{"id":2160,"date":"2017-06-19T06:55:18","date_gmt":"2017-06-19T12:55:18","guid":{"rendered":"http:\/\/www.ctsfutures.com\/?p=2160"},"modified":"2017-06-19T06:56:07","modified_gmt":"2017-06-19T12:56:07","slug":"morning-thoughts-2017-06-19","status":"publish","type":"post","link":"https:\/\/udg.ehs.mybluehost.me\/morning-thoughts-2017-06-19\/","title":{"rendered":"Morning Thoughts – June 19"},"content":{"rendered":"

<\/a>Livestock<\/u><\/strong> –
\nEarly releases of expectations for Friday\u2019s COF report are leaning bearish at this point.\u00a0 Most estimates for placements I\u2019ve seen suggest they could be 6-12% higher YOY.<\/p>\n

Beef prices were weaker last week but remain pretty firm overall.\u00a0 Obviously we saw weaker than expected cash trade last week, with some estimates of the weighted average price near 127.\u00a0 This adds up to some especially rosy packer margin estimates, which means the recent kill rates really shouldn\u2019t slow down as long as they\u2019re making this much money.\u00a0 We heard rumors that one or maybe two packers were completely out of the market late last week, refusing to offer on cattle.\u00a0 I can\u2019t confirm if this is true or not, but with these sorts of spot packer margins (on paper) you\u2019d have to think they\u2019re not very constructive on future beef demand if they\u2019re sitting out the market.\u00a0 Look for this week\u2019s cattle showlist to be larger than last week as volume was less than impressive overall (perhaps lending support to rumor of packers being out of the market?).<\/p>\n

\"HedgersEdge<\/p>\n

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