Thursday, March 1, 2012

What's Mooving: Cattle Prices at Hghest Levels Ever

Last I saw, 130.425 up .675.
From Reuters (Africa):

CME Globex cattle stampede to all-time high
LIVE CATTLE - At 8:35 a.m. CST (1435 GMT), April  
up 0.275 cent per lb at 130.025 cents and June up  
0.225 cent at 127.425 cents.   
    * Cash cattle so far traded at mostly $128 per cwt, which was down $1 in
Texas and Kansas but up $1 in Nebraska. 
    * The showlists, the number of cattle available for sale, were up in the
southern Plains while down slightly in Nebraska, an analyst said. 
    * Bullish traders contend the early-week sale of cattle signals packers are
gearing up for spring grilling features by retailers. 
    * Profit-taking and disappointing weekly export news tempered market
    * USDA's weekly export beef sales data showed net sales at 13,200 tonnes,
mostly to South Korea, compared with 28,600 a week ago.  

Here are Kourtney, Khloé and Kim discussing substitution effects: