Morning Ag Markets – Matt Hines
Date: October 9, 2024 Livestock futures settled in the green on Tuesday with triple digit gains for feeders and fresh new recent highs for both feeders and fats. October feeders closing on the 50% retracement level at $252.25 when using the full range from the contract high at $275.17 back in January to the contract low at $229.35 from mid-August. October lean hogs expire on Monday. Looking at the December contract currently trading well above last winter’s seasonal low suggests we may not see quite the falloff later this year, but I would still expect a little downturn this fall. No cash feedlot trade yet this week with smaller showlists in TX but larger in KS and NE as packers entered the week with smaller…