Morning Ag Markets – Matt Hines
Date: March 5, 2024 Livestock futures spent most of the day in the red on Monday with nearby fats and all feeders finishing triple digits lower. All contracts posted losses yesterday except for deferred lean hogs. Grains were higher to begin the week and steady to lower cash fed cattle trade last week providing the pressure or cautious start to this week. Last week's negotiated cash cattle trade totaled 71,697 head with 79% committed to the nearby delivery and 21% committed to the deferred delivery. Southern live cattle sold for mostly $183, steady with the previous week's weighted average, and Northern dressed cattle traded at mostly $290, $2 lower than last week's weighted average. NATIONAL FEEDER & STOCKER CATTLE SUMMARY - WEEK ENDING 03/02/2024 RECEIPTS:…