June Fat Cattle

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The past two years in a row show the cash market turning south from approximately the last week of March to the first week of April all the way to June and then further at times. This year the cash market has lingered around a little longer as we now enter the 3rd week of April. This, coupled with the wide basis between June cattle and cash, leads me to anticipate an attempt at a new contract high for the June contract. While many will be looking for a race to $80.00 by the June contract, it's just not likely to happen. The June contract is historically a poor month for cattle futures. This year is more likely than not, no exception. So, if you have cattle to be marketed against the June board, you may want to consider hedging them up on an attempt at a new contract high above $73.00. My target for this new high is merely $73.30, so there is not a great deal of room to work with. To keep up with these market commentaries daily, please feel free to visit <A HREF="http://www.shootinthebull.com" TARGET="_blank">www.shootinthebull.com</A> . If you have any questions, do not hesitate to contact me.

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