DTN Midday Livestock Comments          12/26 11:45

   Mixed Tones Dominate the Cattle Complex After Christmas

   No new cash cattle trade has developed and currently no bids are on the 
table.

ShayLe Stewart
DTN Livestock Analyst

GENERAL COMMENTS:

   The livestock complex is trading mixed into Friday's noon hour as the market 
tries to regain focus following the Christmas holiday. Still no new cash cattle 
trade has developed and no bids are currently on the table. March corn is down 
1 1/2 cents per bushel and March soybean meal is up $0.30. The Dow Jones 
Industrial Average is down 55.22 points and NASDAQ is down 1.33 points.

LIVE CATTLE:

   The live cattle complex is trading higher into Friday's noon hour after as 
the market is seeing a little bit of a post-holiday rally. More than anything 
it seems as though the contracts are trading a tic higher after a weaker close 
on Wednesday as traders elected to let the contracts fall away from the 
market's resistance at its 100-day moving average. February live cattle are up 
$1.05 at $229.60, April live cattle are up $1.07 at $229.80 and June live 
cattle are up $1.00 at $224.20. No new cash cattle trade has developed yet 
Friday, but some light, clean-up trade could still develop ahead of the day's 
end. This week a light trade has been reported in the North with dressed deals 
done at mostly $356, $1 lower than last week's weighted average, basis 
Nebraska. Southern live deals have been marked at mostly $229, $2 higher than 
last week's weighted average basis Kansas.

   Boxed beef prices are lower: choice down $3.33 ($351.29) and select down 
$0.50 ($345.25) with a movement of 34 loads (17.86 loads of choice, 3.08 loads 
of select, 3.83 loads of trim and 9.48 loads of ground beef).

FEEDER CATTLE:

   The feeder cattle complex is again following the direction of the live 
cattle market as it too is higher. But what's different about the feeder cattle 
complex as opposed to the live cattle market is that for the last four trading 
days, the feeder cattle complex has been able to maintain a position above the 
market's 100-day moving average in its spot March contract. January feeders are 
up $1.57 at $346.30, March feeders are up $1.92 at $340.72 and April feeders 
are up $1.87 at $339.37.

LEAN HOGS:

   Although pork cutout values are up noticeably, the lean hog contracts are 
still trading lower. February lean hogs are down $0.67 at $84.37, April lean 
hogs are down $0.42 at $89.37 and June lean hogs are down $0.27 at $102.25. 
It's unlikely we will see much more cash hog trade develop ahead of Friday's 
close, as the shortened holiday week has affected kill schedules and packers' 
need to buy in the cash market.

   The projected CME Lean Hog Index for 12/24/2025 is up $0.13 at $83.84, and 
the actual index for 12/23/2025 is down $0.01 at $83.71. Hog prices are 
unavailable Friday morning because no hogs have traded. Pork cutouts total 
74.95 loads with 66.83 loads of pork cuts and 8.13 loads of trim. Pork cutout 
values: up $6.10, $99.76.

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




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