Market Closes - August 21, 2018
Posted on Aug 21, 2018Corn Sep -2 360; Dec -2 374 (373-78)
Bean Sep -7 874; Nov -7 886 (885-95)
Meal -3 325
Oil +5 2859
Wheat Sep -15 527; July -11 575 (574-88)
KC -13 534; MGE -5 589
Oats -4 257
Rice +27 1054
LC Aug +20 10927; Dec +10 11467; Feb -10 11797
FC Aug -45 14917; Oct -35 15092; Jan -30 14952
LH Oct -25 5622; Dec -32 5390; Feb +70 6155
Milk Sep +1 1570; Oct +3 1604
CBOT futures closed lower and near the day’s lows, pressured by large yield estimates from a private crop tour and a lack of friendly market news. Wheat fell sharply for the second day in a row, confirming Monday’s bearish reversal pattern. Chicago wheat made new lows for August, while KC wheat ended near the August lows set last week. The speculative funds have been long wheat futures, but probably are sellers this week. A weaker US dollar and higher outside markets didn’t offer much help to agriculture futures.
Cattle futures closed narrowly mixed and generally mid-range. Recent strength in boxed beef values is supporting Live Cattle. The August LC contract is in line with last week’s cash average. Market reports indicate the feedlot showlists are a little lighter; hopefully, this helps cash trade. Choice beef ended down .41 at 213.57 and Select gained 1.79 to 204.08. The CH/Sel spread is 9.49.
Lean Hog futures also closed narrowly mixed, but in the lower part of the trading range. After Monday’s bearish reversal and sharp losses, traders started the day bargain hunting. However the rally failed by late morning as cash hog prices and pork cutouts dropped. FOB Plant Pork dropped .99 to 66.19.
US$ -.7%
Dow +64 25822
SP +6 2863 (hit new record intra-day high of 2873 today)
NAS +38 7859
Tran +74 11436
VIX +.37 12.86
WTI +92 6735
Brent +52 7273
Gas unch 202
NG +4 298
HO +1 212
Eth -1 135
Gold +5 1200
Slvr +10 1477
2-yr +.017 2.608%
5-yr +.024 2.726%
10yr +.019 2.842%
30yr +.019 3.002%
Bluegrass Stockyard - Lexington, KY
Weighted Average Report for 08/20/2018
Receipts: 630 Last Week: 615 Year Ago: 260
**Annual Internet Roundup and BBQ this Friday 4:00 p.m. - 8:00 p.m.
Compared to last Monday feeder steers and heifers sold steady with good demand on a good through attractive quality offering. Yearling steers and heifers lightly tested. Slaughter cows sold 3.00 higher and slaughter bulls sold 4.00 to 5.00 higher with good demand.
Kentucky Farm Bureau Minute video - Click Here
KENTUCKY CASH GRAIN PRICES – Click Here
KENTUCKY LIVESTOCK AUCTIONS -- Click Here
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