Feeder cattle headed lower?

[redrobin]

Ever yard I talked to is full.
Fats are way too cheap for feeder cattle to be here at this price
Charts are horrible

 

[scout]

All we can do is wait and hope it straightens soon

 

[redrobin]

Ouch, choice boxed beef down 3 bucks yesterday.

 

[scout]

Cold storage inventory down10 percent from a year ago

 

[redrobin]

Cold storage inventory down10 percent from a year ago

i still hear reports of packers taking them before they are ready also. It just doesn't look too good to me. Funds are supposedly short aug fats with very large positions. When they roll out of those aug fat contracts in a couple weeks I hope they roll to a new month and not into a different commodity. Cattle markets don't need any more negative pressure.

 

[scout]

Recently it seems when all hope is lost the market turns no one expected the last rally but it was a good one just wish I had something to sell during it

 

[redrobin]

I've been mostly long the board since April.

 

[scout]

I don't have enough head to use the board I know my big end of steers will go in mid nov at a select vac sale to satisfy the bank and landlords and will back ground the smaller steers and hfrs till Jan