DTN Midday Livestock Comments          06/12 11:26

   Cattle Dip Lower Friday, While Hogs Run Higher 

   With no substantial cash cattle trade having developed yet, the market will 
need to get busy before the day expires. 

ShayLe Stewart
DTN Livestock Analyst

GENERAL COMMENTS:

   Mixed tones continue to follow the livestock complex as now the cattle 
contracts are trading lower but the lean hog contracts are scaling higher. Bids 
are on the table for the cash market, but no cattle have traded just yet. July 
corn is up 3 1/4 cents per bushel and July soybean meal is up $0.40. The Dow 
Jones Industrial Average is up 368.96 points and NASDAQ is up 62.96 points.

LIVE CATTLE:

   Once again, the market's resistance at its 40-day moving average becomes too 
much for traders to bear, which is mainly why the complex is trading lower into 
Friday's noon hour. But it also isn't helpful that the market has yet to see 
any cash cattle trade develop. At this point, even if the fed cash cattle 
market is able to trade cattle higher, it won't likely have much of a positive 
effect on the complex ahead of the close. June live cattle are down $2.25 at 
$249.22, August live cattle are down $2.75 at $239.92 and October live cattle 
are down $2.75 at $232.65. A few bids are currently being offered in the cash 
cattle market (in both regions) but at this point feedlot managers are passing 
on them. Live asking prices are noted at $260 in Nebraska.

   Boxed beef prices are mixed: choice down $0.10 ($393.11) and select up $0.73 
($373.98) with a movement of 58 loads (41.80 loads of choice, 5.41 loads of 
select, 4.38 loads of trim and 5.92 loads of ground beef).

FEEDER CATTLE:

   Like the live cattle complex, the feeder cattle contracts are trading lower 
into Friday's noon hour as the market isn't seeing the technical or fundamental 
support it needs right now to push the contracts any higher. August feeder 
cattle are down $3.92 at $355.72, September feeders are down $3.62 at $352.90 
and October feeders are down $3.52 at $349.27. Aside from the lack of technical 
support from the live cattle contracts, the feeder cattle contracts are 
currently under pressure from the market's resistance at its 40-day moving 
average.

LEAN HOGS:

   The lean hog complex has thankfully found some technical support which is 
helping it trade higher into Friday's noon hour. Luckily the market has been 
able to chop merely sideways in recent trading days; which leads one to believe 
some sort of a technical bottom is forming for this current move. Plus, it's 
also helpful that pork cutouts are more than $3.00 higher on Friday's midday 
report. July lean hogs are up $0.67 at $97.30, August lean hogs are up $0.25 at 
$96.15 and October lean hogs are up $0.22 at $81.30. The projected CME Lean Hog 
Index for 6/11/2026 is down $0.15 at $92.75 and the actual index for 6/10/2026 
is down $0.02 at $92.90. Hog prices are lower on the Daily Direct Morning Hog 
Report, down $3.34 with a weighted average price of $94.26, ranging from $91.00 
to $97.00 on 933 head and a five-day rolling average of $96.73. Pork cutouts 
total 161.29 loads with 152.99 loads of pork cuts and 8.29 loads of trim. Pork 
cutout values: up $3.31, $97.78.

   **

   NOTE: The cattle complex has seen record-high prices in the last year. But 
it's also been saddled with record-high risk and volatility, among many other 
challenges. To better understand these cattle market challenges, join DTN 
Livestock Analyst ShayLe Stewart for the inaugural Beef Industry Exchange 
webinar hosted by Senior Livestock Editor Jennifer Carrico at 9 a.m. CDT on 
June 24.  

   In addition to ShayLe's cattle market update, DTN Ag Meteorologist John 
Baranick shares how variability and a building Super El Nino might save or doom 
U.S. pastures. Due to widespread drought conditions across the U.S., cow-calf 
producers may be considering a reduction of the herd. To prepare for this, 
University of Nebraska Lincoln Beef Systems Extension Educator Aaron Berger 
shares different strategies to set up cow herd rebuilding when it rains again. 
Register for the free webinar today: 
https://nam11.safelinks.protection.outlook.com/?url=https%3A%2F%2Fdtn.link%2FBee
fIndustryExchange&data=05%7C02%7CShayLe.Stewart%40dtn.com%7C807fda3c4c664a981f56
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   ShayLe Stewart can be reached shayle.stewart@dtn.com




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