Market Closes - April 6, 2017

Posted on Apr 6, 2017

CBOT futures closed lower on across-the-board fund selling – adding to their short positions. With large supplies available, there’s nothing to get buyers excited.  But even with today’s losses, only MGEX wheat futures moved to new lows.

Cattle futures closed higher in follow-through strength to yesterday’s market turnaround. However, with weaker boxed beef values and lower cash cattle prices, traders are reluctant to move prices much higher. Choice down 1.81 at 207.90; Select down 0.23 at 200.28.  

Lean Hog futures opened close to unchanged but turned higher mid-morning and kept rallying into the close (except for the nearby April LH). Futures strengthened despite weaker cash hog and pork values. Traders appear to be optimistic for strong demand through spring.  Weekly exports were stronger and USMEF reported February pork exports were record large in volume terms.

 

Corn May -4 361; Jly -4 368; Dec -3 386 (385-90)

Bean May -3 941; Jly -2 953; Nov -3 951 (947-56)

  Meal -1 309

   Oil -46

Wheat May -6 423; Jly -6 436 (434-43)

  July KC -5 433; MGE -3 529

Oats -4 219

Rice unch 1018

 

LC Apr +52 11880; Aug +77 10637; Oct +62 10620

FC Apr +142 13195; Aug +155 13370; Oct +145 13262

LH Apr +30 6392; Jun +167 7370; Aug +127 7362

Milk Apr -18 1514; May -23 1513

US$ +.2%

Dow +15 20663

SP +5 2357

NAS +14 5879

Tran +38 9134

VIX -.50 12.39

 

WTI +55 5170

Brent +56 5492

Gas +1 173

NG +6 333

HO +1 161

Eth unch 165

Gold +5 1250

Slvr +6 1825

 

2-yr -.008 1.242%

5-yr -.008 1.860%

10yr -.016 2.341%

30yr -.019 2.986%

 

Lexington, KY - Blue Grass Stockyards Cattle Weekly Summary Report for the week ending 04/04/17

Receipts:  1803   Last Week:  1650   Year Ago:  2014

   Compared to last week steer calves under 550 lbs sold steady to 3.00 lower over 550 lbs sold steady to 3.00 higher with good demand. Heifer calves under 600 lbs sold 2.00 to 4.00 lower with moderate demand; over 600 lbs sold steady to firm with very good demand for replacement quality packages.  Softer undertone for lightweight calves in the marketplace this week.  Slaughter cows and slaughter bulls sold steady with good demand.

 

Farmers Say Average Corn Breakeven is $3.69

AgWeb.com

http://www.agweb.com/article/farmers-say-average-corn-breakeven-is-369-naa-ben-potter/
 

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