Morning Ag Markets – Matt Hines
Date: August 15th, 2022 All livestock futures finished in the red on Friday but the nearby, and in delivery, August live cattle contract was able to hit yet another new recent high and settled just $1.60 away from the contract high. TX & KS cash fed cattle trade took a big step higher, up to $140 live which was $4 to $5 higher than a week ago. The North trade still carrying a premium but only managing steady to $2 higher, ranging from $144 to $148 live and $229 to $230 dressed. The USDA updated meat supply and demand on Friday with beef production this year increasing 68 mil pounds and next year increasing 325 mil pounds compared to a month ago. Beef exports also…