Cargill: Texas Cattle Plant to close

[errolanderson]

apparently, Cargill is closing a Texas
cattle processing plant due to drought
shrinking cattle supply. This caused live
and feeders to drop near limit this
morning. Lot of emotion in this market
right now.

[BTO_farmall]

I've Seen Enough of These BullShit Ag Markets!!!!!!!!!!!! So a Cow Plant idles Because, Well Lets Face it, Ain't No F#ckin Cows Left in The Country, So The Price Drops, BUT an Oil Refinery Blows up, er a Fertilizer Plant Moth Balls Production, And Prices Go Up!!!!!!!!!!!! Ain't That Somethin?????????????????????????????????????????? ??????????????????????????????

[errolanderson]

BTO . . . believe that this futures reaction is an overreaction. But too manys longs in the market can trigger excessive selling and price swings. Hopefully, cattle futures will calm down tomorrow and we'll see a modest recovery.

Looks like U.S. cash cattle bids may be down possibly the next 1 to 2 weeks. Apparently American packers are drawing on contract cattle right now. Hopefully, Cdn bids won't be affected too much.

My fear is another possible springtime surge in the loonie should international investors start to run to our dollar.

[ALLFARMER]

Ya cattle futures took a massive dive.

But people still have to eat and beef is yummy.

Soon we'll hear beef is going to be like pork and in
short supply. Maybe then McDonald's will start
producing beef in a vat.