Morning Ag Markets – Matt Hines
Date: November 23rd, 2018 Most salebarn reports so far this week reported higher undertones. Cash feedlot trade Tuesday & Wednesday at $116 to $117 in TX, $2 to $3 higher than last week, IA saw some trade at $113 to $115 live, call that $1 lower to $1 higher and light trade in NE at $116 live and $180 dressed, $2 to $4 higher. Wednesday midday, USDA released a friendly Cattle on Feed report along with a mixed Cold Storage report. November 2018 Cattle on Feed USDA Actual Avg Guess Cattle on Feed Nov 1 at 11.7 million head 103% 104.4% October Placements totaled 2.25 million 94% 99.8% October Marketings totaled 1.89 million 105% 103.8% On Feed numbers by state: (current vs previous year Nov…