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New Mexico | follows: CASH Fat cattle SW.
010 1st leg up: from 85 to $93 Jan 1 thru 1st week of Feb 010.
2nd leg: from 93 1st week of Feb to 98 1st week of March.
3rd leg: flat line high 100 thru 102 March 27th thru May 15th 010.
Then seasonal correction down to 90 end of May / 1st part of June 010.
Slow steady uptick Mid June thru year end to $107 cwt.
011 1st leg up to 109 10th of Jan 011.
2nd leg to 117 4rth week of Feb 011.
3rd leg to 123 3rd / 4rth week of March 011.
Steady downtick to seasonal low late May / 1st part of June @ 104.
Slow steady uptick June thru year end to 122.
012 1st leg to 124 mid Jan 012.
2nd leg to 129 thru Mid Feb..
IF 012 peaked the spring fling early, the seasonal low may be late April / 1st part of May.
If not, previous years cash indicates the 3rd leg seasonal spring high for 012 is in the conservative $135+ range and 2 to 3 weeks out yet.
Timing IS abnormal and perhaps favors a better total market for 012 now.
ALL due to the lftb issue.
There is a Blessing that follows every curse, and with beef that happens to be pent up demand NOW.
Consumption / econ timing is GREAT ( best ever really ) this year.
What happens that brings the cyclical lows on tradit fat cattle towards the 1st part of June is grind beef consumption goes up due to summer.
Thus the process end concentrates more dough on buying processing non feds and takes that off fat cattle to relative market degrees.
Hard to break old habits, my bet is the 3rd leg up does show up for Spring 012.
Still in the slow steady uptick cash camp here, doubt that will change.
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brads by laws, Brad previous tops, lows as
