Morning Ag Markets – 5/28/24 – Tyson Loewen
Cattle futures had two sided trade on Friday but nothing too exciting heading into the COF report that came out after the close. Live cattle didn’t have a very wide range of trade and feeders didn’t trade anything too extreme either. Both failed to move above Thursday’s new recent highs. Looking at the full week of futures trade though, things were impressive last week with live cattle making new recent highs each day Monday through Thursday. Feeder cattle weren’t as impressive on the charts, but they did climb and were able to take out some resistance from the highs in April and make new recent highs on both Wednesday and Thursday. Friday afternoon’s monthly cattle on feed report came in right in line with the…