DTN Midday Livestock Comments          12/08 11:44

   Traders Use More Caution Monday 

   Following last week's rally, the livestock complex is off to a more cautious 
start to this week's trade. 

ShayLe Stewart
DTN Livestock Analyst

GENERAL COMMENTS:

   The livestock complex is handling Monday's trade a bit more cautiously as 
traders yearn to see more fundamental support. Especially in the cattle 
complex, with both the live cattle and feeder cattle contracts nearing their 
40-day and 100-day moving averages, traders will need to see more fundamental 
support before they'll challenge those moving averages. March corn is down 1 
cent per bushel and January soybean meal is down $0.50. The Dow Jones 
Industrial Average is down 233.45 points and NASDAQ is down 68.95 points.

LIVE CATTLE:

   Following last week's incredible rally, the live cattle complex is taking 
more a cautious approach to Monday's market as traders need to see more 
fundamental support before they'll begin to take on the market's 40-day and 
100-day moving averages, which are posing as a significant resistance right 
now. December live cattle is up $0.50 at $227.65, February live cattle is down 
$0.20 at $226.95 and April live cattle is down $0.90 at $226.77. New showlists 
appear to be mixed, higher in Texas, and Nebraska/Colorado, but lower in Kansas.

   Last week Northern dressed cattle traded at mostly $340 to $345, which is 
$11.00 to $16.00 higher than the previous week's weighted average. Southern 
live cattle traded at mostly $225 to $226, which is $7.00 to $8.00 higher than 
the previous week's previous weighted average.

   Boxed beef prices are lower: choice down $0.01 ($361.19) and select down 
$0.05 ($347.34) with a movement of 67 loads (39.13 loads of choice, 13.17 loads 
of select, 6.65 loads of trim and 7.62 loads of ground beef).

FEEDER CATTLE:

   Continuing to mirror the same mannerisms of the live cattle complex, the 
feeder cattle contracts are trading lower into Monday's noon hour. January 
feeders are down $3.05 at $336.00, March feeders are down $2.50 at $330.80 and 
April feeders are down $2.34 at $329.87. Last week the market saw incredible 
fundamental demand in the cattle complex; but if traders are going to continue 
to push the contracts higher and begin to challenge current resistance 
thresholds, they're going to need to see continued support.

LEAN HOGS:

   The lean hog complex is trading mixed into Monday's noon hour as the market 
would like to continue to trade higher and keep with the trend of last week. 
But before doing so, traders are hoping to see continued fundamental demand -- 
especially as they begin to pressure resistance thresholds. February lean hogs 
are down $0.20 at $82.07, April lean hogs are down $0.22 at $86.55 and June 
lean hogs are up $0.05 at $98.70. The midday cutout price is being dragged 
lower mainly by the $4.11 decline in the picnic.

   The projected CME Lean Hog Index for 12/5/2025 is up $0.03 at $81.84, and 
the actual index for 12/4/2025 is down $0.02 at $81.81. Hog prices are again 
unavailable on the Daily Direct Morning Hog Report because of confidentiality. 
However, we can see that only 529 head have traded and the market's five-day 
rolling average now sits at $70.42. Pork cutouts total 197.23 loads with 155.01 
loads of pork cuts and 42.22 loads of trim. Pork cutout values: down $0.25, 
$96.14.

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




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