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DTN Midday Livestock Comments 04/10 11:35
Still Waiting for Cash Cattle Trade to Develop
No cash cattle trade has developed yet, but packer interest should improve
at any moment now.
ShayLe Stewart
DTN Livestock Analyst
GENERAL COMMENTS:
With no cash cattle trade having developed just yet, the market will remain
braced heading into Friday's afternoon, patiently waiting for trade to develop.
Currently there are a few bids on the table; $250 live being offered in Iowa
and $385 dressed being offered in Nebraska, but otherwise the fed cash cattle
market sits idle. May corn is down 2 cents per bushel and May soybean meal is
up $13.50. The Dow Jones Industrial Average is down 251.11 points and NASDAQ is
up 75.01 points.
LIVE CATTLE:
Continuing to hold onto the hope that the fed cash cattle market will at
least trade steady if not a tick higher, the live cattle contracts are trading
higher into Friday's noon hour. April live cattle are up $0.85 at $250.62, June
live cattle are up $0.97 at $248.17 and August live cattle are up $1.02 at
$244.37. Currently there are a few bids on the table; $250 live being offered
in Iowa and $385 dressed being offered in Nebraska, but otherwise the fed cash
cattle market sits idle. Asking prices are noted at $392 to $395 in Nebraska
and $250 live in Texas. Trade should begin to develop at any moment now.
Boxed beef prices are higher: choice up $0.59 ($381.68) and select up $2.18
($383.75) with a movement of 37 loads (27.35 loads of choice, 1.99 loads of
select, zero loads of trim and 7.17 loads of ground beef).
FEEDER CATTLE:
With more than enough support being noted in the cattle complex, the feeder
cattle contracts are also rallying into Friday's noon hour. April feeder cattle
are up $1.15 at $373.67, May feeders are up $1.22 at $371.65 and August feeders
are up $1.70 at $371.82. Demand has been red hot in the countryside for calves
that will be suitable to grass turn out in the next month, and that is adding
another level of fundamental support to the marketplace.
LEAN HOGS:
Mostly lower tones continue to dominate the lean hog complex as the market
yearns to greater fundamental support. And while pork cutout values may be a
tick higher today, traders seem to view the demand as coming a little too late
in the week to really add much support. April lean hogs are steady at $90.67,
June lean hogs are down $0.07 at $104.05 and July lean hogs are down $0.07 at
$106.85.
The projected lean hog index for 4/9/2026 is down $0.01 at $90.28 and the
actual index for 4/8/2026 is down $0.01 at $90.29. Hog prices are lower on the
Daily Direct Morning Hog Report, down $0.51 with a weighted average price of
$89.39, ranging from $88.00 to $91.00 on 1,049 head and a five-day rolling
average of $90.17. Pork cutouts totaled 215.51 loads with 180.70 loads of pork
cuts and 34.80 loads of trim. Pork cutout values: up $1.65, $99.03.
ShayLe Stewart can be reached shayle.stewart@dtn.com
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