The ho-hum Cattle report for Jobs Friday
Lean hog futures eased into Thursday’s finish, with contracts losing 12 to 40 cents. USDA reported the national base hog price at $88.03 on Thursday afternoon, a decline of $1.49 from the prior day. The CME Lean Hog Index moved 27 cents higher on September 1 to $90.85. Weekly Export Sales data indicated pork sales of 34,978 MT for 2026 during the week ending August 27, retreating from the previous week’s 12-week high. Mexico accounted for 17,800 MT of the purchases, while China booked 5,900 MT. Shipments totaled 29,963 MT, marking a 3-week high. Mexico was the primary destination at 13,800 MT, followed by Japan with 3,900 MT.
Monthly Census figures placed July pork exports at 528.7 million lbs., the weakest July total in three years and 2.1% below June. In Thursday afternoon reporting, USDA’s pork carcass cutout value dropped $4.50 to $91.12. Bellies showed the steepest pressure, falling $32.13. USDA pegged Thursday’s federally inspected hog slaughter at 467,000 head, putting the week-to-date total at 1.883 million head, which is now 18,000 head under the prior week.
Live cattle futures ended Thursday sharply higher, gaining $2.45 to $4.125. Northern cash trade became more active during the week at $345 to $350 dressed, holding steady with the prior week, while early live sales were reported at $218. Some bids around the country surfaced at $219 to $220 on Thursday. The Thursday Fed Cattle Exchange online auction recorded dressed sales at $343 on 80 head, with several other lots drawing bids of $218 to $219. Feeder cattle futures also advanced during the session, with contracts up $5.65 to $6.95. The CME Feeder Cattle Index slipped 91 cents on September 2 to $328.27. USDA Export Sales data showed 2026 beef sales of only 12,937 MT for the week ending August 27, though that still represented a 3-week high. South Korea purchased 4,700 MT, while Hong Kong bought 1,700 MT. Shipments came in at 12,026 MT, rebounding from the previous week. South Korea was the leading destination at 3,400 MT, with Japan receiving 3,000 MT. Census data converted to a carcass basis showed July beef exports at 198.95 million lbs., the smallest July figure since 2009.
Wholesale boxed beef values continued to weaken in Thursday afternoon’s report, as the Choice/Select spread widened to $26.18. Choice boxes declined $1.88 to $376.90, while Select boxes fell $2.86 to $350.72. USDA estimated Wednesday’s federally inspected cattle slaughter at 105,000 head, bringing the weekly total to 412,000 head. That figure is 3,000 head below the prior week.
Actionable Support numbers for the 3 Livestock commodities we actively track and trade:
October Lean Hogs (HEV26) Chart: https://app.screencast.com/eBhkqGiyDqf6L
Support 81.750~82.950
Sept Feeder Cattle (GFU26) Chart: https://app.screencast.com/kgYrua3ArIGRl
Support 319.700~323.850
Oct Live Cattle (LEV26) Chart: https://app.screencast.com/3vTpgbqXx1AXl
Support 210.800~213.175