Morning Ag Markets – Matt Hines
Date: June 26, 2024 Livestock futures were mixed on Tuesday with cattle futures trading both sides of unchanged and settling mixed while lean hogs continue to make new lows. July lean hogs made a new contract low, taking out the previous contract low that was hit back in May 2023. October live cattle hit a new 8-month high on Tuesday, with just a few days left until expiration, as higher cash trade has been the most supportive factor bringing futures sharply higher the past couple weeks to converge with the cash trade. Higher beef prices of course continue to support the cattle market as well. A recap of last week’s cash fed cattle trade showed feedlots selling 73,368 head, nearly 80% of that for nearby…