Latest / CattleUSA Daily / 258: Volatility, Heifer Retention, and a Nervous Cattle Market with Dan and Samantha

Transcript

258: Volatility, Heifer Retention, and a Nervous Cattle Market with Dan and Samantha · CattleUSA Daily

0:00
Welcome back to another episode of the Cattle USA Daily podcast.
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Today we are bringing on Dan Gearholt and Samantha Koza,
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right, to cover our commodities markets and what we are seeing
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on the board. They also bring it back to what
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we're currently kind of seeing and some of our live cattle
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markets as well. They are discussing everything
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that is playing into these factors today.
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We even touch on heifer retention a little bit and some
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rumors that we've been hearing with that.
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Some of our thoughts are candid opinions on just the volatility
0:27
that we are seeing in this market right now and how all
0:30
quickly the drop of the ball can come with this market and with
0:34
these highs and these lows that we are currently seeing and have
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seen over the past 30 days as we have been into this New year.
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If you're watching on YouTube, make sure you take a second to
0:42
hit that subscribe button up above and like this episode.
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And if you're watching on any of our other podcast platforms,
0:47
make sure you take a second to follow the show and rate and
0:49
review it as well. Without further ado, let's go
0:51
ahead and hear from Dan and Samantha.
0:57
Welcome to the Cattle USA Daily podcast, your go to source for
1:00
the latest livestock markets, industry insights and the
1:03
updates shaping agriculture today.
1:05
I'm your host, Lauren Moylan, a passionate advocate for
1:08
agriculture here to keep you informed and connected.
1:11
Now let's dive into today's episode.
1:20
Dan, Samantha, welcome back. I hear, I feel, I have a feeling
1:24
today's episode is going to be a little pot stirring or Dan just
1:29
has something special in store for us.
1:30
I, I know it and Samantha and I are just going to get to sit
1:32
back and enjoy the enjoy the show.
1:34
But how are you guys? No, you guys just want to stir
1:39
the pot and get me all wound up. I mean, I did mention you on my
1:45
podcast earlier with John that will come out the day after this
1:48
episode for all of our audience members.
1:51
And I, I said that Dan probably just wants the government to
1:54
shut back down again because of the report that came out this
1:56
last week. But you know, they, they voted
1:58
to open it back up. So here we are.
2:00
It was closed for a whole whopping 12 hours.
2:03
Yep, Yep. I don't even think most people
2:05
knew it was closed. So all good now.
2:09
Shoot, just just another day in the markets.
2:12
Volatile as heck. It is, it is Samantha.
2:16
How are how are you doing? You guys holding up?
2:19
Yeah, doing good this, I mean, today in the markets kind of
2:24
came out of left field, wasn't expecting this.
2:26
Yesterday I was bullish and today he'd throw some bears in
2:28
the market. So.
2:30
Wild got a lava headlines and some different things going on
2:36
out there. John does say that you know, it
2:39
may be tanking right now, but come back come Monday.
2:42
He's he's got some got some words on his opinions on how
2:46
it's going to go because of Super Bowl Sunday.
2:48
But I'd love to hear your guys's thoughts and your opinions on
2:51
what the hell is going on with the market right now and what
2:55
are your thoughts on it? It's the good old cattle con
2:58
crash. Just, I mean, come on, pull up
3:04
the charts. That's what they're forced to
3:06
look back in history. And I mean, anytime they have an
3:09
NCBA convention, not every time, but sometimes the market likes
3:16
to have a rough go that week. So Yep, Yep, just having having
3:22
fun wrecking our markets down there I guess.
3:24
Lauren asked me the other day if we were going to send someone to
3:27
Cattlecon next year. I'm going to take that as a hard
3:30
no. I would like it to be known that
3:34
we are probably all going to be put on a no entry list.
3:37
So Dan is going to get me kicked out.
3:40
Dan's not even here this year and he's going to get me kicked
3:42
out. Winning.
3:44
Winning. Luckily, this episode is
3:47
probably going to go up too late in the day.
3:48
Today's the last day. It's going to go up too late in
3:50
the day for them to know, but they will know for next year
3:53
that my little my little name tag is going to be flagged.
3:57
Hey, no biggie. It's just a.
3:59
It's just a, I guess, laughing point more than anything.
4:03
If there's there's one on the Iowa Port Congress, too.
4:06
I think when the port Congress ends, you're supposed to sell
4:08
hogs or or something like that, you know, call it a seasonal
4:11
whatever, but yeah, it's just kind of funny.
