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DTN Midday Livestock Comments          06/14 11:47

   ive Cattle and Feeder Cattle Prices Charge Higher Thanks to Cash Support

   No new cash cattle sales have been reported yet, but more trade could 
develop before the day's over.

ShayLe Stewart
DTN Livestock Analyst


   Both the live cattle and feeder cattle contracts are charging into Friday's 
noon hour higher as the market celebrates the wins that the market has had this 
week in the cash sector. No new trade has been reported at this point, but some 
more sales will likely develop ahead of the week's end. July lean hogs are up 
$0.75 at $93.525, July corn is down 5 cents per bushel and July soybean meal is 
up $2.70. The Dow Jones Industrial Average is down 129.03 points.


   Traders are advancing the live cattle market aggressively through Friday's 
noon hour as the cash cattle market's vigor and strength are lending traders 
all the support they could ever ask for -- not to mention higher boxed beef 
prices are helping too. June live cattle are up $1.70 at $186.52, August live 
cattle are up $3.45 at $182.92 and October live cattle are up $2.70 at $184.40. 
There are few bids currently on the table this morning in Kansas at $186, and 
in Nebraska at $307, but no new sales have been reported at this point. On 
Thursday afternoon Southern live cattle traded for $186, which is $1.00 higher 
than last week's weighted average, and Northern dressed cattle traded for $305 
to $306, which is $4.00 to $5.00 higher than last week's weighted average. If 
the market's weighted average holds at $305-$306, new record highs could be in 
store for the market once again. Congratulations feedlot managers, your 
determination to get your cattle marketed for more money paid off, once again!

   Boxed beef prices are higher: choice up $1.50 ($319.81) and select up $3.80 
($303.05) with a movement of 67 loads (49.25 loads of choice, 10.86 loads of 
select, zero loads of trim and 6.59 loads of ground beef).


   The feeder cattle complex is rocking and rolling through Friday's trade as 
the market is elated to see the strong performance of this week's cash cattle 
market. August feeders are up $4.20 at $261.67, September feeders are up $4.32 
at $262.62 and October feeders are up $4.12 at $262.85. The feeder cattle 
market has seen ample fundamental support throughout the week as feeder cattle 
buyers have been aggressive in the countryside, but traders weren't willing to 
really support the contract ahead of seeing what the cash cattle market was 
going to do. And thankfully, this week's trade ended up being substantially 


   The lean hog complex is again trading lower into Friday's noon hour as 
traders aren't willing to advance the market ahead of the weekend. Yes, cash 
prices are slightly higher, and midday pork cutout values are stronger, but the 
carcass prices have been volatile, and traders desperately want to see 
consistency in the marketplace. July lean hogs are down $0.30 at $92.47, August 
lean hogs are up $0.85 at $89.45 and October lean hogs are steady at $75.70.

   The projected lean hog index for 6/13/2024 is down $0.14 at $91.44, and the 
actual index for 6/12/2024 is up $0.20 at $91.58. Hog prices are higher on the 
Daily Direct Morning Hog Report, up $1.34 with a weighted average price of 
$88.30, ranging from $85.00 to $92.00 on 2,165 head and a five-day rolling 
average of $87.23. Pork cutouts totaled 208.64 loads with 171.90 loads of pork 
cuts and 36.74 loads of trim. Pork cutout values: up $3.92, $100.94.



   Join us Friday, June 14, for the DTN Ag Summit Series: Navigating the Cattle 
Market's Ups and Downs. The cattle market's anything but predictable these 
days. It seemed poised for a comeback, only to be hit with an avian influenza 
outbreak in dairy cattle. Even in this challenging environment, there are tools 
producers can use to manage their risk. In this DTN Ag Summit Series, we'll 
discuss the ins and outs of livestock insurance as well as cattle market 
developments cow-calf producers need to know for the 2024 season. Click here to 

   ShayLe Stewart can be reached


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