LIVESTOCK NEWS
Harrington's Sort & Cull
John Harrington DTN Livestock Analyst
Fri Sep 6, 2013 03:48 PM CDT

The story of basis is always rich with details about assumed supply and demand. You can always get a great reading of trading expectations by clocking the difference between the reality of spot cash and the premium or discount of deferred futures.

Of course, that doesn't mean that said expectations are right or unchangeable. Just consider the recent rags-to-riches performance of October lean futures and the surging early fall basis.

On June 20, the October board trailed the cash lean index by no less than $18.78. While sinking anticipation from summer high to fall low is par for the market ...

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