It was very interesting this past Friday, the inventory report estimates were at 103.3% but when the report first came out the actual was 102% but shortly after that they changed the actual to 104%.
Who knows maybe they said, “Oh no, we can’t do that this is supposed to be a negative report.” The placement figure was estimated at 105.5% and the actual showed to be 109%. That figure doesn’t look accurate if you figure what sold in the sale barns in Oklahoma and Kansas.
The marketing estimate was 96.6% with the actual at 97%. So, they called the report bearish. Naturally you might think the market would go down on Monday but it went up slightly and even higher on Tuesday. Does that mean most do not believe those reports or are they looking at receipts at the sale barn? Or is there another game going on?
I am told the Justice Department did find collusion in the chicken industry. My opinion is if they can’t find collusion in the cattle industry then they are trying not to find any.
One interesting comment at a meeting last week was when there was a shortage at last on the shelves at the grocery store for beef they said there was plenty of plant-based and imitation burgers available.
A man at our hometown walks into the local welfare office and marches straight up to the counter and says, “Hi, I hate drawing welfare I’d really rather have a job.” The clerk behind the welfare desk says, “Good. Your timing is perfect. We just got a job opening from a wealthy lady who wants a bodyguard and chauffeur. You will have to drive her Mercedes around but she will pay for all your whiskey. Meals will be provided and since she has lots of money you can always eat anything you want regardless of price. You will escort her overseas on holiday trips and your starting salary will be $100,000 a year.”
The guy said, “You must be kidding this sounds too good to be true.”
The welfare clerk said, “Yeah, you started it.”
Editor’s note: Jerry Nine, Woodward, Oklahoma, is a lifetime cattleman who grew up on his family’s ranch near Slapout, Oklahoma.
