Weather News & Cattle Futures ?

[Stocker Steve]

Futures are going wild with weather news from the Great Plains. Is it really bad, or are computers momentum trading?

 

[Stocker Steve]

Based on the responses - - I wrote a LRP premium check yesterday to put a fall calf price floor in at $892 per head. I even get paid for my labor at that price.

 

[J&D Cattle]

Yesterday Corbett Wall on his 3 minute market summary says this market is bullet proof, today he talks about the fastest gains on the board in recent times and how it is always followed by a train wreck. He dampened my optimism a bit.

 

[Caustic Burno]

Prices jumped here 6 dollars a hundred

 

[TennesseeTuxedo]

I was pleasantly surprised by yesterday's results where we sell.

United Producers Inc. , Owenton, KY
Weighted Average Report for Wednesday May 3, 2017

Cattle Receipts: 717 Last week: 688 Last year: 731

Compared to last week; Feeder steers sold 5.00-10.00, some up
to 12.00 higher, heifers 5.00-8.00 some up to 12.00 higher,
Slaughter cows and bulls steady.

Feeders: 627 Slaughter: 74 Replacements: 16

Slaughter cows made up 8 percent of the offering, slaughter bulls
2 percent, replacement cows 2 percent, and feeders 88 percent.
The feeder supply included 43 percent steers, 40 percent heifers,
and 17 percent bulls. Near 27 percent of the run weighed over 600 lbs.

 

[mncowboy]

Based on the responses - - I wrote a LRP premium check yesterday to put a fall calf price floor in at $892 per head. I even get paid for my labor at that price.

Nice work, I looked into it after reading your post, the day after they pushed limits to 6.75 on feeders and it was $41 a head. Hopefully it comes around again so I can do the same or buy a PUT for similar money.