Morning Ag Markets – Matt Hines
Date: August 20th, 2018 Cash feedlot trade was steady to $1 lower than the week previous at $109 to $111 live and $174 to $175 on a dressed basis. Cattle futures bottomed out early last week and beef prices were higher for the week. Fed cattle supplies through August and September should remain plentiful and at this time there seems to be limited positive news to encourage cattle futures and interest in moving the fed cattle market higher. Lean hog futures have now been gaining for the past 7 days with the prices sharply higher to end the week. African swine fever continues to spread across eastern China although they claim the outbreak in the region is now under control. This is the third confirmed…