Morning Ag Markets – Matt Hines
Date: June 12th, 2023 Live cattle and lean hog futures a bit calmer to end the week while feeders again traded a wide daily range. New highs for both fats and feeders mid last week, but a technical selloff then battled friendly fundamentals the balance of the week. Negotiated cash fed cattle trade volume picked up first in the North from $188 to $194 live, $2 to $7 higher vs. last week, and $298 to $302 dressed, $8 to $12 higher. TX and KS trade reported mostly at $185 live, $5 higher than last week with the full range for the week from $184 to $188. The WASDE monthly supply and demand report increased beef production estimates both for this year and next with sharply…