Morning Ag Markets – Pete Loewen
Date: May 24, 2018 Pete Loewen You know, a week ago we were all in panic mode talking about cattle coming dangerously close to contract lows and since that point the market has done nothing but march higher nearly every day. Cattle complex futures found $2+ gains in most of the feeder cattle contracts yesterday and $1+ on all of the live cattle months except the front month June that was only mildly higher. August was actually up over $2. Fed Cattle Exchange internet trade had a puny 225 head consigned this week and zero sold, so no indication from that action on cash potential this week. Of course, last week’s cash was all over the place, so trying to peg where this week’s negotiated…