CBOT futures closed mixed with the sharp drop in the soy complex standing out today. Soybeans trended lower from the time the market opened Tuesday evening, closing at/near the day’s lows. The selling was encouraged by rains in Argentina and forecasts for more. Soybeans have fallen to the November lows, so futures are at an important level; breaking below the 200-day moving average is negative as well.  Corn futures managed steady closes but remain near the contract lows established on Tuesday. Funds still have a very large short positions in corn and wheat. Wheat firmed today on good export sales and continued dry conditions in the southern Plains.

Cattle futures closed slightly higher today, but continue a generally sideways patter for the week as traders wait for the cash market to be established. Choice down 1.44 at 201.04; Select down 1.33 at 183.69.  At midday, Choice was up .63.

Lean Hog futures closed near steady in last-half 2018 contracts to moderately higher in nearby months. Buyers were encouraged by very strong weekly pork export sales and a drop in average slaughter weights. FOB Plant Pork rose .80 to 77.31.

Corn Mar unch 348 (348-51); Jly unch 365; Dec unch 381

Bean Jan -11 968 (966-81); Jly -11 999; Nov -10 987

  Meal -5 322

  Oil -3 3318

Wheat Mar +1 418; Jly +1 443 (442-47)

  KC +2 418; MGE +4 617

Oats +3 252

Rice -5 1171

 

LC Dec +62 11627; Apr +10 12030; Jun +5 11335

FC Jan +60 14625; Apr +67 14470; Aug +75 14670

LH Dec +7 6402; Feb +82 6762; Apr +77 7225

Milk Dec -10 1551; Jan +20 1470

US$ +.2%

Dow -77 24509

SP -11 2652

NAS -19 6856

Tran -71 10328

  VIX +.31  10.49

 

WTI +44 5704

Brent +97 6341

Gas +2 167

NG -3 268

HO unch 191

Eth -2 127

Gold +8 1257

Slvr +6 1593

 

2-yr +.033 1.815%

5-yr +.028 2.138%

10yr unch 2.349%

30yr -.029 2.706%

 

Lexington, KY - Blue Grass Stockyards
Cattle Weekly Summary Report for the week ending 12/05/17

Receipts:  2478   Last Week:  3548   Year Ago:  1968
**Total receipts include 603 head sold in CPH sale Wed. night.

Compared to last week steer and heifer calves sold steady to firm with good demand.  Yearling steers sold 1.00 to 2.00 lower with good demand.  Quality was average through good.  Slaughter cows sold 1.00 to 2.00 lower with light demand and slaughter bulls sold steady with moderate demand.

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