Morning Ag Markets – Matt Hines
Date: June 5, 2024 Livestock futures were mixed on Tuesday but finished mostly lower throughout with minor losses to both fats and feeders and triple digit losses for nearly every lean hog contract. Cattle futures have spent the past couple trading sessions trading in fairly tight ranges and looking for direction this week. Last week’s cash fed cattle trade was overall $1 to $3 lower with the weighted average reported at $188.83 live and $301.20 on a dressed basis. Only very light volume reported so far this week in the WCB at $190 live. Lean hogs continue to drift lower, breaking nearby support yesterday for a new 5-month low. Oklahoma National Stockyards Feeder Cattle - Oklahoma City, OK Livestock Weighted Average Report for 6/3/2024 -…