DTN Midday Livestock Comments          05/26 11:49

   Livestock Futures Mixed Heading Into Tuesday Afternoon 

   The livestock futures are mixed heading into the day's noon hour as traders 
continue to look for additional fundamental support. 

ShayLe Stewart
DTN Livestock Analyst

GENERAL COMMENTS:

   The livestock complex is mixed heading into Tuesday's noon hour as traders 
begin to harness their minds following the long weekend. New showlists appear 
to be mixed, higher in Nebraska/Colorado, but lower in Kansas and Texas. July 
corn is down 5 3/4 cents per bushel and July soybean meal is down $2.80. The 
Dow Jones Industrial Average is down 105.90 points and NASDAQ is up 258.92 
points.

LIVE CATTLE:

   The live cattle complex is trading mixed into Tuesday's noon hour following 
the long Memorial Day holiday weekend. Truthfully, Tuesday's mixed behavior is 
somewhat refreshing to see as I was prepared for another day of steep downfall 
following last Friday's bearish Cattle on Feed report. But thankfully traders 
seem to believe the market has endured enough technical pressure regarding the 
report, and it's main focus again seems to be on what fundamental support is or 
is not going to develop this week. That will likely be the main driving factor 
of this week's trade. June live cattle are down $0.80 at $248.50, August live 
cattle are down $0.45 at $239.15 and October live cattle are up $0.05 at 
$230.77. New showlists appear to be mixed, higher in Nebraska/Colorado, but 
lower in Kansas and Texas.

   Last week Southern live cattle traded at mostly $260, which is steady to 
somewhat weaker than the previous week's weighted average. Northern dressed 
cattle were marked at mostly $410 to $412, which is $1.00 higher to $1.00 lower 
than the previous week's weighted average.

   Boxed beef prices are higher: choice up $1.98 ($392.25) and select up $4.22 
($389.22) with a movement of 28 loads (18.90 loads of choice, 4.75 loads of 
select, zero loads of trim and 3.92 loads of ground beef).

FEEDER CATTLE:

   Even though Friday's Cattle on Feed report was a bearish pill to swallow, 
the market is moving full steam ahead into Tuesday's noon hour as traders 
believe enough downward pressure has already been felt by the complex leading 
up to the report and now peace can be had moving forward. August feeders are up 
$1.12 at $350.97, September feeders are up $1.12 at $348.97 and October feeders 
are up $0.52 at $344.15. Traders were quick to push the contracts higher at the 
day's open and it's likely they're confident in this decision and will continue 
to support the contracts through the day's close.

LEAN HOGS:

   Meanwhile, the lean hog complex continues to look for consistent and stable 
fundamental support. Yes, midday pork cutout values are higher, but traders 
desire to see more than one day's worth of support before they'll likely 
advance the contracts. June lean hogs are up $0.30 at $96.05, July lean hogs 
are down $0.10 at $100.30 and August lean hogs are down $0.75 at $99.30. The 
projected CME Lean Hog Index for 5/22/2026 is down $0.18 at $90.70 and the 
actual index for 5/21/2026 is up $0.19 at $90.88. Hog prices are unavailable on 
the Daily Direct Morning Hog Report, but we can see only 165 head have traded 
and the market's five-day rolling average now sits at $93.46. Pork cutouts 
total 163.75 loads with 150.42 loads of pork cuts and 13.33 loads of trim. Pork 
cutout values: up $3.39, 99.65.

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




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