4:14
All the markets always take a bath the week that the NCBA gets
4:17
together and rub shoulders. No call, man.
4:25
No, said. Are we calling it quits there
4:27
for the day or? Calling it quits there had some
4:30
good news to the makes. You know, let's let's start with
4:32
the good one with the pad Monday there was big gains on the
4:36
future sports, so that was good. I had a pretty bullish cattle
4:40
inventory report, gave cash an extra boost.
4:42
So that carried us through the first part of the week anyway,
4:46
you know, phenomenal prices all around, even despite some winter
4:49
storms spotted throughout the country.
4:51
Everyone being pretty aggressively, just knowing that
4:54
receipts are probably going to start.
4:55
We're tanking off more in the future as we get into tighter
4:57
supplies. So great demand throughout all
5:00
weight classes, though heavyweight feeders especially
5:02
do that $5 jump on fats last week.
5:06
Lot of risk associated with these prices.
5:08
So it's always good to see the producer get the extra pump
5:11
where they need it, whether it be the cow calf guy or the feed
5:13
lot guy. But yeah, unfortunately today I
5:16
wanted to come on with all bullish news, but futures took a
5:19
pretty big hit. So that is affected buying quite
5:23
a bit in the sale barns from the sales I've caught today anyway,
5:25
people are a little more hesitant to be the first to
5:27
throw their hands in the air, a lot less people in the stands
5:31
haven't really seen any confirmed cash fats, straight
5:34
hands yet this week out of five area.
5:36
Again, unfortunately with futures dropping off, we
5:39
probably don't see the Packer offer any significantly higher
5:42
bids by any means. So that's the feed a lot guy in
5:45
a crappy position when they're holding out for these higher
5:47
bids like this week. And here comes the crash.
5:50
So some whispers of 238 bids, nothing confirms water's been
5:54
trickling back. We also seen some high volume
5:57
trade between, you know, the feed lot and the pack of the
6:00
last two weeks. And it's been bought on two to
6:02
four week delivery. So before today's news, I
6:05
probably would have told you that getting cattle backed up
6:07
wasn't maybe a huge concern with that delivery time frame.
6:11
But now there's a strike at the JVS plant in Greeley, Co, and
6:15
that's the largest fed beef plant in the US.
6:17
So that's hugely influential to the beef supply chain.
6:23
You factor that in with these dairy cows and the beef on dairy
6:25
calves hit the market too, and then suddenly you've got
6:28
everyone fighting for that same slaughter space and yard space.
6:31
So I mean, that Catalan inventory report had dairy cows
6:35
up to 220,000 head from last January.
6:38
So you got coal cows hit in the chain.
6:41
Beef on dairy cows are hitting the market at roughly $1500 a
6:44
head. The domestic dairy herds
6:46
expanding at insane rates. I mean from a technical
6:49
standpoint, the dairy herd has reached its highest level since
6:52
the 90s and expanded at the quickest rate since the 50s.
6:56
So you figure that plus dairy cow kill for the 1st 2 full
7:00
weeks of this year pegged at 60,000 head per week.
7:03
And historically 2 things in specific typically aren't good
7:06
for the cattle market and that's government intervention and
7:09
dairy cattle flooding the market.
7:11
So now you've got to strike out a major beef plant to add to it,
7:15
and that just adds fuel to the fire.
7:20
Spot on. It's pretty easy to get get
7:22
bullish at the top and there were plenty of reasons to be
7:25
bullish. But it's amazing sometimes how
7:27
these charts will or the markets will tell us something is coming
7:31
or they will tank before it happens.
7:34
I mean, you look at yesterday's action on the board like March
7:38
feeder cattle rallied into that highest gap that we left back in
7:42
in October that we thought was unachievable.
7:44
Again, we rallied into it but did not finish filling it.
7:47
And then all the sudden we get rejected, pull back, look at
7:51
today, you know, bloodbath. It'll be interesting.
7:55
We did gap lower in fat cattle today.
7:57
So we have that highest gap above us from October in fats,
8:00
and now we have a gap above us from today.
8:02
So how we perform over the next three days, three weeks, you
8:06
know, so on and so forth, is it's going to decide if we're
8:10
going to go finish filling gaps or where we go from here.
