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DTN Midday Livestock Comments 11/13 11:44
Traders Send the Livestock Contracts Higher on Friday
Some light cash cattle trade has developed in Nebraska at $335, but that was
only on a small sample -- so it's anyone's guess still where the week's
weighted may land.
ShayLe Stewart
DTN Livestock Analyst
GENERAL COMMENTS:
The livestock contracts are attempting to end the week on a strong note as
currently all three of the contracts are trading higher into Friday's noon
hour. There's been some light business noted in the Nebraska for the fed cash
cattle market, but largely feedlot managers are holding out for better prices.
December corn is up four cents per bushel and December soybean meal is up
$4.30. The Dow Jones Industrial Average is down 82.22 points, and NASDAQ is
down 306.74 points.
LIVE CATTLE:
Upon seeing the resiliency of the fed cash cattle market, which has seen a
few head traded at $335 in the Nebraska but otherwise hasn't seen any other
cattle just yet -- traders are encouraged to see feedlot managers holing out,
hoping that packer interest will improve, even it is just by a $1 or $2.
December live cattle are up $2.32 at $221.22, February live cattle are up $2.42
at $225.32 and April live cattle are up $2.50 at $228.45. As I mentioned above,
some very light cash cattle trade has been noted in Nebraska at $335, but not
enough cattle have traded to say that any sort of a trend has developed yet
this week. Bids remain on the table at $335 dressed in Nebraska, and at $215 in
Kansas. Packers will likely need to show more interest this afternoon unless
they feel extremely confident in the supply, they have already.
Boxed beef prices are lower: choice down $1.75 ($355.84) and select down
$0.79 ($347.92) with a movement of 28 loads (22.38 loads of choice, 3.22 loads
of select, zero loads of trim and 2.28 loads of ground beef).
FEEDER CATTLE:
And with the added market support of seeing the live cattle contracts
trading higher -- the feeder cattle contracts can continue to boldly rally into
Friday's noon hour. November feeders are up $3.22 at $338.90; January feeders
are up $4 at $335.67 and March feeders are up $4.12 at $332.40. And so long as
the live cattle contracts continue to trade higher through the afternoon
Friday, it's likely that the feeder cattle contracts will close with this
momentum.
LEAN HOGS:
And lo and behold, even the lean hog contracts are rallying into Friday's
noon hour. It's likely the combination of greater trader support mixed slightly
with the uptick in pork demand and luckily the lean hog contracts are trading
higher too. December lean hogs are up $1.12 at $56.27, February lean hogs are
up $1.07 at $62.07, and April lean hogs are up $1.90 at $68.72. The projected
lean hog index for Nov. 12, 2026 is down $1.05 at $57.73, and the actual index
for 11/11/2026 is down $1 at $58.78. Hog prices are lower on the Daily Direct
Morning Hog Report, down $0.08 with a weighted average price of $42.26, ranging
from $34 to $45 on 3,051 head and a five-day rolling average of $41.24. Pork
cutouts total 112.07 loads with 88.76 loads of pork cuts and 23.32 loads of
trim. Pork cutout values: up $3.17, $72.31.
ShayLe Stewart can be reached shayle.stewart@dtn.com
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