Morning Ag Markets – Matt Hines
Date: April 25th, 2022 Grain and livestock futures mixed to end last week as well as week over week changes. Negotiated cash fed cattle trade $2 to $7 higher with live trade in South from $139 to $141. Trade in the North saw the biggest gains with live trade ranging from $144 to $148 and dressed trade from $228 to $236. After the close, USDA released a bearish Cattle on Feed report with total on feed as of April 1st at 12.1 million head, up 2% from a year ago. Placements in feedlots during March totaled 1.99 million head, slightly below 2021, but expectations were down 8%. This is the largest first quarter placements in 22 years. Marketings of fed cattle during March totaled 2.00…