DTN Midday Livestock Comments          05/13 11:45

   Traders Show the Livestock Complex Continued Interest

   The livestock contracts are trading mostly higher as traders continue to 
support the marketplace diligently.

ShayLe Stewart
DTN Livestock Analyst

GENERAL COMMENTS:

   The livestock complex is trading mostly higher, besides a few of the nearby 
cattle contracts. Traders appear hopeful and seem somewhat interested in 
maintaining the levels achieved on Monday, now they just need fundamental 
support to come in full-fledged this week to complement their move. May corn is 
down 6 3/4 cents per bushel and May soybean meal is steady. The Dow Jones 
Industrial Average is down 218.12 points and the NASDAQ is up 300.27 points.

LIVE CATTLE:

   The live cattle complex is again trading higher, which is an improvement 
from the morning's earlier tone, as at first, traders were leery of overly 
supporting the cattle contracts. And aside from the spot June contract, all of 
the live cattle contracts are currently trading higher into Tuesday's noon 
hour. June live cattle are down $0.12 at $216.70, August live cattle are up 
$0.17 at $211.77 and October live cattle are up $0.05 at $208.50. The only news 
that has developed in the cash cattle complex is that asking prices in the 
South are now noted at $223 to $225, but remain unestablished in the North. 
Trade will likely be delayed until later in the week.

   Boxed beef prices are mixed: choice up $1.43 ($349.57) and select down $1.35 
($333.88) with a movement of 84 loads (51.25 loads of choice, 14.76 loads of 
select, 8.15 loads of trim and 9.43 loads of ground beef).

FEEDER CATTLE:

   The feeder cattle complex is trading mostly higher, although some of the 
nearby contracts are trading slightly lower. More than anything, traders just 
simply seem to be looking around, wondering: after Monday's sharp advancement, 
can the complex sustain these levels? May feeders are down $0.27 at $302.82, 
August feeders are down $0.17 at $306.20 and September feeders are down $0.17 
at $305.27.

LEAN HOGS:

   The lean hog complex is again trading higher as traders are hopeful that 
trade relations with China will improve soon. Meanwhile, the spot June contract 
is trading near the market's resistance at $100, but it has not yet surpassed 
that threshold. June lean hogs are up $1.12 at $99.42, July lean hogs are up 
$0.85 at $103.32 and August lean hogs are up $0.70 at $102.02. It is also 
supportive that morning pork cutout values are higher, which traders are also 
hopeful will be a trend this week.

   The projected lean hog index for 5/12/2025 is up $0.39 at $90.31, and the 
actual index for 5/9/2025 is down $0.07 at $89.92. Hog prices are unavailable 
on the Daily Direct Morning Hog Report because of confidentiality. However, we 
can see that only 3,570 head have traded, and that the market's five-day 
rolling average now sits at $94.12. Pork cutouts totaled 177.91 loads, with 
153.41 loads of pork cuts and 24.50 loads of trim. Pork cutout values: up 
$0.71, $97.22.

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




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