I shouldn't give this away to Haymaker, but here she goes. :wink:
the real jake said:I shouldn't give this away to Haymaker, but here she goes. :wink:
jake those numbers are more than adequate to manipulate markets,its obvious you want to believe these packers,I say good for you,every man has a right to believe what he wants..................good luck PS did you miss this part? [One final comment is appropriate. It bears repeating that the data on captive supplies using the AMS mandatory price reports does not match exactly the definition GIPSA has used for captive supplies. Thus, although there is both more timely and more information on captive supplies from mandatory price reports, caution must be exercised in using the AMS data to estimate the exact extent of captive supplies.]the real jake said:"Forward contracting, which consists mostly of basis contracts between packers and cattle feeders, represented a small percentage of fed cattle procurement each year. Forward contracts averaged 3.5% of packers' procurement for the three years. Packer ownership of livestock, one of the most discussed components of captive supplies and a frequent target for legislative reform, accounted for 7.1% of total fed cattle procurement on average for the three years."
From what I constantly hear, I would have belived these numbers to be higher than they actually are.