Gold and Silver • JP Morgan Eligible Gold Inventories Fall Another 14% Today
JP Morgan Eligible Gold Inventories Fall Another 14% Today
Filed in Precious Metals by SRSrocco on May 14, 2013
http://srsroccoreport.com/jp-morgan-eli … -14-today/
JP Morgan drops another 22,759 oz of gold (14%) from their Eligible Inventories. They now only have 137,377 oz available in their Eligible Category. Furthermore, 32,049 oz of gold were withdrawn from Scotia Mocatta’s Eligible inventories, now reducing the total gold in the Comex vaults below 8 million oz.
Statistics: Posted by DIGGER DAN — Thu May 16, 2013 5:17 am
View full post on opinions.caduceusx.com
Gold and Silver • THE GOLD REPORT INTERVIEWS WITH DAVID MORGAN
THE GOLD REPORT INTERVIEWS WITH DAVID MORGAN
http://www.theaureport.com/pub/video/5- … ilver.html
Statistics: Posted by DIGGER DAN — Sat May 11, 2013 3:46 am
View full post on opinions.caduceusx.com
The More Illegal Immigrants That Go On Food Stamps The More Money JP Morgan Makes
Recently uncovered documents prove that the Obama administration has been working with the Mexican government to increase the number of illegal immigrants on food stamps, and when more illegal immigrants go on food stamps JP Morgan makes more money. As you will read about below, JP Morgan has made at least 560 million dollars processing Electronic Benefits Transfer cards. Each month, JP Morgan makes between $.31 and $2.30 for every single person on food stamps (and that does not even include things like ATM fees, etc). So JP Morgan has a vested interest in seeing poverty grow and the number of people on food stamps increase. Meanwhile, the Obama administration has been aggressively seeking to expand participation in the food stamp program. Under Obama, the number of people on food stamps has grown from 32 million to more than 47 million. And even though poverty in America is absolutely exploding, that apparently is not good enough for the Obama administration. It has now come out that the U.S. Department of Agriculture has provided the Mexican government with literature that actively encourages illegal immigrants to enroll in food stamps. One flyer contains the following statement in Spanish: “You need not divulge information regarding your immigration status in seeking this benefit for your children.” The bold and the underlining are in the original document in case you were wondering. Overall, federal spending on food stamps increased from 18 billion dollars in 2000 to 85 billion dollars in 2012, and at this point one out of every five U.S. households in now enrolled in the food stamp program. When people illegally or fraudulently enroll in the food stamp program, it makes it harder for those that desperately need the help to be able to get it.
It is certainly a good thing to help fellow Americans that are suffering. It is a crying shame that more than a million public school students in America are homeless. That should not be happening in the “wealthiest nation on earth”.
But today we have a system that has turned poverty into big business. According to an article posted on Breitbart.com, JP Morgan has made at least 560 million dollars (and probably much more) processing EBT cards…
A new report by the Government Accountability Institute finds that JP Morgan has made at least $560,492,596 since 2004 processing the Electronic Benefits Transfer (EBT) cards of 18 of the 24 states it has under contract for the food stamp program.
A Daily Beast article provided some more specifics about the monster profits that JP Morgan is making…
Just how lucrative JP Morgan’s EBT state contracts are is hard to say, because total national data on EBT contracts are not reported. But thanks to a combination of public-records requests and contracts that are available online, here’s what we do know: 18 of the 24 states JP Morgan handles have been contracted to pay the bank up to $560,492,596.02 since 2004. Since 2007, Florida has been contracted to pay JP Morgan $90,351,202.22. Pennsylvania’s seven-year contract totaled $112,541,823.27. New York’s seven-year contract totaled $126,394,917.
These contracts are transactional contracts, meaning they are amendable based on changes in program participation. Each month, the three companies that administer EBT receive a small fee that can range from $.31 to $2.30 (or higher depending upon the number of welfare services on an EBT card and state contractual requirements) for each SNAP recipient.
So the more people that are out of work and that need to turn to the government for food, the bigger profits that JP Morgan makes.
What makes all of this even more insulting is that many of the jobs that JP Morgan could be providing to Americans to help alleviate this poverty are being shipped overseas instead. As I noted in a previous article, many EBT card customer service calls are being routed to call centers in India by JP Morgan.
So why doesn’t anyone do anything about this?
