Morning Ag Markets – Matt Hines
Date: October 13th, 2021 Livestock futures mixed again on Tuesday as cattle futures traded both sides of unchanged and lean hogs continue to drift lower. Light cash feedlot trade yesterday steady with last week in the WCB at $122 live and for the TX Cash Pool at $124.15. USDA updated supply and demand for the meats by increasing beef production estimates for both this year and next while decreasing both pork and poultry production estimates. The report confirming longer term bullish fundamentals for the cattle market as liquidation, increased domestic consumption projections and reduced pork and poultry production should eventually lead to higher sustained prices. Winter Livestock (Tuesday) - La Junta, CO Livestock Weighted Average Report for 10/12/2021 This Week: 2,171 Last Week: 1,770 Last…