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Interesting number there in the face of a supposed increase in replacement heifers and an overall smaller calf crop than last year.
It reminded me of this thread:
http://talk.newagtalk.com/forums/thread-view.asp?tid=515105
How much of that increase is from holding fats longer and how much is from selling calves earlier and lighter? Assuming it's a combination of those two factors and not that a bunch of calves just appeared out of thin air this year, shouldn't that report have been bullish for feeder prices (i.e. less calves to sell and more replacements needed)? | |
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The USDA COF report showed the number on feed November 1 was 100.45% of a year ago.
