Futures down, what effect today?

[stocky]

I was curious about the effect on prices at the sales barns today after the feeder futures were down the limit the last 2 days and no one knows how they will open next week. I watched or checked on 4 sales in our area, today. 3 regular sales and one special cow sale. The prices were all good, no noticeable effect on prices. The special cow sale was very high. So, either people around here did not know the futures were down or they don't think it will matter. The big meat product Russia will not import from us is chicken. Since we are now sending so much chicken to China to be processed and then shipping it back here to sell retail, how long will it be before they start to send more ships of chicken to China, transfer it to a Chinese ship, then ship it to Russia as Chinese chicken? They said Tyson's says they already have markets to absorb the extra chicken, wonder if that is one of those markets?

 

[Bigfoot]

I was curious about the effect on prices at the sales barns today after the feeder futures were down the limit the last 2 days and no one knows how they will open next week. I watched or checked on 4 sales in our area, today. 3 regular sales and one special cow sale. The prices were all good, no noticeable effect on prices. The special cow sale was very high. So, either people around here did not know the futures were down or they don't think it will matter. The big meat product Russia will not import from us is chicken. Since we are now sending so much chicken to China to be processed and then shipping it back here to sell retail, how long will it be before they start to send more ships of chicken to China, transfer it to a Chinese ship, then ship it to Russia as Chinese chicken? They said Tyson's says they already have markets to absorb the extra chicken, wonder if that is one of those markets?

I think it's just a ripple affect. Can't do much with the low cow numbers out there.

 

[kenny thomas]

Only 1 market report from this area has been posted so far. It showed steer calves 10-20 lower and heifers 8-14 lower. That was Greenville TN

 

[stocky]

Kenny, those were the types of numbers I was expecting to see today, but did not happen. Cow-calf pairs up to 3500, with 2800-3000 being common, springers 2200-2700, even 1st periods in the 2100 range. Those have been the numbers I have been seeing the last few weeks, and was the same tonight. The other sales, calves were pretty steady with some sky high numbers. I was surprised. Even 475-550 wt holstein steers were 2.01-2.09 per pound at one sale, which was up from last week at that sale. It will be interesting Monday what happens on the futures board and at the bigger sales. The sales on Saturdays are not the bigger sales. Two of them had about 250-300 head, one had about 8 hundred and the special cow sale had about 500 head. Mondays and Wednesdays, are big sale days around here, with Thursday not far behind.

 

[BC]

I went to a Friday and Saturday sale. I was expecting calves to be a good deal cheaper, but was surprised to see little effect. I sold a 700 lb bull calf that brought $201/cwt.

It is all speculation. The paper traders can only make money if the futures are moving. Here in East Texas we never get offers anywhere close to the board on yearlings.