Morning Ag Markets – Matt Hines
Date: June 25th, 2018 Cash feedlot trade finally got going Friday as packers held firm all week. Trading began at $109 to $110 live, steady to $1 lower than the week previous. It continued to fall throughout the day on Friday down to $107 live and $170 to $174 on a dressed basis in the North, up to $6 lower than a week ago. Bearish USDA Cold Storage Report with Total Red Meat 9% higher than a year ago and Beef up 13% from a year ago. Followed by another bearish Cattle On Feed Report. Cattle on feed as of June 1st totaled 11.6 million head, 104% vs. a year ago and 1 point higher than the pre report estimate. Placements during May equal to…