Morning Ag Markets – Matt Hines
Date: January 19th, 2021 Livestock futures rebounded to end the week but still finished week over week lower. Soaring grains prices continue to provide overall pressure. Cash feedlot trade came under pressure as well this past week trading $1 to $4 lower than the week previous at $109 to $111 live and $172 to $174 on a dressed basis. Mild liquidation still seen has long term friendly for both the cattle and hog markets but demand will have to come back to pre COVID levels before getting too excited for a long lasting rally. For the week, Friday January 8th through Friday January 15th, February Live Cattle -$1.70, April -$1.10, January Feeder Cattle -$1.25, March -$1.00, February Lean Hogs -$.77, April -$.17, February Pork Cutout…