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New Mexico | I figure they'll take $2 to $5 cwt off old style traditional cash fats in July.
Also figure cull cows will move up approx $14 to $18 cwt over the next 40 days.
$65 cwt for the higher yield cows now and that keeps trending higher. Cull bulls $80 to $85 cwt currently.
FI inspected slaughter levels have been running at non sustainable long term rates.
650 to 670,000 head per week ( for approx 2 strait months now ) when actual cattle inventory data indicates that there are only 580 to 625,000 weekly cattle out there.
Keep in mind harvest last year ( 2009 ) ran at 570 to 615,000 per week during the same time frame.
2010 started with 4 to 5% LESS total cattle than 2009.
2010 started with 4 to 5% LESS total hogs than 09, too.
FI red meat production so far in 2010 is running 5% more than same time in 09.
Bout the end of Aug traditional fats will be off to the races so to speak.
There's a hole in forward supplies.
Most likely that hole starts seriously in Sept/Oct due to the fact the spin and the supposed experts have overpainted said time frame as being supposedly "over placed."
Fall 010 they'll take $20 cwt off cull cows which of course frees up the consolidated meat diametric for a $20 to $40 cwt move Up in traditional fats from end of Aug thru Dec 2010.
Over 40 to 50% of the high end is now exported.
The 3 packers feeding can basically supply that with what they personally have on feed ( bout 2.5 million head capacity )..
USA is living on hamburger.
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Cattle market
