Morning Ag Markets – Pete Loewen 8/13/18
In the face of the grain and oilseed trade getting kicked in the teeth on Friday following the report, meat complex futures were really pretty boring by comparison. Live cattle closed mixed and flat, feeders were mildly higher on everything and the hogs were mixed and flat, just like the live cattle. One of the bigger surprises of the day was watching a live cattle market that was flat and a corn market down in the double digits and feeders not able to muster more of a pronounced rally. I thought it would be a gimme for feeders to hit triple digit gains with such a bearish reaction in corn. According to the National Feeder Summary, calves and yearlings sold steady to $5 better last…