wmeubank@ocp.kcmo.com
THE WINDY CITY TRADER
P.O. Box 1673, Chicago, Illinois
(December 2, 1997) CATTLE: We normally see a strong rally in cattle and hogs during late November through December. This sounds like a broken record but the Asia problems have probably affected these markets more than any others. It has only been during the last 5 years that many of these cultures (Japan, in particular) have been larger consumers of beef and pork. This will be the easiest product to cut back on during tough economic times. We've already seen this to date as exports of pork and beef to the region have virtually dried up. Also, the U.S. feedlots are loaded with cattle ready to come to market. When all this product hits, the bottom could fall out of live cattle. We are very close to short sale in February live cattle.
Stephen Connell and William Frejlich
Hogs
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Cattle
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