Morning Ag Markets – Pete Loewen – 01/03/2020
The ag commodity complex finally picked up some steam and volatility in the price movement yesterday after a long hiatus of really slow action. Case in point, live and feeder cattle futures have been trading in close to a $1 range from high to low through the Christmas and New Year weeks, but fats expanded to more than $2 from high to low and feeders over $3 in yesterday’s range. Unfortunately, most of that was at lower money as well with some steep losses at times. By the close though, the active selling subsided and prices moved back closer to unchanged with a finish that was just mildly lower in cattle. Hogs closed out the day mildly higher. Finding solid reasoning for the cattle weakness…