8:12
I hope John is right and some big news coming Monday, whatever
8:15
that is. But yeah, now we need something
8:19
fundamental to step in here because you spooked, spooked a
8:21
few traders. It also didn't help Equities are
8:23
down today. He took out the low from a
8:27
couple weeks ago, got everybody on edge over that, gave a nice
8:31
little push in the grain markets, you know, on China's
8:34
news. But you know, is that going to
8:36
be a buy the rumor, sell the fact type deal on that stuff
8:39
like it used to always be with working with China and and Trump
8:44
together. So that'll be interesting.
8:47
Probably going to start looking at making some new crop sales,
8:50
you know, the corn and bean market as we go through this
8:53
week, if we can get that market to push touch higher.
8:58
Full disclosure, I think did we talk about it, Lauren, last week
9:01
that I was going to try buying some cattle this week.
9:06
I bought, I bought some yesterday.
9:08
It's not a no big surprise, not not a special deal.
9:11
I bought cattle, but seems like every time I buy cattle, the
9:13
market tanks 5 or 6 bucks. So I'll try and send a bulletin
9:18
out next time I get aggressive and just go, you know, Willy
9:21
nilly buying all the high figures.
9:23
So yeah, quality's out there though.
9:27
I this is my favorite time of year to buy Yearlinks.
9:30
You know, you get a lot of this, this old calf, 2020 fives calf
9:34
crop that are finally reaching that yearling age.
9:36
It gets pretty fun. So yeah, it's the deferred
9:41
contracts are not giving us much of an option or much of an
9:44
opportunity I should say to hedge off these cattle where
9:47
where we're buying them at. I'm in 2:30 in the August board
9:51
with a 378 weight steer and those numbers don't pencil.
9:56
I'm in. That's, that's pretty extreme.
9:59
I remember back in the day when the old feeder, fat feeder
10:03
cattle, the fat cattle spread on the board used to be 30 to 40,
10:06
maybe 60 bucks. Now we're screaming more than
10:09
$100 higher in that spread. It's pretty wild time.
10:13
So a lot of bullish sentiment out there in the country when
10:16
you sit, sit down and watch sales at the barn.
10:19
So, and rightfully so, there was definitely reasons to be
10:24
optimistic. We do need to be paying
10:26
attention here because a rally, a rally back this far to come up
10:31
short of filling that gap, to come up short of touching the
10:34
old high, that's very concerning if we're just looking at the
10:38
technicals, you know, what are your speculators thinking?
10:41
They're a little bit nervous now.
10:43
So we'll see if the fundamentals can can outweigh all that and
10:47
push yourself into new highs the next week or two.
10:52
Yeah, We're definitely dealing with a very volatile market
10:54
right now. Samantha, you said it perfectly.
10:56
There's a lot of things going into factors in the market right
11:00
now and what is factoring into the highs and the lows and
11:04
everything else in between has been all over the board
11:07
recently. And I think that there is a lot
11:09
of different things and that JBS plant is a concern.
11:14
It is a big concern. If they do end up actually
11:17
activating on that strike, they voted on it and so it is in the
11:22
works. They haven't set a strike date
11:24
yet. But I think that it is
11:26
definitely something that we need to keep our eye on because
11:28
as we've said before, the industry headlines and the
11:31
things that are hitting the news cycles and things like that are
11:34
really playing a big role in the volatility of this market.
11:39
And so it's important that we continue to keep our eye on
11:41
those things and because it will have a trickle down effect into
11:45
what we are seeing in the cattle market.
11:49
Yeah, Like I mentioned, sorry, but I just noticed as you
11:53
mentioned, that's a big driver in this, the volatility.
11:58
If you look back just in the last 30 days of trading, we've
12:01
had four or five days of extreme sell offs like this just out of
12:06
nowhere. That should put everybody on
12:09
edge because it proves how uneasy this market is up at
12:12
these levels. So if if it was a good strong
12:16
stable market at this price, you wouldn't see that much, you
12:19
know, that happened that often. So a little bit concerning
12:22
there. Yeah, for sure.
12:25
I think just watching politicians and keeping an eye
12:28
on those things happening in the news too, because you never
12:31
really know what's in a trader's mind.
12:33
I guess I'm seeing all these different headlines.
12:35
Maybe not every one of them's talked about, but people are
12:38
seeing them. You've got Sid Miller and his
12:41
plan, all this. You got primaries coming up.
12:43
He's cloud chasing. I saw a on the news the other
12:45
day with him incentivizing tax credits for heifer retention and
12:49
talking about lowering beef prices and it's like my God, you
12:53
guys just keep the government intervention at Bay and then I
12:57
would be more bullish this cattle market.
