DTN Midday Livestock Comments          12/17 11:42

   Traders Turn the Livestock Contracts Lower

   No cash cattle trade has developed yet this week and currently no bids have 
surfaced.

ShayLe Stewart
DTN Livestock Analyst

GENERAL COMMENTS:

   The livestock complex is trading mostly lower into Wednesday's noon hour as 
traders continue to look for continued fundamental demand but aren't finding 
what they need at the time. Still no cash cattle trade has developed. March 
corn is up 3 1/4 cents per bushel and January soybean meal is down $3.80. The 
Dow Jones Industrial Average is down 50.13 points and NASDAQ is down 230.79 
points.

LIVE CATTLE:

   After rallying throughout Tuesday's trade, the market has again settled to 
trade lower as the resistance at the market's 100-day moving average simply 
remains too stiff of a barrier to challenge at this point. Are you seeing the 
trend in the market right now? One day the market rallies and trades higher, 
but then on the next day, it steps lower as traders don't believe that either 
they possess enough support or that it's the right time to challenge the 
market's resistance. Either way, the complex is trading merely steady, holding 
a position just below the 100-day moving average. February live cattle are down 
$0.22 at $230.47, April live cattle are down $0.27 at $230.00 and June live 
cattle are down $0.12 at $223.57. No cash cattle trade has developed yet.

   Boxed beef prices are lower: choice down $1.96 ($356.92) and select down 
$0.26 ($348.84) with a movement of 91 loads (72.72 loads of choice, 7.09 loads 
of select, zero loads of trim and 11.61 loads of ground beef).

FEEDER CATTLE:

   After closing above the market's resistance at its 100-day moving average, 
the feeder cattle complex is trading a tick lower into Wednesday's noon hour. 
The market still remains above that threshold, which is significant. January 
feeders are down $0.80 at $342.52, March feeders are down $0.20 at $337.40 and 
April feeders are down $0.12 at $336.17. With the live cattle contracts 
currently trading lower, it wouldn't be surprising to see the feeder cattle 
contracts dip back below the market's resistance at its 100-day moving average 
before the day's over.

LEAN HOGS:

   The lean hog complex is back to trading lower as the market remains nervous 
to trade any higher following the substantial gains made last week. February 
lean hogs are down $1.80 at $82.97, April lean hogs are down $1.67 at $88.05 
and June lean hogs are down $1.10 at $100.67. Given that the market is just 
days away from Christmas, it's likely that a slower, lower trend could develop 
in the lean hog complex.

   The projected lean hog index for 12/16/2025 is up $0.57 at $83.87, and the 
actual index for 12/15/2025 is up $0.31 at $83.30. Hog prices closed higher on 
the Daily Direct afternoon Hog Report, up $0.26 with a weighted average price 
of $70.17, ranging from $65.00 to $71.00 on 3,622 head and a five-day rolling 
average of $71.10. Pork cutouts totaled 150.06 loads with 131.92 loads of pork 
cuts and 18.14 loads of trim. Pork cutout values: down $0.94, $97.62.

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




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