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New Mexico | Going into Thursday's report short is likely NOT a good idea.
I think ALL the news this week still basically focuses on wheat.
Markets will all be higher ( should be in for a 7 week run UP....higher markets every week, most every agri segment...Wheat of course the leader, followed more closely by beans, corn a long long long ways back ).
Meats will start their noticable run Up moreso when the heat breaks ( cattle and hogs will Both set new record high plateaus thru year end ).
Might only be $10 per cwt, might be $25 to $40 cwt Ups too.
Much Higher chances btw, of the $25 to $40 cwt Ups, than the mere $10 cwt.
Russia deal is going to require ALOT more imported poultry now.
USA btw, IS thee country who is now pretty much the exclusive supplier of that need.
Summer seasonal LOWS actually went in on both cattle and hogs last week of July.
Cattle historically move approx $5 cwt CASH Up, off the summer low thru 1st part of Oct.
One thing that is helping agri:
Plenty of deflation talk now on Wall Street ( due to earnings not as good as folks perhaps expected, on MOST cos ).
Couple the afore to now plenty of media showing the ongoing weather catastrophe in Russia, AND Money generally goes somewhere...best use, best cause, potential highest returns etc.
THAT happens to be usa agri for a short time now,
Granted it's AU is who is likely to secure the major long term beneficial play though ( several reasons...market honesty towards the top of the list btw )
Folks in Russia probably thanking God August only comes around on occaision, also Praying to God August ends ASAP.
Russia's worst wrecks have historically almost ALWAYS been in flipping August.
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markwright tell us again
