Morning Ag Markets – Matt Hines
Date: May 19th, 2021 Morning Ag Markets – Matt Hines Livestock futures mixed yesterday with higher corn again pressuring feeders, fats holding gains after some steady cash feedlot trade already this week and lean hogs bouncing higher after holding trendline support this week. Cash feedlot trade so far this week started in TX & IA at $119 to $120 live on light volume and yesterday some additional light volume in TX & KS at $119 to $120 live. Cattle slaughter so far looking better than the last couple weeks, maybe we get back to 650K+ week, that would be helpful in holding or exceeding the $120 mark. U.S. beef priced sharply higher this week as Argentina banned beef exports for 30 days to try and…