wmeubank@ocp.kcmo.com
ALLENDALE, INC.
4506 Prime Parkway, McHenry, Virginia
(December 5, 1997) CATTLE: Did I hear someone say bullish news? Weather concerns, retail buying, and some packers short on supplies, may lift our spirits and our add weight to the wallet. Forecasters are predicting a possibility of rain which may turn to snow for the Plains states. Too many possibilities for my taste but we'll take what we can get. USDA estimated slaughter at 135,000 versus 136,000 from last year and Saturday slaughter at 18,000 versus 44,000 last year. Boxed beef rose .43 to .99 for all categories. Ireland joined Britain's party and banned beef on the bone Friday. Higher futures for continued their short-term up trend. Feeders are downright convinced they're bullish and have a nice up trending channel working. Nearby's rose .32 to .52 on its strength.
Rich Nelson
Hogs
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Cattle
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