Q500 - 4/19/2021 18:00
When feed gets out of control high the packers loose their grip. Look back at the big uptick in cattle prices in the past and its always preceded by huge feed prices. Remember 2014 the packers where bidding what boxed beef was "trading" for as hanging price. Also keep in mind their break even is making $150/hd on by products. As far as I can tell the row crop guys are going to make out like bandits for the foreseeable future. Cattle will follow. Hell all food and AG in general looks promising at this point.