Morning Ag Markets – Matt Hines
Date: August 29th, 2018 Cattle futures gave back half their gains from Monday on yesterday disappointing follow through. Lean hog futures opened higher but sellers stepped in pressuring the markets for the rest of the day with the nearby October contract touching over $3 lower in the last few minutes of trade. There have been a couple thousand of cash fed cattle trade so far this week at $106 to $108.50 live and $168 to $170 dressed, $1 to $4 lower than last week. Fed Cattle Exchange online auction scheduled for later this morning with 751 head consigned compared to last week’s 359 head of which 280 head sold at $109.50. Cattle slaughter from Tuesday is estimated at 119,000 head matching last Tuesday and up…