|
| The numbers, according to my models, looking at individual states & feed usage, will not justify buying into the "new crop bushels counted" of any significance. Lowered feed use re: fewer dairy cows (now soon to increase), slightly fewer poultry in a couple of areas & a different pattern of "cattle into feedlots" feeding better fits the profile of the affected states.
The past few years USDA typically underestimates export demand & has overestimated feed demand & gradually makes adjustments as the marketing year closes.
Therefore the issues in my mind: the quality of existing On Farm stocks & a closer look at sept/nov quarter grain consuming animal units.
This past month I have neglected my newsletter but will fire one out this weekend with the salient details & will update the open interest stuff on the website.
Due to the dementia of my aged mom, I am familiar with the typical questions asked by Psychs...Who is the President? What year is it? How old are you? What day is it? This past month, due to nearly non-stop trading hours & grabbing sleep when it fits....I have trouble with the "what day is it?" | |
|
Corn consumption
