Morning Ag Markets – Pete Loewen – 11/09/18
Cattle complex futures were able to shake off the heavy spread trading that was prevalent on Wednesday and get back to more normal type trade. Both the live and feeder markets closed mildly higher across all contract months. Lean hog futures didn’t shake the spreading. Front month December closed mildly higher and the next month out was down over $1, then a lot of mixed closes in the deeper deferreds. Actually pretty decent action across the meat complex aside from those Feb Hogs and it was all happening with cash hogs under pressure and product trade between the two markets under really heavy pressure. Pork product was already losing steam through October, but beef was moving aggressively higher. That came to a screeching halt when…