Market Closes - February 26, 2016

Posted on Feb 26, 2016
CBOT futures mostly closed lower – pressured by plentiful supplies, a stronger US Dollar and this week’s USDA Outlook Forum which highlighted the potential for large supplies to continue into 2017.

Cattle futures closed down slightly on profit-taking. Traders still expected cash cattle to trade higher this week. Choice down 1.09 at 217.67; Select down 1.99 at 211.99. These cutouts were near unchanged at midday.

Lean Hog futures closed mixed but well off the day’s lows. Lower cash hog prices weighed on the market. FOB Plant Pork edged down .10 to 74.12, only .16 lower than the midday quote.

Corn Mar -1 354; Jly -1 364; Dec -1 378 Bean Mar -4 855; Jly -2 870; Nov -1 876 Meal -3 257 Oil +38 3103 Wheat Mar -2 443; Jly -3 459; Dec -4 486 KC -4 442; MGE +3 489 Oats unch 171 Rice -4 1039

LC Feb -32 13755; Jun +15 12595; Aug -10 12137 FC Mar -45 15865; May -15 15740; Aug -25 15645 LH Apr -27 7085; Jun +20 8085; Aug +35 7977 Milk Mar +12 1367; Apr +10 1350

 

US$ +.7% Dow -57 16640 SP -4 1948 NAS +8 4590 Tran +35 7405 VIX +.70 19.81 +3.6%

WTI -23 3284 (high 3469) Brent -16 3513 Gas -2 129 (high 134) NG unch 179 HO -2 107 Eth unch 141 Gold -16 1223 Slvr -49 1471

2-yr +.074 0.797% 5-yr +.089 1.240% 10yr +.067 1.764% 30yr +.066 2.640%

Paris Stockyard, Paris, KY Weighted Average Report for Thursday Feb 25, 2016 Cattle Receipts: 1263 Last week: 1899 Last year: 788 Compared to last week: Feeder steers and heifers sold 3.00-5.00 higher, slaughter cows and bulls steady. Receipts: Feeders: 992 Slaughter: 109 Replacements: 162

Bluegrass South Stanford,Ky Cattle weighed at time of sale Weighted Average Report for 02/25/2016 Receipts: 1716 Last Week: 1176 Year Ago: 965 Compared to last Thursday: Feeder steers steady to 2.00 higher, Feeder heifers steady, Good demand for feeder classes. Slaughter cows and bulls mostly steady with good demand. Feeders-1674,Slaughter-36,Replacements-5 Supply included 78 percent over 600 lbs and 23 percent heifers.

Kentucky Farm Bureau Minute video  - Click Here 

KENTUCKY CASH GRAIN PRICES Click Here 

KENTUCKY LIVESTOCK AUCTIONS --  Click Here

Tagged Post Topics Include: Economics, Market updates