Morning Ag Markets – Matt Hines
Date: May 22, 2024 Livestock futures were mixed on Tuesday with cattle again hitting new recent highs while lean hogs continue to drift lower. Supporting the cattle market yesterday were lower corn futures, continued technical buying and stronger beef prices. Only light volume cash feedlot trade reported so far this week in the WCB, steady to $2 higher compared to last week, at $190 to $192 live and $298 to $300 on a dressed basis. Lean hogs have lost over half the gains for the year, but continued losses may be limited in the near term as market ready supplies tend to tighten seasonally and packer margins are still firmly in the black. Joplin Regional Stockyards Feeder Cattle - Carthage, MO Livestock Weighted Average Report…