Morning Ag Markets – Matt Hines
Date: September 18, 2023 Cattle futures continued to rally last week with live and feeder cattle contracts all making new contract highs. Both spot contracts also hit new all-time highs. Funds continue to buy in anticipation of tighter fed cattle supplies and higher prices through the end of the year. Negotiated cash fed cattle trade in the South reported another $2 to $3 higher at $182 to $183 live. Trade in the North also $2 higher than the week previous at $184 to $186 live and $292 dressed. Weekly closes for livestock futures and meats…October Live Cattle +$3.70, December +$4.40, September Feeder Cattle +$2.02, October +$5.32, October Lean Hogs +$1.60, December +$.65, Choice Boxed Beef -$7.19 at $305.71 and Pork Carcass Cutout +$1.03 at $98.83.…