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New Mexico | The Comp Beef cutout is Now in record territory.
Last 7 weeks have been above the $150 level, Export sales up 85 to almost 90% over 09 ( 09 btw, was one of our record export years too ), AND domestic volume up say 8% too.
Beef expenditures for last week...right at $544,000,000....another record.
Alot of the supposed expert beef market spin has ignored the afore and concentrated talk around supposed slow wholesale beef demand, hot weather, rainy weather, etc, etc, etc.... that is ALL horse pockey and lies though when one reviews TRUE sales data and True volumes moving.
ALOT of cattle were pulled forward in the afore, and forward contract volumes have been very High ( 130 to 150% more than 09 ).
That means there is NO supposed wall of cattle anywhere foreseable.
Also means the spare cattle ( non forward contracted ) are visually almost non existent...thus this is a SELLER's market, not a buyers market.
This deal goin higher....that simple, JNYP ( Just Name Your Price ) .
Expect a few of those $2 to $5 CASH Up weeks in a row starting NOW.
Edited by Markwright 7/24/2010 16:19
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Expect some Pretty Decent UPs in cattle
