Cattle feeders holding hedged cattle are finding a strong negative basis of $5 to $7 per cwt., compared with the positive basis of $3 to $5 last July.
Australia on Friday approved the A$386.5 million ($288 million) sale of the country's largest private land holder S. Kidman & Co to a consortium led by the country's richest woman Gina Rinehart, after blocking two previ
Last week’s $8.50 rally in the cash market was sorely needed, but closeouts remain $29.65 per cwt. short of break even.
Wheat carry also trimmed vs. March
Cattle feeding margins improved by 50% over the past two weeks, and by 38% during the past week.
Cash fed cattle prices have declined $7 over the last two weeks.
Beef exports strong to Korea and Taiwan, but most markets lower year-over-year.
Meaningful change isn’t accomplished overnight. More often, it happens slowly by chipping away piece by piece until something new suddenly takes shape.