Morning ag markets – Tyson Loewen – 08/20/24
Cattle futures brought two sided trade yesterday as most contracts started the week off by opening lower following another hefty leg downward on Friday. It didn’t take long for both fats and feeders to push to the positive side shortly into the morning but then feeders started to turn back lower and that’s the direction they continued, although they recovered quite a bit by the time the closing bell rang in the afternoon. Live cattle were able to fight the pressure as most contract months remained in the green. August fats continue to trade premium to the rest of the contracts which is somewhat counter seasonal, but negotiated cash trade last week was premium to futures at $185 in TX and KS. With cash being…