the_content not responding to the “more tag” outside of WP
when used setup_postdata() , the_content ignore more tag
the more tag does not work on custom queries like that.
You can set the global $more variable to either 1 or 0 to turn the more functionality on or off. Do this right before your call to the content:
$more = 1;
0 means turn on
1 means turn off