Market Closes - August 25, 2015
Posted on Aug 25, 2015Cattle futures opened the day up strongly, but closed mixed at 1 pm; however, futures lost value during the afternoon session. This probably was due to the selloff in U.S. equity markets. Feeder Cattle futures remain “oversold” which could bring in buyers if the “outside” markets improve. Choice Beef ended down .45 at 243.86 and Select is down .18 at 233.80. Note October FC had a $4.05 trading range.
Lean Hog futures closed strongly higher, adding to Monday’s huge gains. The bullish chart reversal and LH futures’ discount to the cash index encouraged buyers. Higher pork values were supportive -- FOB Plant Pork closed UP 1.14 at 89.19, compared to 90.03 at midday. The 2-day price rally has put LH futures near the top end of the July-August trading range.
Corn Sep -3 365; Dec -3 377 (375-87) Bean Sep +1 894: Nov +4 878 (867-89) Meal +1 328 Oil +27 2682 Wheat Sep -8 495; Jly -6 511 (509-26) KC -10 466; MGE -8 497 Oats -3 213 Rice -5 1134
LC Aug -17 14367; Oct -62 14170; Feb -27 14392 FC Aug +7 21090; Oct +85 19575 (19420-19825); Jan +72 18807 LH Oct +167 6750; Dec +147 6347; Feb +97 6772 Milk Sep +4 1646; Oct +5 1653
US$ +.8% Dow -205 15666 (15651-16313) SP -26 1868 (1867-1948) NAS -20 4506 (4506-4690) Tran -128 7467 (7464-7773) VIX -5 36.02 -11.6%
WTI +130 3954 Brent +81 4350 Gas -2 145 NG +3 268 HO +1 140 Eth unch 144 Gold -14 1140 Slvr -11 1465
2-yr +.049 0.617% 5-yr +.070 1.434% 10yr +.087 2.087% 30yr +.092 2.811%
Tagged Post Topics Include: Economics, Market updates
Comments