Western Ag Reporter Podcast
Western Ag Reporter Podcast
A Look Into the Markets - Cattle Markets Crash as the Rumor Mill Creates Havoc
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Written Friday, January 16 The cattle markets succumbed to the rumor mill as prices opened at the highs and crashed as talk of the New World Screwworm appearing in Texas sent prices crashing as traders wanted out of long positions in front of the upcoming three-day holiday. The USDA never confirmed the story and the story changed somewhat during the session. The Commissioner of Texas’ Agriculture gave a speech on television stating that it was inevitable that the screwworm would appear in Texas. In my opinion, if this is true (I haven’t seen the speech), his talk was all about...