Varilek抯 Cattle Call: Cattle Deliveries

 

Scott Varilek, Kooima Kooima Varilek Trading

via Carrie Stadheim, Tri-State Livestock News - Feb 12, 2021

 

We saw another excellent finish to the cattle futures trade last week with April live cattle closing above $125/cwt. It was not without hiccups that it was able to accomplish that. Southern feedyards delivered several contracts of cattle against the February board during the delivery process. The February futures were carrying a significant premium to cash prices, so it was a move to narrow up the out of line basis. After two days of heavy deliveries, the funds were back to there ways of running in with buy orders in my opinion. Friday抯 close showed another 55 deliveries that the futures will have to react to on Tuesday with the markets closed Monday...

 

... Keep a close eye on the carcass weights for singnals of feedyards becoming current. It does not appear to be soon but always seems to show up when nobody expects it...

 

more

https://www.tsln.com/opinion/varileks-cattle-call/varileks-cattle-call-cattle-deliveries/

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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