DTN Midday Livestock Comments          06/17 11:44

   Traders Turn the Livestock Contracts Lower

   All three of the livestock contracts are trading lower as traders seem to be 
tapping the brakes on the market's rallying desire.

ShayLe Stewart
DTN Livestock Analyst

GENERAL COMMENTS:

   Traders' concerns about the livestock complex being overbought and 
over-extended have resurfaced today as all three of the livestock markets are 
trading lower into Tuesday's noon hour. Southern asking prices are noted at 
$238 plus, but no trade has developed yet. July corn is down 1 1/2 cents per 
bushel and July soybean meal is up $0.40. The Dow Jones Industrial Average is 
down 73.74 points and NASDAQ is down 64.65 points.

LIVE CATTLE:

   The live cattle complex is again being faced with technical pushback again 
today as traders' lingering concern that the market could indeed be overbought 
hasn't subsided. August live cattle are down $3.92 at $211.62, October live 
cattle are down $3.15 at $209.75 and December live cattle are down $2.60 at 
$210.65. But the real question that the week has yet to answer is: If the 
market is indeed able to receive fundamental support in the form of stronger 
cash prices and continued stronger boxed beef prices, will it make a difference 
for the futures complex? Personally, I'm not certain that it will, as traders 
seem committed to siding with the bears in the market, but there's a chance 
that if fundamental support does develop that it will at least help hold the 
market closer to steady as opposed to letting it trade multiple dollars lower. 
Asking prices are noted at $238 plus in the South, but are still not 
established in the North.

   Boxed beef prices are higher: choice up $3.07 ($385.18) and select up $2.79 
($370.26) with a movement of 50 loads (34.10 loads of choice, 7.28 loads of 
select, zero loads of trim and 8.99 loads of ground beef).

FEEDER CATTLE:

   Almost like clockwork right now, the feeder cattle complex is also trading 
lower as the market will not move against the direction of the live cattle 
complex in today's market environment. August feeders are down $4.65 at 
$305.50, September feeders are down $4.60 at $304.90 and October feeders are 
down $4.47 at $302.90. Although Friday's Cattle on Feed report is expected to 
be bullish in its findings, traders are numb to its effect right now as the 
only thing they're fixated on is the market's technical pressure.

LEAN HOGS:

   Although the lean hog complex has seemed almost unable to have a poor day in 
the last two weeks, even the lean hog contracts are trading lower into 
Tuesday's noon hour. July lean hogs are up $0.45 at $112.25, August lean hogs 
are down $0.17 at $112.50 and October lean hogs are down $0.42 at $95.75. 
Traders have relied heavily on the support of consumer demand and this morning 
it is worth nothing that pork cutout values are slightly lower.

   The projected lean hog index for 6/14/2025 is up $1.25 at $104.95 and the 
actual index for 6/13/2025 is up $0.89 at $103.70. Hog prices are unavailable 
on the Daily Direct Morning Hog Report because of confidentiality. However, we 
can see that only 640 head have traded this morning, and that the market's 
five-day rolling average sits at $106.05. Pork cutouts total 149.13 loads with 
138.62 loads of pork cuts and 10.52 loads of trim. Pork cutout values: down 
$0.63, $118.85.

   **

   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: 
https://dtn.link/AgSummitSeries-Summer2025 .

   **

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




(c) Copyright 2025 DTN, LLC. All rights reserved.