Morning Ag Markets – Pete Loewen 10/30/18
The start of the week for the cattle complex ended with a mixed close and prices in both the live and feeder markets showing just a little less green on the screen than red. Given the fact the negotiated cash feedlot trade from Friday jumped $4 from the previous week, trading up to $115 live, I honestly thought we’d see a more bullish reaction than mixed. Front end October fats that expire tomorrow on the last day of the month did close higher, but were still 57 cents under that $115 trade, making a positive basis. December, which is the next month out, plunged to triple digit losses though and I think that was way too aggressive even with the $2.97 premium it held over…