Morning Ag Markets – Matt Hines
Date: September 25th, 2018 Cattle futures continued under pressure to start this week as lean hog futures were mostly higher. The bearish cattle on feed report along with corn futures higher provided the initial pressure which could not be reversed out of. Beef prices were lower in the morning trade but bounced back to close higher on light volume. Cold Storage Report for the end of August was overall bearish. Total red meat supplies up 4% from both last month and last year. Total pounds of beef in freezers were up 4% from the previous month and up 6% from last year. Frozen pork supplies were up 6% from the previous month and up 1% from last year. Total frozen poultry supplies were up 5%…