DTN Midday Livestock Comments          02/17 11:33

   Traders Happily Push Livestock Contracts Higher

   The livestock contracts are trading fully higher into midday Tuesday as 
traders have eagerly jumped into the market early this week. 

ShayLe Stewart
DTN Livestock Analyst

GENERAL COMMENTS:

   The livestock complex is trading higher into midday Tuesday as the cattle 
complex is delighted to note the $4.00 advancement in last week's cash market, 
and the lean hog contracts have finally found some technical support. New 
showlists appear to be mixed, higher in Nebraska/Colorado, about steady in 
Kansas, and lower in Texas. March corn is down 4 1/4 cents per bushel and March 
soybean meal is down $2.70. The Dow Jones Industrial Average is down 40.63 
points and the NASDAQ is down 69.81 points.

LIVE CATTLE:

   It's been a wildly successful day thus far for the live cattle complex as 
the market is seeing immense support from traders, which is helping the 
contracts scale well over $1.00 higher into midday Tuesday. More than anything, 
the robust fundamental support from last week's cash cattle market, mixed with 
the bullish long-term trajectory, seems to have traders' full attention this 
morning. February live cattle are up $3.07 at $246.15, April live cattle are up 
$1.90 at $242.52 and June live cattle are up $1.95 at $238.10. New showlists 
appear to be mixed, higher in Nebraska/Colorado, about steady in Kansas, and 
lower in Texas.

   Last week, Southern live cattle were marked at mostly $248, which is $4.00 
higher than the previous week's weighted average and Northern dressed cattle 
traded at mostly $382, which is also $4.00 higher than the previous week's 
weighted average. Last week's negotiated cash cattle trade totaled 59,651 head. 
Of that 95% (56,657 head) were committed to the market's nearby delivery, while 
the remaining 5% (2,994 head) were committed to the market's deferred delivery 
option.

   Boxed beef prices are mixed: choice up $0.86 ($366.91) and select up $0.14 
($361.37) with a movement of 62 loads (45.85 loads of choice, 5.50 loads of 
select, 3.48 loads of trim and 6.86 loads of ground beef).

FEEDER CATTLE:

   Upon noting the strength of last week's fed cash cattle trade and seeing how 
traders are energetically supporting the live cattle contracts, it's been an 
easy decision for traders to push the feeder cattle contracts higher. March 
feeders are up $4.15 at $370.30, April feeders are up $3.97 at $367.42 and May 
feeders are up $3.97 at $363.40. So long as the live cattle complex continues 
to trade higher through the day's close, the feeder cattle contracts will 
likely follow in the same direction.

LEAN HOGS:

   After a tumultuous downturn over the last seven trading days, the lean hog 
complex has finally found some technical support as traders potentially believe 
that the contracts have created enough space from the contract highs scored in 
early February. April lean hogs are up $0.95 at $92.22, June lean hogs are up 
$1.35 at $105.90 and July lean hogs are up $1.55 at $107.80. Pork cutout values 
are a tick lower this morning, but that doesn't seem to be affecting traders at 
this point.

   The projected lean hog index for 2/16/2026 is up $0.08 at $87.13 and the 
actual index for 2/13/2026 is up $0.13 at $87.06. Hog prices are unavailable on 
the Daily Direct Morning Hog Report because of confidentiality. However, we can 
see that only 205 head have traded this morning and that the market's five-day 
rolling average now sits at $87.58. Pork cutouts total 141.07 loads with 127.40 
loads of pork cuts and 13.67 loads of trim. Pork cutout values: down $1.43, 
$95.42.

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




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