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.
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.
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.
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.