Morning Ag Markets – Matt Hines
Date: June 21st, 2023 The cattle complex continued their downward action during yesterday’s trade as both fats and feeders are taking a breather from the very steep run up from about two weeks ago. It is not surprising to see some pull back after such a run to new high territory, but typically these periods of correction haven’t lasted more than a couple weeks. Those new highs that were made were heavily supported by a negotiated cash market that was screaming higher at the same time, but the cash market has cooled down a bit as well. Last week volumes were very light at steady to $5 lower than the week previous, showlists appear light this week and I wouldn’t expect to see much trade…