June cattle
- Thread starter redrobin
- Start date
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gcreekrch
Well-known member
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.
redrobin
Well-known member
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.
redrobin
Well-known member
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.4Diamond said:
WB
Well-known member
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.
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
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
WB
Well-known member
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.
Faster horses
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redrobin said:
It's been that way since we started back in 1965. I remember a great friend who said in 1973, "the day of the $200 calf is gone." Look what happened in 1974! :shock: More like $150 steer calves.
It is still supply and demand (and politics, sad to say).
Best wishes to all who have cattle to sell!! I hope the market continues to rise.
One of the strongest things for this market is how current cattle are in regards to finish. Carcass Weights are down. Not only seasonally, but significantly below the 5 year average.
When cattle first dropped, we held some over to Market in February. The weights were significant and there was no discounts. I know we weren't the only ones. This years carcass weights are below last years. I don't remember the last time I saw that for any amount of time. Especially with relatively cheap feed. In May, they dropped below the 5 year average.
This means overall tonnage is down and should be supportive for Fat Cattle Pricing. Wts should start to rise for the rest of the year. The Question is if they will stay below the 5 year average and last years.
When cattle first dropped, we held some over to Market in February. The weights were significant and there was no discounts. I know we weren't the only ones. This years carcass weights are below last years. I don't remember the last time I saw that for any amount of time. Especially with relatively cheap feed. In May, they dropped below the 5 year average.
This means overall tonnage is down and should be supportive for Fat Cattle Pricing. Wts should start to rise for the rest of the year. The Question is if they will stay below the 5 year average and last years.