Well, it turns out that JP Morgan has the politicians that oversee the food stamp program in their back pocket. The following is from a recent Money Morning article…
And the bank has taken steps to make sure the SNAP program remains a growing source of revenue. JPMorgan’s political donations to the members of House and Senate agricultural committees, the ones with legislative responsibility for the program, soared from just over $82,000 in 2002 to nearly $333,000 as of 2010.
What a wonderful system we have, eh?
And surely JP Morgan just loves the fact that the Obama administration is actively encouraging illegal immigrants to apply for food stamps.
What you are about to read should absolutely shock you. At a time when the U.S. government is absolutely drowning in debt, the Obama administration is making it abundantly clear to illegal immigrants that their immigration status will not be checked when they apply for food stamps. The following is from a recent Judicial Watch press release…
Judicial Watch today released documents detailing how the U.S. Department of Agriculture (USDA) is working with the Mexican government to promote participation by illegal aliens in the U.S. food stamp program.
The promotion of the food stamp program, now known as “SNAP” (Supplemental Nutrition Assistance Program), includes a Spanish-language flyer provided to the Mexican Embassy by the USDA with a statement advising Mexicans in the U.S. that they do not need to declare their immigration status in order to receive financial assistance. Emphasized in bold and underlined, the statement reads, “You need not divulge information regarding your immigration status in seeking this benefit for your children.”
The documents came in response to a Freedom of Information Act (FOIA) request made to USDA on July 20, 2012. The FOIA request sought: “Any and all records of communication relating to the Supplemental Nutrition Assistance Program (SNAP) to Mexican Americans, Mexican nationals, and migrant communities, including but not limited to, communications with the Mexican government.”
The documents obtained by Judicial Watch show that USDA officials are working closely with their counterparts at the Mexican Embassy to widely broaden the SNAP program in the Mexican immigrant community, with no effort to restrict aid to, identify, or apprehend illegal immigrants who may be on the food stamp rolls.
You can see a copy of the flyer right here.
So who pays for all of this?
You do of course.
The Obama administration is doing all that it can to promote illegal immigration, and big banks such as JP Morgan just make bigger profits the more illegal immigration that we see, but it is you and I that end up with the bill. This was put beautifully in a recent article by Mike Adams of NaturalNews.com…
Nearly $75 billion of taxpayer money is spent each year on federal food stamps, and it turns out some of that is alarmingly being handed out to illegal immigrants — people who contribute nothing to the federal tax base in America but who seem to be experts on collecting social welfare benefits of all kinds. If you are working for a living, you are buying food for illegals who are being actively recruited by Obama and the democratic party so that they will vote more democrats into office.
When we reward illegal immigration, what happens?
That’s right – we are just going to get even more illegal immigration.
According to WND, we have already started seeing a huge increase in illegal immigrants coming across the border since Congress began debating the amnesty bill…
Illegal border crossings have doubled, and possibly even tripled, since the latest congressional push began toward comprehensive immigration reform.
In reporting first published by Townhall.com’s Katie Pavlich, border patrol agents in the Tucson/Nogales sector claim illegals are coming here in much higher numbers in just the past few months.
“We’ve seen the number of illegal aliens double, maybe even triple since amnesty talk started happening,” an unnamed border agent said to Townhall. The data from Customs and Border Protection cited in the report shows 504 illegals were detected crossing in that sector between Feb. 5 and March 1. Only 189 were caught on camera, and just 174 of the 504 were apprehended. Of those spotted on camera, 32 were carrying huge packs believed to contain drugs and several were heavily armed.
If that bill is passed, it is being projected that it will bring 33 million more people into this country…
The pending Senate immigration bill would bring a minimum of 33 million people into the country during its first decade of operation, according to an analysis by NumbersUSA, a group that wants to slow the current immigration rate.
By 2024, the inflow would include an estimated 9.2 million illegal immigrants, plus 2.5 million illegals who arrived as children — dubbed ‘Dreamers’ — plus roughly 3.4 million company-sponsored employees with university degrees, said the unreleased analysis.
The majority of the inflow, or roughly 17 million people, would consist of family members of illegals, recent immigrants and of company-sponsored workers, according to the NumbersUSA analysis provided to The Daily Caller.
We have made legal immigration a complete and total nightmare while leaving the back door completely wide open at the same time.
We greatly punish those who are trying to do things legally while at the same time we are greatly rewarding those that are cheating the system.
What kind of sense does that make?
