DTN Midday Livestock Comments          04/01 11:28

   Traders Turn the Livestock Contracts Higher

   The livestock contracts were all trading lower at Tuesday's start, but 
traders have since turned the contracts higher as all three markets are seeing 
higher prices ahead of today's noon hour.

ShayLe Stewart
DTN Livestock Analyst

GENERAL COMMENTS:

   The livestock contracts are all trading higher into Tuesday's noon hour as 
traders have changed their demeanor toward the livestock complex. Still no cash 
cattle trade has developed, and the week's trade will likely be again delayed 
until Friday. May corn is up 4 3/4 cents per bushel and May soybean meal is 
down $0.30. The Dow Jones Industrial Average is up 130.17 points.

LIVE CATTLE:

   The live cattle complex may have initially been trading lower this morning, 
but as the market nears the noon hour stronger tones have overcome the live 
cattle market. April live cattle are up $0.55 at $208.35, June live cattle are 
up $0.82 at $204.50 and August live cattle are up $1.40 at $201.42. Following 
the market's lower ascend on both Friday and Monday, traders now again sit in a 
better technical position as they are no longer up against immediate resistance 
pressure. From a fundamental standpoint, boxed beef prices are showing ample 
support, but no cash cattle trade has developed yet and won't likely develop 
until Friday. And yes, your choice cuts really are up over $7.00 this morning 
-- that's no April Fool's joke! Asking prices are noted in the South at $212 
but are still not established or known for the North.

   Boxed beef prices are higher: choice up $7.60 ($342.86) and select up $2.20 
($322.21) with a movement of 55 loads (32.81 loads of choice, 11.24 loads of 
select, 4.32 loads of trim and 6.62 loads of ground beef).

FEEDER CATTLE:

   The feeder cattle complex is "feeling its oats" this morning as the market 
is charging mostly $2.00 higher into Tuesday's noon hour. The spot May contract 
is still about $2.00 lower than the market's resistance threshold, so it's 
likely that traders will be able to maintain their stronger tune throughout the 
afternoon without too much opposition. April feeders are up $1.77 at $288.22, 
May feeders are up $2.47 at $286.97 and August feeders are up $2.55 at $292.05.

LEAN HOGS:

   Although pork cutout values are trading lower, the lean hog complex is also 
trading higher as the market is rallying on some of the positive energy 
stemming from the cattle complex's change in direction. April lean hogs are up 
$0.40 at $88.12, June lean hogs are up $2.57 at $97.85 and July lean hogs are 
up $2.47 at $98.30. The biggest hindrance to the morning's pork cutout value 
was the $4.75 decline in the belly.

   The projected lean hog index for 3/31/2025 is up $0.15 at $88.65 and the 
actual index for 3/28/2025 is down $0.28 at $88.50. Hog prices are lower on the 
Daily Direct Morning Hog Report, down $0.37 with a weighted average price of 
$88.08, ranging from $85.00 to $90.00 on 338 head and a five-day rolling 
average of $87.92. Pork cutouts total 201.96 loads with 177.56 loads of pork 
cuts and 24.40 loads of trim. Pork cutout values: down $0.53, $96.92.

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




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