CBOT futures closed lower except for nearby soybean and soybean meal contracts. Pressure originated with weak outside markets and expectations for improved weather to advance corn planting. See the NWS maps at http://www.cpc.ncep.noaa.gov/products/predictions/610day/index.php

MGE spring wheat futures are gaining on CBOT and KC wheat due to the heavy snow cover which should delay seeding and could reduce acreage. Next Monday’s crop condition report should give a better measure of freeze damage in the KS/OK/TX area. More freezing temps are expected tonight.

Live Cattle futures rallied at the open but were unable to hold those gains. Monday afternoon’s cold storage report may have weighed on the market but boxed beef values have improved the first two days of the week. Feeder futures closed higher on short-covering as feed costs slide lower. Choice UP 0.63 at 191.41; Select UP 0.11 at 183.78.

Lean Hog futures edged higher but with futures trading at such a premium to cash hog price, it suggests there’s limited upside potential until cash prices show strength.

Corn May -7 638.5; Jly -9.5 614; Dec -10 523 Bean May +2.5 1420; Jly -6 1358.5; Nov -6.5 1196   Meal May +2 412; Oct -2 336   Oil -5 4857 Wheat May -5 697; Jly -7 695.5; Dec -7 717   KC Jly -4 738.5;  MGE -2 801 Oats -2 390 Rice -4 1506

LC Apr +22 12620; Jun unch 12082; Dec +10 12625 FC Apr +12 13375; May +100 13960; Aug +215 14812 LH May +25 8782; Jly +40 9002; Oct +10 8020 Milk Apr -3 1759; May -30 1862 

US$ +.5% Dow +152 14719 SP +16 1579 NAS +36 3269 Tran +17 6068   VIX -.91 13.48

WTI +39 8958 Brent +6 10045 Gas -5 272 NG -4 423 HO unch 281 Eth -3 243

Gold -8 1413 Slvr -44 2288

2-yr unch 0.23% 5-yr +.01 0.70% 10yr +.01 1.71% 30yr +.02 2.90%

Blue Grass Stockyards    Cattle Report for 04/23/2013 Receipts:      1,229   Last Tuesday:  1,567   Year Ago:      1,094    Compared to Monday, steer and heifer calves sold mostly steady with moderate  demand.  Yearling steers limited comparison with yesterday however compared to last week sold 1.00 to 2.00 higher with good demand especially 900 lbs cattle.  Yearling heifers lightly tested.  Mostly average to good quality offering today. Slaughter cows sold steady to 1.00 lower with moderate demand. Slaughter bulls sold steady moderate demand.    Total supply included 05% slaughter cows, less than 01% slaughter bulls, less than 01% replacements and 94% feeders.  Feeder supply 50% steers, 15% bulls, 36% heifers with 63% of feeders weighing over 600 lbs.

 KENTUCKY CASH GRAIN BIDS – Click Here