Morning Ag Markets – 12/08/22 – Pete Loewen
Nice day of upward movement in the grains yesterday, but it was a lot different story in the meats. In the cattle complex, the live market was quietly mixed at the close and after a nasty drop on Tuesday that took futures way under last week’s cash, it had everyone scratching their head wondering whether futures were going to stop, or whether it was going to break cash really hard. As of the futures close yesterday, cash hadn’t actively traded anywhere and packer bids in the north were within $2 of last week on the bottom side. By the end of the day, some $247 dressed business had taken place up north, which is $2 under last week and Texas had moved a few at…