Monday, April 20, 2015 12:21PM CDT
Beef is far from a loser in the daily race for buyers at meat counters across the country. It's not exactly the big winner either. Beef, after all, is not a sprinter when it comes to markets. It's more of a long distance competitor. To see where beef is headed, you have to look at the spreads.
July corn was 3 cents lower, July soybeans were 4 cents lower, and July Kansas City wheat was 3 cents lower.
The cattle complex seems set to begin on a mixed basis with contracts torn between follow-through selling and short covering. Lean hog contracts should also seem uneven price action in the early going as traders debate the inevitability of more constructive fundamentals.