Shouldn’t we insist that everyone come in through the front door?
Those that are coming over our borders illegally know what the score is…
Linda Vickers, who owns a ranch in Brooks County, which is Ground Zero for the immigration debate, pins the blame directly on talk of ‘amnesty’ and a ‘path to citizenship’ for people who entered the U.S. illegally.
She recalls one man being arrested on her ranch not long ago.
“The Border Patrol agent was loading one man up, and he told the officer in Spanish, ‘Obama’s gonna let me go’.”
Border Patrol agents report that immigrants are crossing the border, and in some cases surrendering while asking, “Where do I go for my amnesty?”
We are already becoming a poverty-stricken nation. We simply can’t afford to feed millions upon millions of illegal immigrants as well.
As I write this, the U.S. national debt is $16,758,107,082,298.63.
We now have a debt to GDP ratio of about 105 percent.
In the United States today, the amount of money that is deposited in our banks is about 9.3 trillion dollars. If we took every penny of that and used it to pay off the national debt, we would still owe more than 7 trillion dollars.
We are stealing more than 100 million dollars from future generations of Americans every single hour of every single day to pay our bills, and yet everyone seems to think that this is “normal” somehow.
The truth is that what we are doing is absolutely criminal, and we should all be ashamed.
For much more on our exploding national debt, please see the following article: “55 Facts About The Debt And U.S. Government Finances That Every American Voter Should Know“.
In the end, it should be apparent to everyone that our system is failing. Our government is corrupt, our big banks are consumed with greed and most average Americans are so addicted to entertainment that they have absolutely no idea what is going on.
What would those that bled and died for this country think about what we have become today?
View full post on The Economic Collapse
Business • JP Morgan Wins Biggest Payout Of All Creditors In MF Global
JP Morgan Wins Biggest Payout Of All Creditors In MF Global Fiasco
2013 March 5
by sv
. MF Global and creditors have agreed to terms over a dispute with JP Morgan over the value of intercompany claims within the bankrupt brokerage’s estate. The settlement’s effect will bolster JP Morgan’s payout. MF Global’s parent entity will increase the bank’s projected recoveries, although it is unclear how much that will serve. Court filings containing more detail are expected to be entered “shortly” in US Bankruptcy Court in Manhattan.
Whereas most of MF Global’s unsecured creditors are to receive between 13.4 cents and 39 cents on the dollar, JP Morgan is set to receive 73 cents on the dollar, but this number will even increase due to Tuesday’s settlement.
JP Morgan received much fire during the collapse of MF Global, and much conjecture regarding the nature of the bankruptcy and their COMEX position ensued. Some analysts noted that JP Morgan made a large adjustment of physical silver into its registered values over night. In the immediate wake of the MF Global collapse, JP Morgan’s registered inventories tripled from 557,265 ounces to 1,660,545 ounces on Tuesday. The similarity between the 1.1 million ounces adjustment into registered vaults at JPM and the 1.4 million ounces of registered silver tied to MF Global raised some eyebrows.
Jim Willie echoed this statement at the time:
“Here is the smoking gun. Days after the MF Global bankruptcy was filed, a vast array of deliveries in silver were expunged. The silver vault inventory tells the story of the crime. JPMorgan simply converted what should have been MF Global client silver into JPM licensed vaults. Review the timeline. MF Global declared bankruptcy on October 31st. About a week later the CME began reporting that 1.4 million ounces of Registered silver was unaccounted for and unavailable for delivery, including 627,182 ounces from non-cartel banks. About 7 to 10 days afterwards, JPMorgan suddenly reported a deposit of 613,738 ounces into Eligible vaults. Exactly seven days later, JPMorgan adjusted this silver into Registered vaults. JPMorgan had not seen one significant silver deposit in months prior to this bountiful day. Great work on the part of the Silver Doctors to decipher the story. The charade continues before the USCongress. They are told of claims that investigators are searching avidly for the missing funds. They know where the funds are, in JPMorgan London accounts.”
http://silvervigilante.com/jp-morgan-mf-global/
Statistics: Posted by yoda — Tue Mar 05, 2013 8:08 pm
View full post on opinions.caduceusx.com
Gold and Silver • Keiser Report: ‘Crash JP Morgan’ – 2nd Anniversary Special (
Keiser Report: ‘Crash JP Morgan’ – 2nd Anniversary Special (E368)
http://www.youtube.com/watch?v=H4IBUTHyROs
In this episode, Max Keiser and Stacy Herbert present the two year anniversary special of their Crash JPM, Buy Silver campaign. They discuss JP Morgan doing everything to protect the Queen of their massive silver short position – a position that has DOUBLED in the past two years according to Rob Kirby of GATA and Kirby Analytics. They also discuss Central Banks pullling on their own little bungee cords by printing money. In the second half, Max Keiser talks to James Turk of Goldmoney.com about the link between liberty and gold and the shooting war to follow the currency war. The also discuss the gold/silver ratio and why silver today is like gold at $600.
