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Cash Live Cattle is holding its uptrend as we enter the end of the week with range also holding from $137 to $151. For Strategy 2 hedges buy puts over selling futures to protect the uptrend.
- CWG Weather Highlights:
- Past 24 hour rains…negligible, but few around Great Lakes;
- “6-10 Day Rains Narrow Short-Term Midwest Stress”….these rains are going to be crucial;
- A few rains in SW Midwest start Friday through weekend….best rains in Midwest next week and again, rains are going to be very important after a drier week when stress expanding to 40% of US corn/soy acres….currently, next week’s rains expected to narrow the stress to 20%;