June 2, 2000
MARKETING
By Bryce Myrick
Director, TFB Agricultural Marketing Education
Weather is going to
be a major factor in commodity market prices for the next 45-60 days. If it
stays dry in West Texas, look for cotton prices to move up. Dry conditions
in the Corn Belt will cause corn and bean prices to increase. However, if
these areas get good moisture in June and July, watch the prices come down.
Do not get greedy and lose the opportunity to market your commodities at good
prices.
We will be having a marketing meeting Tuesday, June 13 in Victoria to discuss
cattle and cotton. Industry leaders will have Question and Answer Sessions
to discuss such topics as “World Cotton Outlook for 2000”; “Ag Marketing From
A Banker’s Perspective”; and “Ways to Market Your Cattle.”
If you need more information on our meeting or any help with marketing, please
give us a call.
To set up workshops or for help with your hedging needs, call 254-751-2242 or 915-698-0355 or e-mail: bbmyrick@swconnect.com.
Corn - December
Fundamentals: Weather in the Corn Belt will move the futures prices in the
next 45 days.
Technical Analysis: Trend—Sideways/Resistance—2.63/Support—2.50
Soybeans - November
Fundamentals: Weather in the Corn Belt will move the futures prices in the
next 45 days.
Technical Analysis: Trend-Up/Resistance-5.80/Support-5.15
Feeder Cattle - September
Fundamentals: Higher price corn and large numbers of fat cattle coming out
of yard.
Technical Analysis: Trend—Down/Resistance—87.00/Support—None—Short-term
Cotton - December
Fundamentals: Dry in West Texas—Higher World Prices.
Technical Analysis: Looks to be more downside risk than upside potential.
Trend—Up/Resistance—None/Support—57.50
