Market Closes - April 30, 2013

Posted on Apr 30, 2013
Corn and soybean futures closed down slightly correcting some of Monday’s huge rally. Prices traded higher overnight but couldn’t blow through resistance so futures backed off. Heavy rains this week will continue to delay planting.

Wheat futures closed strongly higher in KC and Chicago on concerns that winter wheat production has been lowered by freeze damage; more freezing temps are expected this week.

Daily futures price limits return to normal for the Wednesday trade date (starts tonight at 7 pm CDT). Corn = 40, Wheat = 60, Soybean = 70 cents

Live Cattle futures traded higher until the April contract expired at noon. Cash cattle may not trade until late week, but boxed beef values increased again today. Choice UP 1.60 at 196.39; Select UP 1.82 at 188.04.

Lean Hog futures closed higher on strong cash hog markets. However, the pork cutout value dropped today.

Corn May -1 683; Jly -10 650; Dec -3 557 (hi 570) Bean May -4 1468; Jly -10 1399; Nov -6 1223.5 (hi 1240) Meal May -3 428; Oct -1.6 345.5 Oil -33 4913 Wheat May +12 722; Jly +14.5 731 (hi 737); Dec +14 754   KC Jly +14 789.5; MGE +3 822 Oats +1 392 Rice +19 1485

LC Apr +30 12800 LAST DAY; Jun -65 12190; Dec -72 12735 FC May -87 13955; Aug -97 14890; Oct -82 15240 LH May +80 9010; Jly +40 9290; Oct +55 8235 Milk May +6 1868; Jun -4 1954

 US$ -.5% Dow +21 14840 SP +4 1598 NAS +22 3329 Tran +28 6178   VIX -.19 13.52

WTI -137 9313 Brent -212 10169 Gas -3.5 279 NG -5 434.5 HO -4 283 Eth -2 244.5

Gold +9 1476 Slvr +15 2432

2-yr unch 0.21% 5-yr unch 0.68% 10yr unch 1.67% 30yr unch 2.88%

Blue Grass Stockyards                                            Cattle Report for 04/30/2013  Receipts:  1,720   Last Tuesday:  1,229   Year Ago:  1,136    Compared to Monday, steer calves sold steady to weak on a plain to average quality offering with moderate demand.  Heifer calves under 600 lbs sold 3.00 lower with moderate demand on a plain to average quality offering; over 600 lbs sold steady.  Yearling steers no comparison with yesterday however compared to last week sold 2.00 to 3.00 higher with good demand.  Yearling heifers no comparison.  Slaughter cows and slaughter bulls sold steady with moderate to good demand.

   Total supply included 05% slaughter cows, less than 01% slaughter bulls, less than 01% replacements and 94% feeders.  Feeder supply 55% steers, 10% bulls, 35% heifers with 66% of feeders weighing over 600 lbs.

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Tagged Post Topics Include: Economics, Market updates