Morning Ag Markets – Matt Hines
Date: August 21, 2023 Livestock futures were all higher to finish out last week, but losses during the week were to much to overcome for weekly gains for cattle futures. Negotiated cash fed cattle trade again only light volume reported by Friday afternoon, yet last week’s trade was steady to $2 lower than the week previous. Trade in North reported at $185 to $188 live and $294 to $297 dressed with trade in South at $177 to $179 live. After the close, USDA released the August Cattle on Feed report. Cattle and calves on feed totaled 11.0 million head on August 1, 2023, down the expected 2% from the year previous. July Marketings totaled 1.73 million head, down the expected the 5% from last year.…