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June cattle

Posted: Sat Jun 03, 2017 7:39 pm
by redrobin
We had more than an 8 dollar increase in the price on the board this week. Pretty nice move. I expect 3 to 4 dollars more this week unless cash moves higher then I would expect more.

Re: June cattle

Posted: Sat Jun 03, 2017 8:16 pm
by gcreekrch
We forward contracted 3 loads of calves yesterday. Happy with the prices and we can budget for the year now. Still some left to sell in the fall.

Re: June cattle

Posted: Sat Jun 03, 2017 9:09 pm
by redrobin
These levels are much more profitable than where we were. Good business to hedge some here.

Re: June cattle

Posted: Mon Jun 05, 2017 6:14 pm
by redrobin
1.25% increase in boxed beef today. Demand for beef is fantastic.

Re: June cattle

Posted: Tue Jun 06, 2017 5:08 am
by redrobin
264.74 is the all time high price for choice boxed beef. Records were made to be broken. Perhaps we can do that before Father's Day. In October of 2014 choice boxed beef was trading at 247.00 and cash fats that week established a new record high trading st 170.00 per cwt.

Re: June cattle

Posted: Tue Jun 06, 2017 8:38 pm
by 4Diamond
Nice pull back today, what's up with that?

Re: June cattle

Posted: Wed Jun 07, 2017 4:01 am
by redrobin
4Diamond wrote:Nice pull back today, what's up with that?

Somebody banged the spread at the close. Fooled the computers it looked like. We'll see more today. The June august spread lost a dollar in a minute. Volume wasn't heavy but still took a big order to do that. Just 1400 head consigned to the fce and I read the show list is smaller.

Re: June cattle

Posted: Wed Jun 07, 2017 12:01 pm
by WB
I wouldn't view breaking the record as all positive. Consumers will replace beef at some price level. It would be better long term if we were to plateau some time soon.

Re: June cattle

Posted: Wed Jun 07, 2017 7:25 pm
by redrobin
WB wrote:I wouldn't view breaking the record as all positive. Consumers will replace beef at some price level. It would be better long term if we were to plateau some time soon.

Seriously? Have you bought a truck lately?

Re: June cattle

Posted: Thu Jun 08, 2017 6:05 am
by Traveler

Re: June cattle

Posted: Thu Jun 08, 2017 7:12 am
by mrj
Marketing really isn't a strength for me, leaving that to others in the family, however, doesn't it seem like 'markets' are prone to using ANY excuse to drop???

Reading the link Traveler posted (Thanks, T.) it is interesting how one religion controls what happens in government in India. And how our markets can use basically a news story about what may happen so far away to raise or lower prices for cattle in the USA.

mrj

Re: June cattle

Posted: Thu Jun 08, 2017 7:15 am
by WB
Seriously, equiliribium of demand will be reached at some point. After that we will start backing product up again. Anyone remember the fall of 2015? The price of trucks has little to do with commodity prices. Yes, I own cattle all the way from baby calves to slaughter ready steers.