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.