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Yikes! Cattle Board Plunge

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    Yikes! Cattle Board Plunge

    Both live and feeder cattle took an
    enormous hit late morning. This appears
    to be funds 'getting out of dodge now'.
    This has a nasty tone to it which might
    spread into other commodities.

    Fundamentals for cattle have certainly
    soften. IMO, China appears well supplied
    with pork and exporting and our North
    American beef exports appear slowing
    while consumers resist higher retail
    prices. Also, feedlot currentness may be
    slipping.

    Hopefully, cattle will rebound tomorrow,
    but this washout may be doing technical
    damage.

    Errol

    #2
    Reuters reporting . . . talk of California
    BSE . . . no details yet. Several months
    locked $3/cwt limit down now.

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      #3
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