Market Closes - December 18, 2019
Posted on Dec 18, 2019Corn Mar -3 387; Jly -3 399; Dec -2 400
Bean Jan unch 928; Jly unch 965; Nov +2 968
Meal +1 303
Oil -39 3343
Wheat Mar -8 548; Jly -5 553
KC -5 462; MGE unch 538
Oats -7 299
Rice +10 1278
LC Dec +2 12225; Apr -7 12725; Jun -32 11860
FC Jan -60 14455; Apr -72 14692; Aug -42 15230
LH Feb +5 6990; Apr -17 7722; Jun -30 8905
Milk Jan +41 1737; Feb +38 1745
CBOT futures closed steady to lower as the latest trade deal-led rally stalls out. Pressure came from rain forecasted in South America, the White House indicating no change from the EPA announcement on biofuel blending requirements, and a lack of export sales. The weekly export sales report will be released Thursday morning.
Live Cattle closed near steady while feeder cattle ended slightly lower. Cattle futures have drifted lower this week following last Friday’s big rally. Futures are holding up fairly well considering the sharp drop in Choice boxed beef values. Choice beef fell 3.24 to 209.57 and Select dropped 1.90 to 201.57. Choice-Select spread narrowed to 8.00. A week ago, Choice was 218.65 and Select was 203.72, with a Ch/Sel spread of 14.93.
Lean hog futures ended narrowly mixed with mid-range closes. LH was pressured by lower pork values, but supported by expectations that China will buy more US pork. FOB Plant Pork slid another 1.52 to 77.29 with 8 pct losses in bellies and 5 pct losses in hams. Five days ago, FOB Plant Pork was 81.88.
US$ +.2%
Dow -28 28239
SP -1 3191
NAS +4 8828
Tran -99 10780
VIX +.29 12.58
WTI -7 6080
Brrent +5 6615
Gas unch 169
NG -3 229
HO -1 202
Eth -1 136
Gold -1 1479
Slvr -1 1706
2-yr +.002 1.635%
5-yr +.029 1.740%
10yr +.037 1.926%
30yr +.039 2.355%
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