Cautiously Marking Time

By Cassie Fish, via The Beef Read

A Handbook for Ranch ManagersCME  cattle futures are chopping quietly, posting an inside day so far, waiting for the cash fed cattle trade to get fully underway. Though packers have bid steady to higher in many spots this week, they have been unable to jar any cattle loose as cattle feeders continue to hold out

Planned Grazing: A Study Guide and Reference Manual CMEChoice boxes which printed lower yesterday are still higher on the week but thus far feel a bit sluggish. Wish no oomph from the beef demand side as of yet, packers are less incentivized to get aggressive on paying up big again this week for cattle after doing so last week. Of course, even light Environmental & Natural Resource Economics: The Austrian Viewfed production schedules need to be supplied and packers don’t own enough cattle without competing this week to get next week’s kill filled.

Cattle futures continue to refuse to anticipate better cattle news influenced in part by the woes of global commodity prices are being lamented by CNBC to Bloomberg to every market analyst from London to Shanghai. Some commodities are at 6 year lows and fears about the Asian economy, particularly the powerhouse China are growing, not lessening.

The Essence of Liberty: Volume I: Liberty and History: The Rise and Fall of the Noble Experiment with Constitutionally Limited Government (Liberty and ... Limited Government) (Volume 1)  The Essence of Liberty: Volume II: The Economics of Liberty (Volume 2) The Essence of Liberty: Volume III: A Universal Philosophy of Political Economy (Liberty: A Universal Political Ethic) (Volume 3)Still, tight supplies still count for something in the real world and even as companies keep adjusting for more beef supply contraction and attempting to manage margins, the challenge is great. Knowing something is different than making decisions on how to survive and even prosper.

Combat Shooter's Handbook Reconnaissance Marine MCI 03.32f: Marine Corps Institute The Betrayed: On Warriors, Cowboys and Other MisfitsWhether a cattle feeder determining what to pay for scarce replacements when the live cattle futures market offers a bleak outlook or a packer faced with shortages in every region, the doom and gloom commodity environment, strong U.S. dollar and global economic weakness is making a difficult situation even tougher.

Cattle futures have zero risk premium priced. Cattle feeders are worried futures might break and packers and end users pray it does. It is truly remarkable that fourth quarter futures prices are priced $10-12 short of even an average seasonal rally, let alone an above-average one. This when the supply outlook is unprecedentedly bullish. Instead futures want to take the “show me” route leaving it up to price discovery in the cash market to show the way.

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The Beef is published by Consolidated Beef Producers…for more info click here.
Disclaimer:  The Beef, CBP nor Cassie Fish shall not be liable for decisions or actions taken based on the data/information/opinions.


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A Handbook for Ranch ManagersA Handbook for Ranch Managers.  In keeping with the “holistic” idea that the land, the livestock, the people and the money should be viewed as a single integrated whole: Part I deals with the management of the natural resources. Part II covers livestock production and Part III deals with the people and the money. Not only would this book make an excellent basic text for a university program in Ranch Management, no professional ranch manager’s reference bookshelf should be without it. It is a comprehensive reference manual for managing the working ranch. The information in the appendices and extensive bibliography alone is worth the price of the book.

You might be interested in this books supplement: Planned Grazing: A Study Guide and Reference Manual.



About Land & Livestock Interntional, Inc.

Land and Livestock International, Inc. is a leading agribusiness management firm providing a complete line of services to the range livestock industry. We believe that private property is the foundation of America. Private property and free markets go hand in hand—without property there is no freedom. We also believe that free markets, not government intervention, hold the key to natural resource conservation and environmental preservation. No government bureaucrat can (or will) understand and treat the land with as much respect as its owner. The bureaucrat simply does not have the same motives as does the owner of a capital interest in the property. Our specialty is the working livestock ranch simply because there are so many very good reasons for owning such a property. We provide educational, management and consulting services with a focus on ecologically and financially sustainable land management that will enhance natural processes (water and mineral cycles, energy flow and community dynamics) while enhancing profits and steadily building wealth.
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