DTN Midday Livestock Comments          03/17 11:41

   Traders Push the Livestock Contracts Higher Monday Morning

   Traders are fully supportive of the livestock markets this morning as all 
three are trading higher into the noon hour.

ShayLe Stewart
DTN Livestock Analyst

GENERAL COMMENTS:

   The livestock complex is off to a strong start for the week as all three 
markets are trading fully higher into Monday's noon hour. Following last week's 
exciting cash cattle trade, it will be especially interesting to see how cash 
prices fair later this week following last week's $5.00 to $9.00 jump. May corn 
is steady and May soybean meal is steady. The Dow Jones Industrial Average is 
up 190.78 points.

LIVE CATTLE:

   The live cattle complex is yet again inching higher and is being fueled by 
last week's strong market performance. Between stronger boxed beef prices, 
higher cash cattle sales and full buy in from traders -- the market had all the 
support it could ever hope for. But the market won't be without challenges this 
week as the spot June contract is nearing the market's resistance at $201. 
Later this week, the monthly Cattle on Feed report is set to be released, which 
is also a guessing game as to how the numbers will differ from pre-report 
estimates. April live cattle are up $0.55 at $203.72, June live cattle are up 
$0.32 at $199.67 and August live cattle are up $0.87 at $197.57.

   Last week Southern live cattle traded at $202 to $203, which is $5.00 to 
$6.00 higher than the previous week. Northern dressed cattle sales were marked 
at mostly $325, which is $9.00 higher than the previous week's weighted average.

   Boxed beef prices are higher: choice up $6.19 ($324.46) and select up $1.75 
($308.07) with a movement of 37 loads (19.18 loads of choice ,7.52 loads of 
select, 5.81 loads of trim and 4.59 loads of ground beef).

FEEDER CATTLE:

   The feeder cattle complex is again aggressively rallying into the day's noon 
hour as the market's momentum is keeping the bullish move fueled into this new 
week. March feeders are up $1.15 at $283.17, April feeders are up $1.55 at 
$282.75 and May feeders are up $1.35 at $284.00. As long as the live cattle 
complex continues to lend ample support, it's likely that the feeder cattle 
market will keep inching higher and higher as there's more than enough support 
encouraging the move.

LEAN HOGS:

   The lean hog complex gapped higher this morning as traders are hoping that 
strong demand will be a theme for the market this week and help turn the 
market's direction fully higher. April lean hogs are up $1.57 at $88.20, June 
lean hogs are up $2.70 at $99.00 and July lean hogs are up $2.80 at $100.07. 
It's extremely helpful that the carcass price is up $3.55, which is mainly 
being pushed by the belly's $16.22 jump and the loin's $5.53 jump.

   The projected lean hog index for 3/14/2025 is down $0.27 at $89.28, and the 
actual index for 3/13/2025 is down $0.19 at $89.55. Hog prices are lower on the 
Daily Direct Morning Hog Report, down $2.03 with a weighted average price of 
$87.67, ranging from $87.00 to $89.00 on 858 head and a five-day rolling 
average of $90.12. Pork cutouts total 179.49 loads with 155.62 loads of pork 
cuts and 23.87 loads of trim. Pork cutout values: up $3.55, $100.93.

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




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