Posted 4/7/2021 07:36 (#8937598 - in reply to #8937553) Subject: RE: Spikes..........FEB. Live again
FONZIE - 4/7/2021 07:09
Or anyone else. You have been right on with this live cattle thingy.
What are the charts looking like at this point? Well above 1.27 in Feb 2022..... Can we keep going? Hear some wild no's. out there!!!! Thoughts and opinions? Targets goals? Will summer seasonals set us back the usual 10 to 15 dolla or do we run counter seasonal ? Just seems like this live market is just getting going.
With the crap storm we have been threw I don’t think charts of the past will predict the future.
Some things to consider.
High corn prices will take pounds off fed cattle.
How many light cattle will get pushed back to feed a cheaper new crop corm? How many bigger cattle will get pushed hard to feed less corn? Will drought cows put extra beef on the market?
If carcass weights drop buy 20 lb how many less cattle is that equivalent to?
Will the run up I’m pork change consumers meet choices.
I believe the next high will come in the February- April of 2023. $1.50-$1.60 range.
Less cows because of drought and people sick of cheap calves.
With high price corn $1.30 fat cattle doesn’t make the 500 lb baller worth any more then cheap corn and $1.15 fats.