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Posted 5/15/2019 12:09 (#7498533 - in reply to #7498360)
Subject: RE: Packers

all over Iowa

Could be, but most of the sell-off on the LC Futures have been based on technicals and not fundamentals which means there is definitely room for a rebound.

The June LC Futures (and deferred months) look a lot worse than cash cattle. On a 10 year average, we will lose about $30 from a spring high to a summer low. This years prices (in black) have actually only fallen off half as much as last years prices so far, and we had a higher spring peak this year so the summer lows could very well be not as low as last summer.

(June Futures 051518 (full).JPG)

(Fed Steers (full).jpeg)

Attachments June Futures 051518 (full).JPG (73KB - 2 downloads)
Attachments Fed Steers (full).jpeg (58KB - 3 downloads)
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