DTN Midday Livestock Comments          05/15 11:33

   Cattle Prices Inch Higher Into Monday's Noon Hour 

   No more cash cattle trade has developed and it's likely the bulk of this 
week's trade is done. 

ShayLe Stewart
DTN Livestock Analyst

GENERAL COMMENTS:

   No longer up against immediate resistance pressure, the cattle contracts are 
trading slightly higher into Friday's noon hour, while the hog contracts 
continue to trade lower. No more cash cattle trade has developed and it looks 
like the bulk of this week's business is done. July corn is down 11 3/4 cents 
per bushel and July soybean meal is up $3.40. The Dow Jones Industrial Average 
is down 484.80 points and NASDAQ is down 366.22 points.

LIVE CATTLE:

   It's been another back-and-forth trading day for the live cattle complex as 
the contracts are now slightly higher heading into Friday's noon hour as 
traders have backed the contracts away from resistance and aren't concerned 
about that pressure cropping up in the immediate future. June live cattle are 
up $1.37 at $253.45, August live cattle are up $1.67 at $247.82 and October 
live cattle are up $1.67 at $239.75. No new trade has developed in the cash 
cattle market and it's looking like the bulk of this week's trade is 
essentially done. So far this week, Northern dressed cattle have traded from 
mostly $410 to $415, which is $7.00 to $12.00 higher than last week's weighted 
average, and Southern live cattle have traded at mostly $260 to $263, which is 
$3.00 to $5.00 higher than last week's weighted average. Again today, do note 
that select prices are higher than choice cuts as supplies of lean beef remains 
extremely thin.

   Boxed beef prices are higher: choice up $1.41 ($388.86) and select up $1.62 
($390.62) with a movement of 76 loads (61.53 loads of choice, 4.03 loads of 
select, zero loads of trim and 10.38 loads of ground beef).

FEEDER CATTLE:

   Upon seeing the live cattle contracts trade in a slightly stronger manner, 
the feeder cattle contracts are also trading modestly higher into Friday's noon 
hour. May feeders are up $1.20 at $368.77, August feeders are up $3.15 at 
$361.15 and September feeders are up $3.62 at 358.85. So long as the live 
cattle contracts continue to scale higher, the feeder cattle complex will 
likely do the same through the day's close.

LEAN HOGS:

   Even though pork cutout values are mildly higher, the lean hog contracts 
still can't seem to gain substantial momentum. June lean hogs are down $1.32 at 
$103.22, August lean hogs are down $1.75 at $103.72 and October lean hogs are 
down $1.30 at $90.60. It's unlikely anything is going to change the direction 
of the lean hog complex ahead of Friday's close.

   The projected CME Lean Hog Index for 5/14/2026 is down $0.02 at $90.46 and 
the actual index for 5/13/2026 is down $0.26 at $90.48. Hog prices on the Daily 
Direct Morning Hog Report average $91.87, ranging from $89.00 to $95.00 on 
1,313 head and a five-day rolling average of $94.50. Pork cutouts total 203.07 
loads with 174.97 loads of pork cuts and 28.11 loads of trim. Pork cutout 
values: up $0.90, $97.45.

    

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




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