Market Closes - December 10, 2012
Posted on Dec 11, 2012Soybeans traded wide ranges of 20-25 cents. The day’s lows came at the 9:30 a.m. opening and the market rallied throughout the day to close near the day’s highest price. Strong weekly soybean export inspections were supportive. Soybean futures may be helping to keep the losses in the corn and wheat pits from being larger.
Live Cattle futures dropped hard on the opening bell today in follow through to Friday’s weak cash cattle market. However, strength in today’s boxed beef market lifted LC futures off the lows. Choice up 1.10 at 194.05; Select up 0.54 at 172.93. Feeder Cattle futures closed much higher, aided by the corn price drop.
Corn Mar -7 730; Jly -4.5 731; Dec -1 637
Bean Jan +2.5 1475; Jly +10 1451; Nov +5.5 1334.5 Meal Jan +2 445; Oct +2 379 Oil +2 5115
Wheat Mar -12 849; Jly -7 867 KC -6.5 903; MGE -7 927
LC Dec -27 12560; Feb -12 13027; Aug -12 13012
FC Jan +100 14977; Apr +77 15317; Aug +70 15842
LH Dec -15 8215; Feb +45 8392; Jun +20 9840
Milk Dec +1 1852; Jan +6 1813
Oats -2 389
Rice +18 1545
US$ -.2%
Dow +15 1317
SP unch 1418
NAS +9 2987
Tran +55 5183
VIX +.15 16.05
WTI -26 8567
Brent +45 10747
Gas unch 260
NG -13 342
HO -1 291
Eth -2.5 235
Gold +9 1713
Slvr +19 3324
2-yr -.004 0.246% 5-yr -.005 0.621% 10yr -.006 1.622% 30yr -.007 2.801%
Blue Grass Stockyards Cattle Auction Report for 12/10/2012 Receipts: 864 Last Monday: 2,187 Year Ago: 3,009 Compared to last week, steer calves sold steady to 2.00 lower in a light test with light to moderate demand. Heifer calves sold steady with good demand. Yearling steers and heifers sold steady to 1.00 lower with moderate demand. Slaughter cows sold firm with moderate demand. Slaughter bulls sold steady with moderate demand. Total supply included 07% slaughter cows, 01% slaughter bulls, 01% replacements and 91% feeders. Feeder supply 39% steers, 15% bulls, 46% heifers with 60% of feeders weighing over 600 lbs.
Tagged Post Topics Include: Economics, Market updates
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