Morning Ag Markets – Matt Hines
Date: January 31, 2024 Livestock futures on Tuesday all finished higher yet somewhat cautiously. Beef prices fell off and the recent weakness could keep packers from paying higher money this week. Cash trade has yet to develop. The biggest news of the week will the Biannual Cattle Inventory from USDA after the close today. It is anticipated to show total inventory still below a year ago, primarily fewer beef cows, and the continuation of liquidation. This will be supportive to the cattle market but may not rocket futures higher as both fats and feeders have already gained back 50% from the steep losses this past fall. Joplin Regional Stockyards Feeder Cattle - Carthage, MO Livestock Weighted Average Report for 1/29/2024 - Final This Week: 11,315…