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  • 3 weeks later...
Posted

With all the political stuff futures have been a mess with 4 limit lower moves in 7 sessions in feeders includes expanded limit lower today to put us about 10% lower in that time frame. Meanwhile boxed beef is up about 3%

Posted

As someone who has family in the beef/ranching industry but lives in a city its pretty simple. The high plains (where alot of cattle are raised and fed at feedlots) went through a really bad drought for a couple of years. Ranchers didn't have enough grass/feed to keep their cattle fed through the winter so they sold alot of them off because they couldn't feed them

Decreased supply sent prices through the roof and now all the ranchers are selling their cows at high prices now instead of holding them back to rebuild their herds because prices are so high. If this was chicken or hogs it could correct itself pretty quickly due to gestation cycles but cows give birth once a year, do you hold your heifers back thinking prices will go even higher than now or sell them at the highest price you have ever seen? 

  • Hook 'Em 1
Posted

Side story - My dad grew up on a farm on the high plains before moving to the big city after college. We now have part of that farm and he is retired, he spends a lot of time out there and decided to buy 3 feeders at the local sale barn to put in one of our pens with about 40 acres of grass and water. The TLDR is 2 got sick, he called the vet out and got them shots, one died and the other 2 escaped when he went back to his big city home and he had to drive back to collect them. 

The whole experiment lasted less than a month before he took them back to the sale barn and sold them. 

  • Hook 'Em 2
Posted
8 hours ago, Royalfan5 said:

With all the political stuff futures have been a mess with 4 limit lower moves in 7 sessions in feeders includes expanded limit lower today to put us about 10% lower in that time frame. Meanwhile boxed beef is up about 3%

My rain insurance guy is meeting with me Thursday. I still have my calves. Of course I held onto them after the peak. I will probably listen a little closer to his LRP pitch this time. 

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