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New Mexico | is that no one will seriously place cattle for that obvious loss.
Sure they'll likely put in a floor ( buy a ridiculous cheap put...then let it expire ).
The afore scenario is what keeps real cash cattle pulled forward ( thus lighter harvest weights...thus alot less tonnage ) and trending higher cash market.
One factor to higher cattle is that hide and offal value is approx $11 cwt. Last year that was only $5.50 cwt.
Bottom line is that China / India etc is making lots of cars....so there's a demand for leather.
Expect hide and offal to move up another $6 cwt. Approx another $72 per head up in the works on just that.
Edited by Markwright 4/9/2010 17:21
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cattle market
