Market Closes - April 16, 2015 - Kentucky Farm Bureau

Market Closes - April 16, 2015

Posted on Apr 16, 2015
CBOT futures ended the day mixed with small price changes, if any. Market news was minimal. KC and MGEX wheat set new contract lows and closed poorly with rains beginning to fall in parched areas of Kansas. The US Dollar weakened during the afternoon; this week, the US$ has unwound a good part of last week’s rally.

Cattle futures closed higher – for the 4th straight day, but have not recovered the severe losses posted last week. Futures have recovered thanks to a near-$4.00/cwt gain in the Choice cutout since Friday and optimism that fed cattle will trade steady to higher tomorrow. However, the closing boxed beef quotes were weaker than the midday’s. Choice carcasses down 0.42 at 260.38; Select down 0.25 at 250.97. The CME Daily Livestock Report today discussed beef and pork exports, which appear to be recovering from the winter weakness that suffered in part from the west coast shipping problems.

Lean Hog futures closed higher, erasing some of yesterday’s sharp losses. But pork markets are not helping to extend the buying into Friday. FOB Plant Pork closed down 1.15 at 66.14/cwt.

Corn May unch 376; Jly unch 383; Dec unch 400 (397-402) Bean May +1 966; Jly +1 969; Nov unch 953 (945-58) Meal May +1 312; oct unch 309 Oil -4 3176 Wheat May +4 494; Jly +2 491 (486-93) KC -4 514; MGE -7 546 Oats -3 258 Rice -13 996

LC Apr +7 16080; Oct +60 15097; Dec +72 15177 FC Apr +57 21580; Aug +45 21467; Nov +60 21255 LH May +157 7102; Jun +90 7637; Oct +117 7152 Milk Apr +11 1578; May +26 1588

US$ -.7%

Dow -7 18106 SP -2 2105 NAS -3 5008 Tran +4 8708 VIX -.24 12.60

WTI +32 5671 Brent +38 6370 Gas unch 194 NG +7 268 HO +2 191 Eth unch 159 Gold -3 1198 Slvr -1 1626

2-yr -.016 0.488% 5-yr -.021 1.303% 10yr -.005 1.895% 30yr +.022 2.578%

Blue Grass Stockyards Cattle Weekly Summary Report for the week ending 04/14/15

Receipts: 2656 Last Week: 3135 Year Ago: 2559 Compared to last week steer calves sold mixed with middleweights 3.00 to 7.00 lower with light to moderate demand; however 700-800 lbs 5.00 to 7.00 higher with good demand. Yearling loads sold steady to 2.00 higher with moderate demand. Heifer calves sold mixed with stocker calves under 600 lbs 5.00 to 8.00 lower with light demand over 600 lbs sold steady with good demand. Average to good quality offering this week. Softer market for fleshy middleweight stocker calves this week due to widespread rain, flooding, and muddy conditions. Slaughter cows sold 1.00 to 2.00 higher with moderate demand. Slaughter bulls sold 2.00 to 3.00 higher with good demand.

Total supply included 06% slaughter cows, 01% slaughter bulls, 01% replacements and 92% feeders. Feeder supply 42% steers, 18% bulls, 40% heifers with 40% of feeders weighing over 600 lbs.

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Tagged Post Topics Include: Economics, Market updates


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