DTN Midday Livestock Comments          02/24 11:38

   Except for a Couple of Nearby Live Cattle Contracts, the Livestock Complex 
is Trending Higher 

   Aside from a couple of nearby live cattle contracts, the livestock complex 
is trading mostly higher heading into Tuesday's noon hour. 

ShayLe Stewart
DTN Livestock Analyst

GENERAL COMMENTS:

   The livestock complex is trading mostly higher as we head into Tuesday's 
noon hour. Aside from a couple of nearby live cattle contracts, the rest of the 
livestock complex is trending mostly higher. Still no cash cattle trade has 
developed and it's likely trade won't surface until Thursday or Friday. March 
corn is down 3/4 cent per bushel and May soybean meal is up $1.20. The Dow 
Jones Industrial Average is up 413.31 points and NASDAQ is up 251.57 points.

LIVE CATTLE:

   The live cattle complex is continuing to trade mixed as it's unclear whether 
or not an agreement was reached at the JBS packing plant in Greeley, Colorado, 
to avoid a union plant strike. This uncertainty has the nearby contracts 
trading slightly lower, while the deferred contracts are currently trading 
mildly higher. Still no cash cattle trade has developed, and it's unlikely any 
trade will surface ahead of Thursday or Friday. April live cattle are down 
$0.25 at $239.00, June live cattle are down $0.17 at $235.32 and August live 
cattle are down $0.02 at $233.32.

   Boxed beef prices are higher: choice up $6.65 ($375.87) and select up $1.79 
($366.10) with a movement of 58 loads (39.59 loads of choice, 4.96 loads of 
select, zero loads of trim and 13.79 loads of ground beef).

FEEDER CATTLE:

   The live cattle complex may be trading mixed, but the feeder cattle 
contracts have found a little more support and are currently fully higher 
moving into Tuesday's noon hour. More than anything it seems the market is no 
longer up against immediate resistance pressure, which is why traders are 
comfortable to now allow the contracts to push slightly higher. March feeders 
are up $0.70 at $365.00, April feeders are up $0.87 at $362.15 and May feeders 
are up $0.90 at $358.87.

LEAN HOGS:

   The lean hog complex is keeping with its recent trend and is trading higher 
into Tuesday's noon hour. April lean hogs are up $2.02 at $95.72, June lean 
hogs are up $1.75 at $110.10 and July lean hogs are up $1.50 at $111.85. This 
morning pork cutout values are down slightly, but prices were stronger Monday 
and the market remains far enough away from technical resistance pressure that 
traders are comfortable advancing the contracts at this point in time.

   The projected CME Lean Hog Index for 2/23/2026 is up $0.18 at $88.35, and 
the actual index for 2/20/2026 is up $0.22 at $88.17. Hog prices are 
unavailable on the Daily Direct Morning Hog report because of confidentiality. 
However, we can see 6,271 head have traded this morning and that the market's 
five-day rolling average sits at $89.33. Pork cutouts total 175.93 loads with 
158.00 loads of pork cuts and 17.93 loads of trim. Pork cutout values: down 
$0.20, $97.20.

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




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