Morning Ag Markets – Matt Hines
Date: December 27, 2023 Selling pressure only lasted for a few hours for cattle futures while lean hogs held losses into the close on Tuesday. The bearish cattle on feed report kicked feeders triple digits lower at the open but that was quickly tossed aside as trading volume was light and support from higher cash fed cattle trade last week won out. December live cattle will expire at the end of the week and converged with cash last week at $170. I would expect we try to hold steady this week as well but no bids or offers have been reported yet. NATIONAL FEEDER & STOCKER CATTLE SUMMARY - WEEK ENDING 12/23/2023 RECEIPTS: Auctions Direct Video/Internet Total This Week: 103,100 36,300 1,300 140,700 Last Week:…