GATA consultants Kirby and Turk appear on ‘Keiser Report’
Submitted by cpowell on Sat, 2012-11-17 21:22. Section: Daily Dispatches
4:20p ET Saturday, November 17, 2012
Dear Friend of GATA and Gold:
GATA consultants Rob Kirby of Kirby Analytics in Toronto and GoldMoney founder James Turk appeared this week on Max Keiser’s program on the Russia Today network, "The Keiser Report," to discuss manipulation of the gold and silver markets. GATA figures heavily in the discussion. The program is 26 minutes long and its video is posted at YouTube here:
http://www.youtube.com/watch?v=H4IBUTHyROs
Kirby appears at 2:29, Turk at 12:58.
Statistics: Posted by DIGGER DAN — Sun Nov 18, 2012 12:30 pm
View full post on opinions.caduceusx.com
Gold and Silver • JP Morgan Silver Shortage and the next Bullion Bank Run!
GATA’s Bill Murphy on the JP Morgan Silver Shortage and the next Bullion Bank Run!
http://www.youtube.com/watch?v=sxVsosT3GAw
Statistics: Posted by DIGGER DAN — Sun Sep 09, 2012 11:10 pm
View full post on opinions.caduceusx.com
Business • JP Morgan Finished
Interview with Bill Murphy who claims that JPM is done. Toast.
http://www.youtube.com/watch?feature=pl … wkztXa8qQ#!
Statistics: Posted by Deo Vindice — Thu Aug 23, 2012 5:24 pm
View full post on opinions.caduceusx.com
Business • Morgan Stanley plans further staff cuts on weak outlook
Morgan Stanley plans further staff cuts on weak outlook
Morgan Stanley plans further staff cuts on weak outlook
Credit: Reuters/Andrew Burton
By Lauren Tara LaCapra
Thu Jul 19, 2012 5:55pm EDT
(Reuters) – Morgan Stanley became the latest bank to announce more layoffs to shrink expenses as Wall Street prepares for an extended period of weak global economic growth and low trading and dealmaking volumes.
The investment bank, which posted a sharp drop in second-quarter revenue, expects its payroll to decline by about another 1,000 workers this year to meet a broader target of reducing staff levels by 7 percent from December 2011 levels, Chief Executive James Gorman said on Thursday.
Morgan Stanley is one of several big banks to outline further belt-tightening measures this week when reporting quarterly results. The industry is facing increasing pressure from shareholders to boost profitability as the European debt crisis, companies’ reluctance to issue debt and equity, and slow stock and bond trading weigh on revenue.
Rivals including Goldman Sachs Group Inc, Bank of America Corp, and Deutsche Bank AG are also embarking on fresh rounds of staff cuts in their trading and underwriting businesses. Goldman expanded its cost-saving target by $500 million as the outlook has dimmed for near-term revenue growth.
"People have gotten more aggressive on containing costs than they had been a month or two ago," said Alan Johnson, a Wall Street compensation consultant. "You look out into the future and it just doesn’t look like it’s going to get better any time soon."
So far this year, U.S. banks have outlined plans to cut another 17,323 employees, in addition to the 63,624 job cuts detailed last year, according to outsourcing firm Challenger, Gray & Christmas.
Morgan Stanley is targeting a workforce reduction of 7 percent from the 61,899 employees it had at the end of 2011, Gorman said on a conference call with analysts. At June 30, Morgan Stanley had 58,627 workers, leaving it with around another 1,000 left to go.
The bank will achieve its goal through staff cuts and "applying a very high bar" for replacing workers who leave, Gorman said.
Times are tough enough that the bank is shrinking its balance sheet, too. Morgan Stanley hopes to cut its risk weighted assets by an eye-popping 30 percent by December 2014 from their September 30, 2011 levels of $346.79 billion.
