Varilek’s Cattle Call: Call your politicians
There was a small uptick in cash cattle trade last week with a few more yards able to trade at $122 live and others taking $192 dressed. The north is far from cleaned up, but any small movement of fed cattle is welcomed. The October futures will enter the delivery process next week to see how desperate some are to move cattle. With October futures just above $120, it might become a way for yards to dump cattle that fit the specifications for delivery.
The cattle on the showlist being pushed back by the packers will start to fill the small hole toward the end of the year with December futures still carrying a near $5.00 premium. Many of the bids received are for the last week of October and the beginning of November already. If you are interested in selling market ready cattle, it is hard work. The frustration for the small family yards is mounting pushing some to reevaluate business operations.
There is a lot of government buzz as some cattle organizations are busily working to get a revised cash negotiation bill to Washington D.C. The current Livestock Mandatory Price reporting policy has been extended to December 1, so it is of the utmost importance to try get some fixes done by then. It is a great time to call your politicians for help fixing now while we have some attention.
With a lot of tough news for the cattle industry lately, I have been challenged to share some good news for a change. I happen to hold the greatest news you could ever hear. Jesus Christ is our Lord and Savior, and God is still in charge. We can take comfort in that when we are feeling down. He always has been and always will be the “I AM.” Have a great week and God Bless.
Scott Varilek, Kooima Kooima Varilek Trading
The risk of loss when trading futures and options is substantial. Each investor must consider whether this is a suitable investment. Past performance is not indicative of future results.
Start a dialogue, stay on topic and be civil.
If you don't follow the rules, your comment may be deleted.
User Legend: Moderator Trusted User
“Table Talk – Food and Climate Conversations” is the theme for the 104th Annual South Dakota Farm Bureau (SDFB) Convention, Nov. 19-20, 2021 at the Best Western Plus Ramkota Hotel, Sioux Falls, S.D. Registration for…