Morning Ag Markets – Matt Hines
Date: May 20th, 2020 Livestock futures were flat to mostly lower on Tuesday. Cash feedlot trade began in Nebraska steady with last week so far at $115 to $120 live and $180 to $190 dressed. The Fed Cattle Exchange online auction will be held later today with 2,782 head consigned compared to 4,601 head last week of which 1,272 head sold at $110 live. U.S. Secretary of Agriculture Perdue announced details of the Coronavirus Food Assistance Program (CFAP), which will provide up to $16 billion in direct payments to deliver relief to America’s farmers and ranchers impacted by the coronavirus pandemic. Direct payments will be based on a portion of inventory on hand as of January 15th. In addition to this direct support to farmers…