13:00
Someone find a roll of really good duct tape for me, because
13:04
I've got some thoughts on that. And Mr. Miller needs to stay
13:09
home and stop talking. That's all I'm going to say.
13:12
I agree, BS for sure. If you guys aren't watching on
13:20
YouTube, Dan had a very good reaction to Samantha's comments
13:23
there and obviously has quite a few opinions that I feel like
13:26
he's biting his tongue on. Oh, we're, we're popping the
13:29
knuckles now. All right, buckle up, boys and
13:33
girls. Yeah, moving on.
13:38
Yeah, for sure. Well, what else are we seeing in
13:43
the markets, guys? Anything else that we need to
13:44
hit on? Any other highs, lows?
13:46
Dan, you want to touch on grains a little bit?
13:48
I know not a whole lot has happened in them over the past
13:50
week. We've seen a little bit of
13:52
positivity there, but you want to hit on those for us real
13:54
quick. And then anything else, Samantha
13:56
or Dan that we need to hit on in the markets or headlines?
13:59
You know, grains got that lift yesterday, Trump came out.
14:01
China's talking about up in their their plans on how many
14:05
soybeans are going to import. Once again, I always come back
14:10
in, in a little bit skeptical when dealing with China because
14:13
they like to over promise and under deliver.
14:17
So we're going to find out in the coming weeks if this is just
14:20
a little bump, if if they're going to stick with those
14:23
commitments they're talking about, you know, corn finally
14:28
got a little lift today on the back of soybeans.
14:31
We finally got that lift today as well.
14:35
Other than that, it's kind of in limbo.
14:37
I still think with our carry outs that that we're holding
14:40
right now, we should be actively looking at new crop sales out
14:43
into the future. I'm happy this is happening
14:46
because it's in our crop insurance pricing period.
14:48
So it's a good time of the year to have have a nice little
14:51
seasonal rally manage money is on the back of it.
14:54
You know, they're they're buying futures right now, buying
14:57
options. So love to see that that that
15:00
helps support a market rally lasting longer than and maybe
15:05
this would have. So another thing I I'm starting
15:09
to pick up on is, is beef is getting a little bit more
15:12
reasonable. You know, you start looking at
15:14
burger at $4.00 a pound in the store, you start looking at
15:17
steaks pulling back to that 15. You know, we talked about
15:20
towards the end of last year that the retailers had the ball
15:24
in their court and they were going to improve their margins
15:27
and they did. And all of a sudden, our volume
15:29
that we started moving really slowed down for our volume we
15:32
were moving. That really pulled back.
15:34
It was because those high prices, right, $20 steaks, $6
15:38
burger. Now all of a sudden, we still
15:40
haven't seen the volume tick up in a big way, but we're at least
15:43
seeing the prices come down, $4.00 burger, $15 steaks.
15:46
Yeah, it's not the time of year we're going to move a lot.
15:48
But at the same time, if we can drop that price now going into
15:52
that hot grilling season coming up here in a month or two, you
15:55
know, that's it. This is all optimistic things
15:58
that that help support a more stable market, maybe maybe take
16:03
those extreme lows or sell offs out of the equation if we can
16:06
get that domestic demand ramp back up.
16:08
So really optimistic about that hog market, You know, been on a
16:13
tear managed money's been all about it.
16:17
Haven't really can't really put a lot in the hog cut out the
16:20
last couple days. Bellies are doing a bunch of
16:22
funky things. So we'll see probably over the
16:25
next 5 to 10 days how hogs act. I guess a seasonal hair, you
16:30
know, you get towards the end of February, 1st of March,
16:33
typically your proteins pull back in price, pretty standard
16:36
stuff. So yeah, we'll just see how it
16:39
all Nets out over the next 5-6 weeks.
16:44
Samantha, do you have any other closing thoughts or any other
16:47
topics we need to talk about? Not really.
16:50
I mean, just looking at that cattle inventory report for a
16:53
minute, nothing super explosive about it, but just kind of to
16:57
talk about it here for for just a second.
16:59
I mean, obviously it was, it's pretty bullish on the market.
17:02
Cattle and Cavs analysis predictions were a little
17:04
questionable. I mean that they had beef cows
17:07
estimates at .4% above last year.
17:10
That threw everybody for a loop, but it actually helped make that
17:13
report look more bullish compared to the official numbers
17:15
that came out being 1% below last year.