With $317.19 billion worth of risk-weighted assets remaining at June 30, the bank has another $74.44 billion reduction to go.
Over the past year, banks have begun taking dramatic steps to reduce expenses, examining everything from bonus pools to mobile phone bills and office supplies.
Last year was the first in which banks delivered zero bonuses to some employees in an effort to contain costs, said Johnson, who has tracked industry pay for decades. Boards and shareholders are demanding better results and expect banks to fully downsize by the end of this year, he said.
"The collective view is that this is going to be a struggle and whatever size you should be, you should get there by January 1, 2013," said Johnson.
A WEAK QUARTER
In addition to broader industry challenges, Morgan Stanley had its own difficulties last quarter, which weighed on its profits.
The threat of a severe debt rating downgrade clobbered its bond trading business during the second quarter. The bank also faced broad criticism for its handling of the Facebook initial public offering: The shares sank 27 percent on their first day of trading.
Moody’s Investors Service downgraded the bank less than many investors had feared, and Morgan Stanley’s bond-trading business has picked up in the third quarter, but economic headwinds still make the environment difficult, Chief Financial Officer Ruth Porat said in an interview.
The results initially appeared better than analysts expected, but as analysts’ reactions to the report trickled in, it became clear that the results were a disappointment.
Morgan Stanley’s earnings of $564 million, or 29 cents per share, compared with an average estimate of 43 cents per share, according to Thomson Reuters I/B/E/S.
Revenue in all three of Morgan Stanley’s main businesses — investment banking, wealth management and asset management — dropped in the second quarter.
Overall revenue fell 24 percent to $6.95 billion. Those figures include a $350 million gain from changes in the value of Morgan Stanley’s debt relative to Treasuries, known as a debt valuation adjustment, or DVA.
The earnings compare with a loss of $558 million, or 38 cents per share, a year earlier, when the bank took a charge linked to converting preferred stock owned by Japan’s Mitsubishi UFJ Financial Group into common stock.
The bank’s bond trading business was the worst performer. When excluding DVA adjustments, the business posted a 60 percent revenue decline, to $770 million, a much bigger drop than Wall Street rivals, mainly because of fears about its impending downgrade.
Analysts said the results were a continuation of Morgan Stanley’s shaky performance in recent years, particularly in fixed-income trading. After losing billions on investments linked to subprime mortgages in 2007 and 2008, the bank pulled back on bond trading, missing an opportunity to mint money in 2009 when bond markets became active again.
Since then, Morgan Stanley has been hesitant to make significant staff cuts as it aims to boost market share in key trading areas, but it has had uneven success.
"These results reflect somewhat of a familiar pattern at Morgan Stanley, with quarters of outperformance often followed by underperformance," said Roger Freeman, a bank analyst at Barclays.
Morgan Stanley will have to deliver several consecutive quarters of outperformance and establish a clear market-share trend to assure investors enough to close the valuation gap between itself and its main rival, Goldman Sachs, Freeman said.
As of Wednesday’s close, Morgan Stanley was trading at 51 percent of its stated tangible book value as of June 30. Goldman closed at 77 percent of its June 30 stated tangible book value.
Morgan Stanley’s gloomy results weighed on its shares Thursday. The stock closed down 5.3 percent at $13.25.
MOODY’S IMPACT
For much of the second quarter, investors fretted about whether Moody’s would downgrade Morgan Stanley by three notches, which would leave the bank’s rating just two steps above "junk" status. In the bond-trading business, clients are often reluctant to work with counterparties that seem less than rock-solid.
The downgrade came in late June and was not as bad as many investors had feared – the bank’s main rating was cut two notches to "Baa1," three steps above junk.
But for the second quarter the damage was done. The threat of a downgrade stung, Porat told Reuters.
"We spent a lot of time with clients and counterparties addressing questions they might have – and that’s time that otherwise would have been spent focusing on getting new business," she said.
"As the quarter wore on, in particular as Moody’s extended the timeline for making its decision, it really just put more weight on the whole situation. Clients seemed to take this wait-and-see approach."
The bank has had to post $3.7 billion of collateral since the downgrade, but business has improved and the pace of collateral calls has slowed since late June, Porat said. So far in July, the bank had to post just $800 million more collateral.
"We’re certainly seeing that the weight of that Moody’s decision has lifted," she said.
