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| Interesting day, I'll let someone else handle technical side.
Cash was very weird, 210 in the north to majors and 135 bid and passed in TX and KS. Hear some on Twitter saying 138 paid in KS. If true that's great news for cattle market as that's a plus 3 basis. However Nebraska traded 10,000 at 210 and that is a -3 basis. I'm kinda confused by this. If Nebraska was having a weather market, I would think we would be the higher vs the south.
Traded out old my feb apr spread at 2 buck profit. Have bunch of bear spreads on, not sure about anything right now...Why would those in Nebraska be selling heir cattle at 210, that's pretty weak. | |
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Cattle
