DTN Midday Livestock Comments          04/17 11:40

   Lower Trends Dominate Livestock Complex 

   At this point, the fed cash cattle market is likely done with the bulk of 
this week's trade. However, this afternoon the monthly Cattle on Feed report is 
set to be released. 

ShayLe Stewart
DTN Livestock Analyst

GENERAL COMMENTS:

   The livestock complex is again fully lower moving into Friday's noon hour as 
traders simply haven't seen the fundamental support they yearn for this week. A 
few more sales have developed in the cash market, but at this point the week's 
trade is mostly done. May corn is down 2 cents per bushel and May soybean meal 
is down $0.20. The Dow Jones Industrial Average is up 1,068.16 points and 
NASDAQ is up 394.56 points.

LIVE CATTLE:

   The fed cash cattle market was only able to hold part of the market steady 
while the other part traded anywhere from $1.00 to $3.00 lower. Unfortunately, 
traders simply aren't seeing the fundamental support they need or desire. 
Consequently, that's pushing the live cattle contracts lower into Friday's noon 
hour. April live cattle are down $0.87 at $249.42, June live cattle are down 
$1.25 at $246.30 and August live cattle are down $1.07 at $242.00. There's been 
a bit more trade noted this morning in the South at $248, which is steady with 
Thursday's business and also steady with the previous week's weighted average. 
But the North is unfortunately seeing cattle trade lower. There's been some 
cattle marked in the North to a regional packer for the week of May 11 and 
currently they're trading at $386, which is $2.00 to $3.00 lower than 
Thursday's business. On Thursday, Northern cattle were trading at mostly $388 
to $389, which is steady to $1.00 lower than last week's weighted average. At 
this point it's looking like the bulk of the week's trade is complete, although 
a few more sales could develop after the afternoon's Cattle on Feed report.

   Boxed beef prices are lower: choice down $0.35 ($381.22) and select down 
$1.12 ($377.36) with a movement of 71 loads (58.82 loads of choice, 3.55 loads 
of select, 3.92 loads of trim and 4.43 loads of ground beef).

FEEDER CATTLE:

   In typical feeder cattle complex behavior, the contracts are also trading 
lower as the market isn't willing to move in the opposite direction of the live 
cattle complex right now. April feeders are down $3.52 at $369.55, May feeders 
are down $3.65 at $363.50 and August feeders are down $4.02 at $364.50. At this 
point, a lower tone is fully expected through Friday's close even though this 
afternoon's Cattle on Feed report is expected to be mildly bullish.

LEAN HOGS:

   It's been a long, draining week for the lean hog complex and that 
description has thus far kept with the market through Friday's trade. June lean 
hogs are down $0.67 at $101.00, July lean hogs are down $0.42 at $103.92 and 
August lean hogs are down $0.45 at $104.12. While it may be frustrating to see 
midday pork cutout values higher and traders giving that fundamental uptick no 
recognition, that's simply been the case all week as the market can't seem to 
find any technical support.

   The projected CME Lean Hog Index for 4/16/2026 is down $0.15 at $90.51 and 
the actual index for 4/15/2026 is up $0.06 at $90.66. Hog prices average $90.76 
on the Daily Direct Morning Hog report, ranging from $89.50 to $91.00 on 1,063 
head and a five-day rolling average of $91.03. Pork cutouts total 230.77 loads 
with 206.39 loads of pork cuts and 24.39 loads of trim. Pork cutout values: up 
$3.48, $100.16.

    

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




(c) Copyright 2026 DTN, LLC. All rights reserved.