Monday, June 09, 2008

Livestock Report

Have to admit - I'm a bit frustrated with the weakness in the meats, especially in the face of this grains rally. Doesn't seem to make much sense, and I can't see a scenario where meat prices are not higher in 6-12 months.

This livestock report helped calm me down - it looks like farmers are still slaughtering livestock ahead of schedule, since it's not worth feeding them at these high prices. If that's the case, this pullback represents a fantastic buying opportunity.

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