Ag trade ideas

TraD: Maybe I am not understanding what you are asking. For example, last week cattle traded in Kansas for $161.50. You might see a $1 to $2 difference in other areas, but not a $100 dollar difference. There is also the price of the cutout, which is somewhere around $250. That is essentially the carcass once the animal has been slaughtered, so those prices move differently. That may be what you are seeing. Let me know if that helps.

 

Here is an excerpt from DTN news feed I receive :
"Asking prices are undeveloped but likely to start near $163
and higher in the South and $262 and higher in the North"
???

 

That must be a typo or they are referring to feeder, no way there is a $100 difference. If so I will be driving to the sale barn immediately to load up with some cows to drive up north LOL.

Google a state and then cattle sale barn prices. You should be able to find data on their recent auctions. Here is a link for TN. Not all of them detail weight with the price (just total price), but most should I believe.

http://www.tn.gov/agriculture/marketing/cattlesales6.shtml here is TN
http://www.cattle.com/Markets/barn_report.aspx?code=NV_LS144

I have only skimmed this report, but you might find it beneficial for looking at several states. As of 3/6/15:

http://www.ams.usda.gov/mnreports/sj_ls850.txt

In other products, that ZM spread is doing nice today!

Edit (this is like my 20th edit to this post), I just checked that posting you referenced and have seen them do that multiple times. Every mention of North/South there seems to be a significant difference between the two. SO I have no clue to be honest.

 

Yeah, that is definitely a typo.

 

Ok last post on this lol, couldn't figure out wtf the deal was but I think this explains it..

"What’s left of the cash cattle market has traded lower this week at $160 in the south with the north at $255-258 dressed before today" so for whatever reason they just say north (probably the location of most slaughterhouses), but that price is for dressed meat.

 

Yeah. That's what I was thinking but I didn't want to sound stupid.

 

Yeah, I briefly got very excited thinking I was about to rent a semi and livestock trailer and start driving cows up north haha

 

Ok, so it was the cutout price. It was hard to discern that from the language used in the news bit.

 

Any thoughts before the WASDE report this morning?

 

I have no idea, I just hope it is positive news for this soymeal spread haha. That is all I am in currently in the ags.

Are you out of that wheat carry trade now?