17:19
So same with the calf crop, it was nearly down 1.6%.
17:23
The official numbers really just gave clarity to most of what all
17:26
of us were expecting. Looking at those beef
17:29
replacement efforts, again, I mean, they came in nearly a
17:31
percent over last year, but they were a percent underestimates.
17:34
So again, heifer attention is happening, nothing super
17:38
substantial. I will say there's a lot of
17:40
bread heifers coming through the sale barns, a lot of heifers
17:43
coming through that are being marketed and bought as
17:45
replacements. So if these these guys aren't
17:48
holding them back, at least somebody is.
17:50
I mean, heifers as a percentage of the feed yard doesn't yet
17:53
reflect that. So some mixed signals there.
17:56
But it's possible we could see a shift in the upcoming catalog
17:59
feed reports. I mean, but regardless, you got
18:01
to figure another year and a half before that cap hits the
18:04
feed yard and another six months on top of that before it's a
18:08
beef supply chain. So it's not an instant relief by
18:12
any means. That of itself is pretty
18:14
bullish. But just looking at that also
18:16
whether or not producers are actively rebuilding their herd,
18:19
it really depends on how bad they need the revenue from that
18:22
cap. I mean, some people just can't
18:24
afford it or maybe don't have the grass to do it.
18:27
I think everyone can agree the ranchers always the first to
18:30
take a hit for whatever is best for the industry.
18:33
I mean, but some people needed the bump to pay off that update
18:36
equipment, you know what have you.
18:38
But also referring back to whether they have the grass to
18:40
do it for a minute, I mean, let's take a look at land prices
18:44
over the last 15 to 20 years. Where I'm at in Northwest
18:47
Kansas, you could buy a quarter of grass for $300.00 an acre. 15
18:51
years ago now that same piece of grasses were upwards of twelve,
18:55
$1300.00 an acre in today's market.
18:57
So and then you move over to eastern Colorado in that area
19:01
and a high investment area and it's more like $10,000 an acre.
19:04
So it's tough. I mean, how do you compete with
19:07
that? So it's just it goes a lot
19:10
deeper than what the numbers are telling you.
19:13
Yeah, it definitely does. Heifer.
19:15
Retention has kind of been a hot topic conversation piece this
19:19
week, especially because a lot of people that I'm here with
19:22
just know that I talked to a lot of people within the industry
19:24
through the podcast, through other things.
19:26
And I my biggest thing that I've been telling them is, yeah, the
19:30
early indicators are there, but I don't think that we can
19:33
confidently still say that it's happening at a big enough rate.
19:38
And on Mr. Miller's comments on what he thinks, things that we
19:42
should do, I think that he can shove those somewhere because
19:47
yeah, yeah, we do not need tax credits for heifer retention.
19:52
I think that that is outlandish and we need less government
19:55
intervention. We not more as far as that is
19:58
concerned and it's it's putting a Band-Aid on a bullet hole.
20:02
It's not actually solving any problems.
20:04
At the end of the day. I think that this is going to be
20:08
an ebb and flow that we have seen throughout the industry
20:10
historically and we need to let it play out how it's going to
20:14
naturally play out because there are so many other factors that
20:17
go into it. Samantha, you hit the nail on
20:19
the head there of what does grass look like right now?
20:22
Do we have the ability and the space to put these cattle?
20:26
If it's not grass, then is it? Actual ability and income and
20:30
infrastructure and all of these other things that go into that
20:32
retention and understanding the fact as well that we're not
20:35
going to see the return on this for at least a year and a half
20:39
on a lot of these ranches. And sometimes it is expensive to
20:42
keep that heifer and not have her in production for a while.
20:45
So, I mean, although we want to see it and we want to see our
20:48
cow herd numbers go up here in the United States, it's also the
20:51
reality that we have to sit back and see where these ranchers are
20:54
really lying and what different facets and things that they're
20:57
dealing with in their everyday lives.
20:59
Exactly. I mean, it's one thing for these
21:01
guys to say this is what we need to be doing step by step.
21:04
It's another for you to actually be in the position to make that
21:07
decision based off your financial situation, drought and
21:11
all those things that play into it.
21:16
Dan, any comments? Any thoughts?
21:19
No, I agree. It's all great points.
21:22
I mean that. Just look, look back this fall,
21:25
you know, beef went crazy high. You had 416 choice boxes, steaks
21:29
went to 2025 bucks a pound at the retail.
