Market Closes - August 8, 2018

Posted on Aug 8, 2018

Corn Sep unch 371; Dec unch 385 (384-87)

Bean Sep +4 900; Nov +5 910 (898-914)

  Meal +4 335

   Oil -16 2859

Wheat Sep +2 570; Jly +4 609 (601-14)

  KC +5 584; MGE +5 633

Oats +8 264

Rice -26 1065

 

LC Aug -25 10982; Dec +15 11452; Feb +5 11720

FC Aug +80 15065; Oct +47 14997; Jan +7 14985

LH Aug -100 5480; Oct -157 4840; Dec -125 4437

Milk Aug +3 1486; Sep +11 1570

CBOT futures closed steady to higher but little changed on the day except for the OATS contract. Corn traded a small price range but beans and wheat had double-digit trading ranges. Traders are generally getting positioned for Friday’s midday USDA crop reports, including the year’s first sample-based estimate of US corn and soybean yields. The U.S. and China both put in new tariffs.

Cattle futures closed slightly higher on a lack of market direction from cash trade. The online exchange was bid $112/cwt today with no trade. Live cattle futures are only a dollar/cwt below the past week’s highs. Choice beef rose .24 to 205.73 and Select gained .35 to 198.86.

The story hasn’t changed for Lean Hog futures – down we go to new contract lows. Rising market receipts, lower cash hog prices and pork cutouts all contribute to falling prices. FOB Plant Pork dropped 1.08 to 70.97 with losses in all cuts except the picnic.  Speculators may be record short LH futures, so at some point they will rally the market on profit-taking.

 

US$ -.1%

Dow -45 25584

SP -1 2858

NAS +5 7888

Tran -43 11175

  VIX -.08 10.85

 

WTI -223 6694

Brent -238 7227

Gas -8 202

NG +5 295

HO -5 212

Eth -3 139

Gold +3 1221

Slvr +6 1543

 

2-yr unch 2.674%

5-yr -.006 2.835%

10yr -.009 2.964%

30yr -.005 3.113%

Bluegrass Stockyards - Lexington, KY (Tues.)
Weighted Average Report for 08/07/2018

  Receipts:  590    Last Week:  533    Year Ago:  1403
Compared to last Tuesday steer calves under 500 lbs sold 3.00 higher with good demand; over 500 lbs sold mostly steady with good demand. Heifer calves under 500 lbs sold 3.00 higher with good demand; over 500 lbs mostly steady with good demand.  Slaughter cows and slaughter bulls sold steady with moderate demand. 

Kentucky Farm Bureau Minute video  - Click Here

KENTUCKY CASH GRAIN PRICES Click Here

KENTUCKY LIVESTOCK AUCTIONS --  Click Here