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From: TSS (216-119-143-26.ipset23.wt.net)
Subject: DAILY COMMODITY MARKET COMMENTARY Monday, November 29, 2004 16:14 GMT (MEATS AND MAD COWS USA)
Date: November 29, 2004 at 8:50 am PST
-------- Original Message --------
Subject: DAILY COMMODITY MARKET COMMENTARY Monday, November 29, 2004 16:14 GMT (MEATS AND MAD COWS USA)
Date: Mon, 29 Nov 2004 11:02:28 -0600
From: "Terry S. Singeltary Sr."
To: Bovine Spongiform Encephalopathy
CC: cjdvoice@yahoogroups.com
DAILY COMMODITY MARKET COMMENTARY Monday, November 29, 2004 16:14 GMT
Daily Report
by Traders Exchange Corporation
http://www.tradersexchange.com
Meats: March Feeder Cattle bounced last week on news that the recently
tested cow did not test positive for Mad Cow disease. Samples of the
tested tissue are not being sent to international experts for
confirmation and we believe the testing was not done to world standards.
We continue to advise traders to position in long term puts as we
advised before the recent sell offs. Cattle markets have been slammed on
the daily charts but on weekly and monthly charts we have much further
to go. It could be the world is waking up to the fact that the USDA
testing methods for Mad Cow (BSE) here in the United States are
pathetic. The U.S. Cattle industry would love to see the borders be
reopened to Japan because before the ban the U.S. exported 1.4 billion
dollars worth of cattle to Japan. Japan tests every cow for human
consumption and the USDA test nothing, would you want U.S. cattle
probably not. High Prices and Weak Fundamentals. The rest of the
commentary will remain the same and maybe the USDA will get up to par
with the rest of world and stop trying to cut corners, who cares if
testing would add a few cents per pound (large fast food chains
probably). Human safety is a little more important. Let's touch base on
Japan they imported last year about 1.3 billion dollars worth of beef
from the United States. Japan has banned U.S. Beef because of the Mad
Cow found in Washington State last December. Japan tests 100 percent of
all cattle for human consumption and Europe tests 1 in 4. What does the
USDA test here in the Unites States??? The European Comm.'s risk
assessment of the U.S. states that young age at slaughter makes it
unlikely that full clinical cases could be detected. Half of the U.S.
cows don't make it past 4 here in the U.S. before being turned into
hamburger meat. Europe test about 2000 times more cattle then what the
U.S. does. Testing of every cow slaughtered for human consumption in the
U.S. is the only way to ensure the safety of the American people and
foreigners that import. What happened in Washington last December of
discovering Mad Cow Disease is not surprising what is surprising is that
the inadequacy of our testing program actually found it. Traders should
avoid the long side of this market and build long term put positions.
Live and Feeder Cattle are still trading near historical highs when they
should be at historical lows. ...
TSS
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