|
New Mexico | past week or so has bounced.
Since rumors can be rumors just stayed quiet here on it.
This could be a fair sized domino so to speak.
They are thee volume buyer of video sale cattle in the usa.
Granted the largest video deal is actually owned by the Farm Credit System ( Agri Credit, I believe, in CA ), so when they have to make it right for those cattle, there's Fed wire access.
Thus even if Eastern fails, the country cattle should still get paid for.
Also means that there's a bunch of country cattle which were videoed that may likely NOT go to the contracted buyer. ( likely in the nieghborhood of $50 to 100 million of forwrd cattle which now need resold to solvent buyers ).
That's OK. Supplies of feeder cattle ( ALL cattle actually ) are tight.
Runs have dwindled in most of the West, South and Southwest so some increased local action at local auctions is a good thing.
| |
|
|
Indiana Cattle Broker bouncing checks