Morgan Stanley has been focused on increasing its trading exposure to "flow products" that have high volumes and less risk, while reducing exposure to more complex securities that are treated unfavorably under new capital rules.
Shannon Stemm, a financial services analyst with Edward Jones, called the bank’s asset reduction targets "aggressive" and said it will be difficult to increase trading profits while also reducing risk.
Stemm voiced concern about client business moving away from Morgan Stanley to competitors during the quarter, and how long it might take for that business to return.
Morgan Stanley’s 60 percent decline in bond-trading revenue compared with a 17 percent drop at JPMorgan, a 4 percent drop at Citi and a 37 percent increase at Goldman Sachs.
"All of these companies are at the mercy of the macro environment, but within that some are winning and some are losing," said Stemm. "It was very clear this quarter that Morgan Stanley was on the losing end."
http://www.reuters.com/article/2012/07/ … K120120719
Statistics: Posted by yoda — Thu Jul 19, 2012 5:26 pm
View full post on opinions.caduceusx.com
Agriculture • Corn futures may hit $10 a bushel – Morgan Stanle
Corn futures may hit $10 a bushel – Morgan Stanley
Corn futures, which topped $8 a bushel for the first time, could yet spike above $10 a bushel, Morgan Stanley said, lifted by a "battle royal" between livestock producers for supplies.
The investment bank hiked average 2012-13 forecasts for both Chicago corn futures, to $7.85 a bushel, and soybean futures, to $16.00 a bushel, citing the "need to ration demand" after heat and drought cut estimates for US yields.
However, given the "inelastic nature of demand" for the crops – meaning higher values may only choke off a small amount of consumption – and the prospect of "record tight" inventories prices could trade "significantly higher for short periods of time".
"Indeed, we anticipate periods of time in the coming months where corn trades in double-digits," Morgan Stanley said.
That forecast implies considerable further upside for futures.
Chicago’s September contract on Thursday rose nearly 2% to a record, for a spot contract, of 8.11 ½ a bushel, while the new crop December lot reached a contact high of $7.98 a bushel.
‘Need for higher prices’
Morgan Stanley based its forecasts on assumptions of the US corn yield falling to a 10-year low of 135 bushels per acre this year, below the US Department of Agriculture’s estimate of 146.0 bushels per acre.
In production terms, the bank pegged the US corn harvest at 11.9bn bushels, nearly 1.1bn bushels below the current USDA estimate.
"The market is quickly coming to appreciate the need for higher prices to protect already-depleted corn and soybean inventories, in light of disappointing production globally — and especially in the US," the bank said.
The bank pegged the soybean yield at 40.0 bushels per acre, compared with a USDA estimate of 40.5 bushels per acre, implying 91m bushels less in output, while noting the potential for further downgrades.
"With US weather forecast to remain hot and dry through at least end-July and likely into August, the direction of yield estimates and production is likely lower still."
Producers vs blenders
The consumers set to suffer most from the shortfall in corn supplies were in fact not the ethanol producers, whose slowdown in output to its lowest for at least two years, amid a rash of plant closures, has prompted concern of government intervention to support the industry.
"Ethanol rationing will be more limited than market expects," the bank said, noting a return in Illinois ethanol production margins to positive territory, thanks to higher prices of the biofuel.
Furthermore, US ethanol stocks were declining, standing more than 3m barrels below a record high in March.
"As ethanol inventories continue to fall, producers will likely be able to take profit share from the blenders," which mix ethanol into gasoline, and "which still enjoy positive spot margins of at least $0.26 per gallon".
‘Battle royal’
Instead, with ethanol demand "providing limited opportunity for rationing" corn use, the bank forecast a "battle royal" over the grain between US and international livestock industries.
The outcome would likely be corn exports falling to a 27-year low of 1.3bn bushels, while US feed demand "is likely to see significant rationing".
Among US livestock producers, the chicken industry was likely to feel the brunt of the pain, with its margins rendered "solidly negative" by soaring feed costs.
"With the chicken production cycle the shortest among the major livestock, we expect that this industry to be the first to reduce demand for feed," the bank said.
The cattle sector looked more resilient than the pork industry, with corn prices above $8.30 a bushel needed to turn feedlot margins negative over the rest of 2012.
http://www.agrimoney.com/news/corn-futu … -4763.html
Statistics: Posted by yoda — Thu Jul 19, 2012 8:26 am
View full post on opinions.caduceusx.com
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/images/quotes_7a.gif)
