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NBN News | REGION S LIVESTOCK EXCHANGE ON TRACK TO RECORD BIGGEST MONTH IN HISTORY
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The American Rodeo Stockyards Style | Fort Worth Stockyards
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Courtesy Circle L 5
In the early 1950s, Circle L 5âs founding fathers fought for the right to ride in the Fort Worth Stock Show & Rodeoâa tradition they continue today.
For the past 70 years, the Circle L 5 Riding Club in Fort Worth has been honoring the legacy of its forefathers. share this article
Imagine. Youâre standing on the century-old, red-bricked Main Street in Fort Worth, Texas. Itâs January and chilly, but not excessively so. Cold enough for onlookers around you to pull hats down tight on their heads, but warm enough to remain outside for an hour or more as a steady stream of horses and riders clop past, part of a 112-year-old tradition that, each year, kicks off the 23-day Fort Worth Stock Show and Rodeo.
When Salem Abraham would show up at his grandfather’s 10,000-acre ranch in Canadian, Texas, it was often bad news for the Hereford bulls: dehorning, branding, castration.
These days, he has an equally uncomfortable message for the tassel-loafered endowment managers at Harvard, Princeton, and MIT: “Hope is a bad strategy.”
It’s a warning Abraham hedge fund manager, commodities trader, and Texas rancher has been delivering for years to investors who figure they will be lucky enough to dodge the next stock-market calamity.
Endowments, foundations, and their ilk today are wildly over-reliant on the stock market, Abraham says. Their managers are ignorant that bonds and other key asset classes are increasingly correlated to equities. And they naively believe that the pricey hedge funds they shovel their money into will provide safe haven in a selloff.
for The Fence Post
Weather plays a pivotal role in deciding when to sell cattle. In Kansas and Nebraska, especially the eastern half of both states, many livestock producers are getting weaned calves ready to send to the sale barn. However, where drought is bearing down, especially in Colorado and other western states, it’s another story.
Tough decisions have to be made in parts of Colorado. Because producers pulled calves off pasture in the summer, buyers are looking at other options.
“Decisions were made in the end of July and early August regarding producers’ annual production calf crop, and 50 percent weaned early, and another 50 percent sold early or were brought into a drylot,” said Robin Varelman, owner of Livestock Exchange LLC in Brush, Colo. “So, we’re only looking at 25 percent availability.”
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