Morning Ag Markets – Matt Hines
Date: November 25th, 2019 Cattle futures finished lower for the week, feeders sharply lower as the January contract becomes the front month. Cash feedlot trade reported at $1 to $2 higher starting midweek. Trade in the South reported at $116 live while trade in the North $115 to $117 live and mostly $184 dressed. November Cattle on Feed Report USDA Actual Average Estimate Cattle on Feed November 1 101% 101.4% Placed on Feed in October 110% 112.2% Marketed in October 99% 99.6% Overall neutral to friendly versus the expectations, bearish big picture with placements up 10% vs. a year ago. Just a reminder that placements a year ago were lower though due to terrible weather conditions as well. Cold Storage • Total frozen poultry down…