Market Closes - February 5, 2016
Posted on Feb 6, 2016Cattle futures closed lower with feeder futures down sharply, adding to the losses posted yesterday. Selling was encouraged by the severe weakness in the US stock market this morning. Since Live Cattle have been in a 3-week rally, traders may have booked profits amid the general economic uncertainty. The boxed beef market followed the lead of CME futures in late-day trading. Choice carcasses ended down 2.43 at 220.60; Select down 1.97 at 216.51. These losses are much more severe than the values quoted at midday – 222.50 for Choice and 218.45 for Select.
Lean Hog futures closed mixed with little change. LH futures held up well in the face of bearish outside markets and sharp losses in cattle futures. FOB Plant Pork closed up 1.05 at 77.57 with strength in all cuts except picnics. The midday quote was 76.86.
Corn Mar -3 366; Jly -3 376; Dec -2 389 Bean Mar -7 867; Jly -6 878; Nov -5 883 Meal -3 265 Oil -1 3123 Wheat Mar -6 467; Jly -6 476 KC -6 454; MGE -3 491 Oats +1 197 Rice +7 1112
LC Feb -102 13605; Jun -75 12405; Aug -30 12062 FC Mar -270 15382; May -235 15305; Aug -277 15355 LH Feb -32 6480; Apr +5 7030; Jun -35 8042 Milk Feb -11 1382; Mar -12 1396
US$ +.5% Dow -212 16205 SP -35 1880 NAS -146 4363 Tran -108 6943 VIX +1.54 23.38 +7%
WTI -56 3172 Brent -58 3446 Gas +1 103 NG -7 197 HO steady 108 Eth steady 141 Gold +16 1174 Slvr +18 1503
2-yr +.012 0.726% 5-yr -.008 1.242% 10yr -.027 1.837% 30yr -.025 2.673%
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Tagged Post Topics Include: Economics, Market updates
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