 
trading lower amid some technical uncertainty. While midday pork cutout values 
may be slightly higher, traders simply aren't seeing the support they'd wish to 
have to take on the nearby top that was established just a week ago. June lean 
hogs are down $1.62 at $97.37, July lean hogs are down $1.37 at $99.02 and 
August lean hogs are down $1.17 at $97.75.

   The projected lean hog index for 5/5/2025 is up $0.27 at $90.13 and the 
actual index for 5/2/2025 is up $0.18 at $89.87. Hog prices are unavailable on 
the Daily Direct Morning Hog Report because of confidentiality. However, we can 
see that only 165 head have traded this morning, and that the week's five-day 
rolling average now sits at $92.61. Pork cutouts total 178.87 loads with 162.14 
loads of pork cuts and 16.73 loads of trim. Pork cutout values: up $0.73, 
$97.39.

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




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