This spread has been unseasonably wide so far in 2006, reflecting the tight available supply of market ready cattle, especially in the south.

When the spread is wide, packers are forced into the market — and producers have leverage. When the spread narrows, packers have the leverage.

Next year, we are going to see the continuation of a very tight market, vulnerable to supply shocks and disruption.

Dressed in the lion's skin, the ass spread terror far and wide.

The market will closely monitor planting progress, weather and weather forecasts, and weekly crop condition reports as they become available in order to judge 2006 production prospects. These factors will also provide producers with valuable information for gauging new crop pricing opportunities. The lesson of a year ago is that the weekly crop condition ratings are very valuable in judging U.S. average yield prospects.

When I did 'The Tudors,' there was massive information available and a ready-made market.