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| I gotta admit the other day when the Feeders went limit down my finger almost hit the speed dial for the semis.
If nothing else, it should be taken as a warning. Now a limit day down is certainly to be expected after the long runup, but that's just the thing--- until now we just HAVE NOT seen those moves down....and we should have had MANY scares like that along the way. Cash just hasn't allowed the Board to have a breather or clean the stops out once in a while. So the longs keep building. Cash has led the board kicking and screaming like it had a nose pliers on the Board. Not only does cash have the Board by the short ones, it has it by the balls with hands the size of Paul Bunyan. After reading the below I thought about what Ahay (i think) was told by a guy he was sitting by.... something to the extent that the board doesn't matter. It's hard to take the other side of that argument RIGHT NOW. I suppose that statement will hold true until someday it DOESN'T. I don't believe I have ever heard of so many yearlings already contracted for fall delivery off grass.... so those won't be available this fall. It all makes me wonder. This is copy and pasted;
Earlier this month, the industry was buzzing about 800 lb steers breaking the 2.00/lb level. On Wednesday, two loads of top quality steers in Green City, MO averaged 920 lbs at 203.15. At the same time, in Kearney, NE over 600 head of 800-850 lb steers averaged 821 lbs at 213.14, not to mention the gooseneck load of little 239 lb steer calves that brought 925.00 per head. One can only wonder if these quotes wouldn’t have been even more impressive if the feeder board hadn’t been locked down the limit at the time. | |
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The board/cash disconnect.