21:33
The price curbed the demand to meet the supply. 2015 we
21:38
retained a way more heifers than we ever did in 13 or 14 and the
21:42
market still fell out of bed. So you know, everybody's just
21:46
looking at that retention and, and only that price still
21:50
matters. I come back and I and I asked
21:53
the question how would a bread heifer get to the point it's
21:57
worth 4500 bucks or 5000 or so? I saw some at 57 + 100 dollars a
22:03
head for a bread heifer. If there was no demand,
22:07
retention is happening because we're seeing it in the price.
22:10
So at the end of the day, we don't need 30 million beef cows
22:15
in this country anymore because we're obviously making bigger
22:18
carcasses and blah, blah, blah. We could go on for hours and
22:20
hours and hours, but it it's happening, it's not going to
22:25
wreck our markets tomorrow. It's going to be down the road.
22:29
You guys are both 100% right. I want to get back to 2829
22:33
million with really, really strong domestic demand and and
22:38
weights in check. But I, I also want to have a
22:42
lake house and a yacht and all this.
22:45
And I don't get that either. No, I don't want any of that
22:47
crap. But no, it's, yeah, it's the
22:51
market is doing what the market is designed to do.
22:54
Price decides on where supply and demand should be.
22:58
And when one of those is out of whack, the price fluctuates.
23:01
So price matters. I always say it price matters.
23:05
And then we found that out today a little bit.
23:09
Yeah, we absolutely did. I think that this is one of
23:12
those situations that it's something we're going to
23:14
continue to watch and we're going to continue to work
23:16
towards as an industry. But it doesn't happen overnight.
23:20
It doesn't. We want it.
23:22
It would be awesome if we could get back to those numbers and
23:24
get back to that domestic supply, especially when we're
23:27
talking about a national security standpoint.
23:30
We do need to have the beef supply here in the United
23:32
States. And I would love it, love it if
23:34
we could really start relying on that again.
23:37
I mean, there's so many other side effects and things that we
23:39
could talk about all day, like you said, Dan.
23:41
But at the same time, it's, it's understanding that this isn't
23:44
going to happen overnight, that this is going to take time.
23:46
It's going to take every single person being in the right
23:49
financial mindset and right financial place to be able to be
23:52
a part of that growth and that retention and that change.
23:56
So it's something that we'll continue to track because it
23:58
will affect the market as it continues to happen.
24:01
But yeah, those are my thoughts on it.
24:03
Any other closing thoughts? Any other things that we need to
24:05
talk about or chat about guys? Lauren is at NCBA convention.
24:10
If you if you want her to stand up and say anything in front of
24:15
anybody, jump into those comments, type them up.
24:19
I think she'd be happy to, to speak for the producers.
24:24
Let's just hope she talks. You know, respectfully, I had a
24:27
four or 5:00 when she goes down the street and she's on the
24:30
strip eating Bologna sandwiches and and all the all the little
24:34
fruity drinks. Oh, what a close.
24:40
I think we're just going to leave it at that.
24:45
If you have anything that you would like me to share up on a
24:48
stage. Actually, Dan, unfortunately for
24:51
all of our listeners, all of my mainstage speaking engagements
24:54
are done for the day. But I'm not afraid.
24:57
There's a little in the middle of the trade show.
25:00
They have a bar shaped like a guitar.
25:02
Maybe I just need to go jump up on that with a mic real quick.
25:05
And there you go. Share Share some thoughts also.
25:09
Have. Somebody you know?
25:11
I want to see that Yeah, we'll we'll make sure it gets videoed
25:15
if it happens. So stay tuned stay tuned.
25:18
I'm sure it'll go viral on TikTok if it does so can can
25:21
find more there to all of our audience members on that one.
25:24
So right on. Well, all righty yeah, kind of
25:29
think of a better way to close that out.
25:31
So we're just going to wrap it up there.
25:33
Thank you, Samantha, for your time today.
25:35
Dan, I'm not thanking you for that.
25:38
Just going to move move it along there to all of our audience
25:41
listeners, if you enjoyed today's podcast episode or have
25:44
something to say, make sure you leave it down in the show notes
25:46
apparently in those comments and Dan will be sure to read those
25:50
and send me text updates on everything that's happening and
25:53
being said. And as always, thank you for
25:56
tuning into another episode of the Cattle You USA Daily
25:59
podcast. We'll see y'all next time and
26:01
hopefully I don't get kicked out here, so we'll see.