DTN Midday Livestock Comments          04/15 11:44

   Traders Desire Greater Fundamental Support 

   Still no cash cattle trade has developed but there is a bid offered at $248 
in Kansas currently. 

ShayLe Stewart
DTN Livestock Analyst

GENERAL COMMENTS:

   The livestock complex is trading mostly lower into Wednesday's noon hour as 
traders would simply like to see more fundamental support arise before they 
advance the contracts any further. No cash cattle trade has developed but 
there's a bid currently offered in Kansas at $248. May corn is up 7 3/4 cents 
per bushel and May soybean meal is up $3.10. The Dow Jones Industrial Average 
is down 198.24 points and NASDAQ is up 255.86 points.

LIVE CATTLE:

   Following Tuesday's sizeable rally, once again the live cattle complex is 
mildly retreating as traders look to the market's fundamentals and desperately 
hope something bullish arises from the cash market later this week when trade 
develops. April live cattle are down $0.32 at $252.22, June live cattle are 
down $0.70 at $250.72 and August live cattle are down $0.72 at $245.80. More 
than anything traders are scanning the marketplace, hoping to find some 
fundamental support that will justify the market's position before too much 
buyers' remorse sets into the marketplace and the contracts scale back sizably. 
Still no cash cattle trade has developed but asking prices are noted in Texas 
at $252 plus, but the rest of the countryside remains idle with only one bid on 
the table at $248 in Kansas.

   Boxed beef prices are lower: choice down $1.18 ($382.02) and select down 
$0.57 ($379.23) with a movement of 55 loads (46.32 loads of choice, 3.18 loads 
of select, zero loads of trim and 5.19 loads of ground beef).

FEEDER CATTLE:

   Although the feeder cattle complex has been the unwavering market within the 
livestock complex, trading higher in a carefree fashion, even the feeder cattle 
complex has eased its bullish tone as the contracts are trading fully lower 
into Wednesday's noon hour. This move is likely happening as traders yearn to 
see greater fundamental support from the live cattle complex and aren't 
thrilled with the weakness of the live cattle futures. April feeder cattle are 
down $2.35 at $373.52, May feeders are down $3.57 at $371.27 and August feeders 
are down $3.42 at $372.40.

LEAN HOGS:

   Mixed tones are seen throughout the lean hog complex as the nearby contracts 
scale lower and some of the deferred contracts trade mildly higher. June lean 
hogs are down $0.62 at $101.82, July lean hogs are down $0.37 at $104.97 and 
August lean hogs are down $0.17 at $105.22. And the main reason the midday 
carcass price was pulled lower is because of a $6.22 decline in the rib and a 
$6.09 decline in the belly.

   The projected CME Lean Hog Index for 4/14/2026 is up $0.27 at $90.60, and 
the actual index for 4/13/2026 is up $0.06 at $90.33. Hog prices are higher on 
the Daily Direct Morning Hog Report, up $1.94 with a weighted average price of 
$90.20, ranging from $91.00 to $92.50 on 3,075 head and a five-day rolling 
average of $90.81. Pork cutouts totaled 154.73 loads with 135.33 loads of pork 
cuts and 19.39 loads of trim. Pork cutout values: down $1.66, $96.94.

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




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