Morning Ag Markets – Matt Hines
Date: December 20, 2023 Very little follow through buying on Tuesday after new recent highs on Monday across the livestock futures. Cattle traders are a bit nervous heading into the holiday trading season especially with the December Cattle on Feed report coming this Friday after the close and then a 3-day weekend. Most are calling for a higher on feed, 1-2% higher vs. a year ago but lower placements, 2-5% lower than last year. Only very light volume cash fed cattle trade reported so far this week in the North at $169 live which is at the top end of last week’s range. The Quarterly Hog and Pigs report is also coming this Friday afternoon with the average trade estimate for all hogs as of…