DTN Midday Livestock Comments 01/22 11:42 Cattle Futures Find Support Wednesday Morning Strong, triple-digit gains have flooded into cattle futures Wednesday morning, as traders continue to focus on strong cash buyer interest as well as firm support in wholesale beef values. Hog futures are lightly traded with mixed price ranges Wednesday morning. Rick Kment DTN Analyst GENERAL COMMENTS: Renewed cash cattle buyer interest has slowly redeveloped Wednesday morning with Southern bids at $201 per cwt live basis. This is steady with the limited trade seen Tuesday and also steady with last week's price point. Strong, triple-digit gains have developed in both live cattle and feeder cattle futures with the March feeder cattle contract leading the charge higher as gains have exceeded $4 per cwt Wednesday morning. This is helping keep nearby live cattle futures at $199 per cwt, as traders test the $200 per cwt threshold. March corn is down 1 3/4 at $4.883 and March soybean meal is up $5.20 at $316.2. The Dow Jones Industrial Average is up 103.95 at 44,129.76. LIVE CATTLE: Live cattle futures have rebounded from early-week pressure with triple-digit gains in all nearby contract months. Spot-month February futures are leading the upward market shift with gains of $2.20 per cwt as traders continue to hover near the $200 per cwt price level. At midmorning, February live cattle futures are at $199.25 per, with April futures close behind at $199 per cwt. The ability to move prices to and above the $200 per cwt threshold could create not only additional buyer support across the complex, but there could be some additional long-term volatility added to the entire complex at current price levels. Cash cattle markets remain generally quiet following limited trade in the South on Tuesday. A few bids are now on the table in parts of Texas at midmorning at fully steady money with Tuesday's light Southern business, live deals were marked at $201, also fully steady with the prior week's weighted averages. The North was fairly quiet with just a handful of dressed trade reported in Iowa at $320, certainly not enough trade to establish any kind of an accurate trend for the week. Wednesday asking prices are around $202-plus in the South, but still not fully established in the North. February live cattle are $2.20 higher at $199.25, April live cattle are $1.68 higher at $199., June live cattle are $1.68 higher at $194.325. Boxed beef prices are Lower: choice down $0.19 ($331.86) and select down $1.11 ($318.44) with a movement of 81.95 loads (58.20 loads of choice, 8.91 loads of select, 6.07 loads of trim and 8.77 loads of ground beef). FEEDER CATTLE: Feeder cattle futures quickly followed the renewed market momentum seen in live cattle futures Wednesday morning. This has allowed for moderate gains in the lightly traded January contract, although most of the focus has surrounded the March contract, which posted gains more than $4 per cwt through much of the morning. Most of the trade activity is centered around the March and April futures contracts, combined with firm support through the entire live cattle complex as well as renewed pressure in grain markets, which has the potential to reduce feeding costs of cattle put in yards over the upcoming weeks. January feeders are $1.85 higher at $276.25, March feeders are $4.40 higher at $271.65 and April feeders are $3.30 higher at $269.775. LEAN HOGS: Lean hog futures are mixed in a narrow trading range early Wednesday morning. The active, triple-digit gains in cattle futures seem to have diverted most of trader attention and energy away from the lean hog complex for the time being. This could continue to keep trade volume and overall price movement limited through the rest of the session, although some late-day market activity could redevelop if outside markets start to shift from morning levels. The underlying softness in pork cutout values and concern about how future trade direction and talk of tariffs could impact overall global pork sales has traders slightly cautious; but for now, there is not expected to be any significant aggressive moves until more direct information is available to traders. February lean hogs are $0.20 higher at $81.4, April lean hogs are $0.10 lower at $86.6 and May lean hogs are $0.13 higher at $91.55. Hog Prices are higher on the Daily Direct Morning Hog report, up $4.13 with a weighted average of $81.33, ranging from $76.00 to $83.50 on 4,853 head with a five-day rolling average of $80.24. Pork Cutouts totaled 159.89 loads with 137.28 loads of pork cuts and 22.61 loads of trim. Pork cutout values are down $1.16 at $89.08. (c) Copyright 2025 DTN, LLC. All rights reserved.