Market Closes - December 18, 2019

Posted on Dec 18, 2019

Corn 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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