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| agree Jpartner. In fact from at least one technical indicator we are way overbought (Bolinger Bands). However the people that have been taking a shot at the short side keep getting their head handed
to them. If cattle can just maintain there current price for a couple more weeks it looks to me like we have a launching pad up into the vacuum up above. Quite the fundamentals at work here also with
cattle numbers low but limited disposable income from the consumer. I have one hand doing chores and the other hand on the mouse ready to hedge and am nervous as a whore in church! I should be enjoying this more than I
am. Guess it's because I am a product of the 80s! Thanks for the heads up JPartner. Enjoy and appreciate yours, blus, maydel, maize's posts as well as many others my feeble mind can remember. FWIW
this market price action reminds me very much of the 78 to 79 run where we broke up into uncharted territory. Bankers were NOT on board (as usual) and by the time they did( in the April May period) the easy
money was gone. 4 and 5cwt calves during that stretch (im going from memory here) went from the low, low 60s the first week of November to 1.10 by May first (grass time). Good luck to all and believe me
the cattleman deserves every darn bit of this run, especially the ones that have been in it for a long time. | |
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Nose bleed territory in cattle?
