DTN Midday Livestock Comments          10/28 11:47

   Mixed Tones Continue to be Seen in the Livestock Complex 

   Bids of $226 live have surfaced in Kansas, and bids of $350 are noted in 
Nebraska but still no cattle have traded yet. 

ShayLe Stewart
DTN Livestock Analyst

GENERAL COMMENTS:

   The livestock complex is again trading mixed as the cattle contracts drift 
lower while the lean hog complex has found some mild technical support. No cash 
cattle trade has developed yet but bids have surfaced in Kansas and Nebraska. 
December corn is up 2 3/4 cents per bushel and December soybean meal is down 
$0.40. The Dow Jones Industrial Average is up 139.70 points and the NASDAQ is 
down 4.16 points.

LIVE CATTLE:

   Without any fed cash cattle trade having developed yet, and with morning 
boxed beef prices being lower, it doesn't come as a real surprise to see the 
live cattle contracts trading lower. October live cattle are down $2 at $228, 
December live cattle are down $2.57 at $228.35 and February live cattle are 
down $2 at $231.57. Some bids have surfaced in the fed cash cattle complex, but 
no trade has been reported just yet. Bids of $350 are currently on the table in 
Nebraska, and bids of $226 are being offered in Kansas - but feedlot managers 
have thus far passed on those bids as they hope to see cattle trade higher 
later this week. 

   Boxed beef prices are lower: choice down $2.51 ($369.71) and select down 
$1.71 ($357.14) with a movement of 72 loads (39.82 loads of choice, 7.78 loads 
of select, 9.70 loads of trim and 14.94 loads of ground beef). 

FEEDER CATTLE:

   The feeder cattle complex is also trading lower as trader desire to see 
greater fundamental support before they will likely advance the contracts any 
higher. October feeders are down $0.67 at $352.15, November feeders are down 
$2.62 at $347.45 and January feeders are down $4.22 at $342.92. Today's slight 
pull back isn't traders saying, "we regret pushing the market to this level," 
but rather instead that they desire to see greater support before they can 
confidently push the contracts any higher. 

LEAN HOGS:

   And although a couple of the nearby lean hog contracts are trading lower, 
most of the market is trading higher as traders have lent the market some mild 
support following the week's earlier decline. December lean hogs are down $2.12 
at $59.90, February lean hogs are down $0.35 at $64.55 and April lean hogs are 
up $0.42 at $70.75. The projected lean hog index for 10/27/2026 is down $1.06 
at $68.30, and the actual index for 10/26/2026 is down $0.70 at $69.36. Hog 
prices are lower on the Daily Direct Morning Hog Report, down $6 with a 
weighted average price of $55.82, ranging from $45 to $67 on 4,028 head and a 
five-day rolling average of $59.40. Pork cutouts total 190.70 loads with 161.79 
loads of pork cuts and 28.92 loads of trim. Pork cutout values: up $3.11, 
$76.20. 

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




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