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Strategies & Market Trends : Strictly: Drilling II -- Ignore unavailable to you. Want to Upgrade?

To: Frank Pembleton who wrote (15180)	7/4/2002 3:25:42 PM
From: Joan Osland Graffius	Respond to of 36161

Frank, Right now the ranchers in the cattle producing states are sending their cattle to slaughter early because of the food supply which has been caused by the drought and the price of live cattle is currently under pressure. This should cause higher prices later on when demand is larger than the supply. I am sure when these ranchers get rain they will hold back supply as long as they can. I am not an expert on if these folks are financially able to hold back supply for a long time. I notice the wall street analysts are lowering the projected income of the beef corporations which IMO is an opportunity to buy some of the companies that are well managed. One company I like is SFD, but it could trade at lower prices than its current price, but IMO it is currently trading less than its intrinsic value. Joan