NEWS
The Market's Fine Print
John Harrington DTN Livestock Analyst
Thu Jan 31, 2013 11:02 AM CST

Since I intend to focus on the specific meaning and implications of a government report not yet in lockup, perhaps it first makes sense to issue a general disclaimer:

"I, John Harrington, being of reasonably sound mind for a market analyst, hereby swear that the following guesswork is based on nothing more substantial than a poorly kept spreadsheet known to crash and my own gut feeling regarding cattle numbers.

"Any eventual similarity between the following private estimates and official totals contained in the USDA's Cattle Report has more to do with dumb luck than any inappropriate foreknowledge of actual survey ...

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