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Texas
Agriculture Archive
October 18, 2002
MARKETINGBy Bryce Myrick
Director, TFB Agricultural Marketing Education
As President Bush uses the Taft-Hartley Act to reopen ports after a ten-day shutdown, what effects has it had on agricultural products? We know that a lot of produce has been lost and some major grain sales to Pacific Rim countries have gone to our competitors. One question that remains unanswered is the status of export beef. Trucks loaded with boxed beef from the major packers in the Plains states are parked at the West Coast ports. Will shipping companies take the beef or turn it back?
As you know, everything that affects packers ultimately affects beef producers. This is just one of many reasons we have $66 Fat Cattle. One thing is for sure, if the price of Fat Cattle does not start to rally going into the winter and spring, the price of stockers and feeders will come down. Add in the price of corn, nearly a dollar a bushel higher, and we may be looking at depressed prices in the spring.
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.DECEMBER - CORN
Fundamentals: Planting time in Brazil
Technical Analysis: Trend - Up / Resistance - $2.92 / Support
- $2.48
DECEMBER - COTTON
Fundamentals: Potential for good yields in United
States
Technical Analysis: Trend - Down / Resistance - 45.70 / Support
- 39.65
APRIL - FEEDER CATTLE
Fundamentals: $4.00 below October's feeder price
Technical Analysis: Trend - Up / Resistance - 78.50 / Support
- 75.10
APRIL - LIVE CATTLE
Fundamentals: $5.00 TO $6.00 above current cash
price
Technical Analysis: Trend - Up / Resistance - 73.60 / Support
- 71.50
