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Ridgway, IL | 107 traded in co, ks, and ne. No trade in tx that I heard. Texas seems to be fighting the market harder than the north. 168-70 Ia is right in line with the live trade.
That's down 3 $ live from last week, I wouldn't be surprised to see more trade this week down to 105.
Look at the carry from oct to April. Has went from 4$, to 6$ in a week. Basis is getting softer too.
If your shorts are hedges, I think buying a put today, at the strike you want to cover at later would be a smart investment.
In other words, if you want to cover at 100oct, buy a 99c strike put today for a buck, that way you have the confidence to reown. It would suck to reown your hedges at 1$ then watch the market puke to 85... just saying the put will look cheap if this thing really does fall apart.
Obviously the market will have a softer tone tomorrow, but I don't see us locking limit down or anything. This thing is pretty orderly. Feeders are trying to keep them sold, it's just getting pinched.
Did anyone watch the superior auction today? I had trouble viewing. There were to be a pile of yearlings sell I thought | |
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Meltdown in cash Fat Cattle
