Energies / Bio-Diesel Prices Break

[Old Cowzilla]

Commodity markets have made a fool of me many times.

I sure didn’t see the strength of the cattle market rally this spring. But markets are always right, not analysts. Also, thought the top of equities was at the start of 2017. That was a good one. Mind you, a huge dose of central bank manipulation has been the story.

We all have the right to opinions, right, wrong or centre. Keep those opinions coming. That is what makes a market.

One thing for sure, I’ll make a doozy wrong prediction sometime soon . . . .

Cattle market scares me now looking for missing bridge down the rail lines !!!

[errolanderson]

Packers appear still short-bought. Box beef has been on a tear, but beef processing margins now well down.

Summer beef buying typically slows down as beef sales finally covered. But price of fed steers have jumped 20 cents/lb over the past two months adding about $300 per head. Drought sending cull cows of lower quality to town. Cow prices off 1 to 2 cents over past week.

Current corn rally may be rough on feeder cattle futures. Weather season, here we come . . . .