DTN Midday Livestock Comments          06/20 11:41

   Traders Push the Livestock Contracts Higher

   No new cash cattle trade has developed, but packer interest should improve 
this afternoon.

ShayLe Stewart
DTN Livestock Analyst

GENERAL COMMENTS:

   It's a positive morning for the livestock contracts as all three of the 
markets are trading higher into Friday's noon hour. No new cash cattle trade 
has developed, but feedlot managers could be waiting to sell any more pens 
until after the Cattle on Feed report is released. July corn is down 3 3/4 
cents per bushel and July soybean meal is down $0.10. The Dow Jones Industrial 
Average is up 64.21 points and the NASDAQ is down 83.95 points.

   Friday's export report shared that beef net sales of 11,700 mt for 2025 were 
down 24% from the previous week and 9% from the prior four-week average. The 
three largest buyers were Japan (4,000 mt), South Korea (3,200 mt) and Mexico 
(1,500 mt). Pork net sales of 28,200 mt for 2025 were up noticeably from the 
previous week but down 1% from the prior four-week average. The three largest 
buyers were Mexico (16,200 mt), Japan (5,000 mt) and Australia (1,600 mt).

LIVE CATTLE:

   Following the severe correction that the market endured earlier this week, 
the live cattle complex has thankfully found some technical support and is 
trading higher into Friday's noon hour. August live cattle are up $1.32 at 
$213.00, October live cattle are up $1.40 at $210.62 and December live cattle 
are up $1.27 at $211.17. No new cash cattle trade has developed thus far, but 
more business should develop ahead of the week's end. So far this week, dressed 
deals in the North have been mostly at $376, $4 lower than last week's weighted 
averages. While only a small test has been reported in the South, Kansas 
specifically at $231, $5 lower than last week's weighted average. Feedlot 
managers and packers may elect to wait to trade any more cattle until after 
this afternoon's Cattle on Feed report is released.

   Boxed beef prices are mixed: choice down $3.44 ($390.35) and select up $1.56 
($376.15) with a movement of 64 loads (47.04 loads of choice, 4.59 loads of 
select, 8.13 loads of trim and 3.88 loads of ground beef).

FEEDER CATTLE:

   Between the strong interest from buyers this week on video sales across the 
nation and the added support of strong market technicals, the feeder cattle 
complex is having no issue trading higher this morning. August feeders are up 
$2.55 at $306.72, September feeders are up $2.77 at $306.57 and October feeders 
are up $2.45 at $304.35. This afternoon's Cattle on Feed report should add 
another bullish feather to the market's hat as well as feeder cattle placements 
are expected to be lighter than a year ago.

LEAN HOGS:

   The lean hog complex is rocking and rolling this morning as the market is 
seeing ample support from the week's strong export report and from continued 
support from consumers as pork cutout values are higher again. July lean hogs 
are up $0.17 at $112.35, August lean hogs are up $0.27 at $112.27 and October 
lean hogs are up $0.92 at $96.07. The biggest boost that the morning's carcass 
price received was from the rib's $6.65 jump, along with the ham's $4.10 jump.

   The projected lean hog index for 6/19/2025 is up $1.74 at $108.08, and there 
is no index for 6/18/2025 as it was a Federal holiday.

   Hog prices are lower on the Daily Direct Morning Hog Report, down $2.22 with 
a weighted average price of $109.74, ranging from $104.00 to $114.00 on 1,097 
head and a five-day rolling average of $113.08. Pork cutouts total 186.90 
loads, with 162.48 loads of pork cuts and 24.42 loads of trim. Pork cutout 
values: up $2.46, $121.44.

   **

   Editor's Note: Get ahead of the herd with the latest insights on the cattle 
market's changing cycle. Join us on Tuesday, June 24, from 10 a.m. CDT to noon 
for an in-depth analysis of how weather patterns, trade disruptions, and 
drought are reshaping the beef industry's traditional 10-year cycle. Oklahoma 
State University Livestock Marketing Specialist Dr. Derrell Peel shares what 
the cowherd of the future will look like, while DTN experts share details on 
weather conditions for forage and pastures, hay market dynamics and what it all 
means for fat and live cattle prices. Register for free here: 
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   **

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




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