Market Closes - January 15, 2013 - Kentucky Farm Bureau

Market Closes - January 15, 2013

Posted on Jan 15, 2013
 The CBOT commodities did not move in sync today. Wheat rallied sharply on continued spec fund short-covering encouraged by Friday’s bullish winter wheat plantings report and weather concerns (winter kill, dry soils). U.S. wheat is competitive in world export market. Corn futures rallied on export business and in sympathy with the CBOT Wheat rally – watch the corn-wheat price spread. Buying March Corn increased as price surpassed its 50-day moving average; resistance sits at $7.45, the 100-day moving average. Soybean futures could not follow the grains higher today after the huge soy rally Monday. Traders are keeping an eye on South American weather for threats to their crops.

 Live Cattle futures were little changed today. Choice Beef fell again today and no feedlot trade has been established. February LC remains at a $3-4/cwt premium to the last cash trade. Feeder Cattle futures closed sharply lower as feed costs rise. November Beef Exports were reported yesterday at 200 million pounds, which is down over 10 percent from October 2012 and November 2011. At the same time, beef imports increased about six percent from October.

 Lean Hog futures were little changed as traders wait for more direction in the cash markets.

 Corn Mar +6.5 730.5; Jly +7 721; Dec +5 589

Bean Mar -4.5 1413.5 (1408-1436); Jly -6 1393; Nov -3 1283   Meal Mar -5.6 412; Oct -3.5 362.5   Oil +42 5087

Wheat Mar +16 783; Jly +17 794 (777-802); Dec +16.5 815   KC +15 838; MGE +13 866

LC Feb +7 13042; Apr -32 13442; Oct +5 13337 FC Jan -112 14832; Apr -100 15230; Aug -67 15990 LH Feb +2 8525; Apr -25 8760; Jly -30 9660 Milk Jan -1 1811; Feb +4 1762

Oats +2.5 356.5 Rice unch 1506

Dow +28 13535 SP +2 1472 NAS -7 3111 Tran +39 5640 VIX +.03 13.55

WTI -86 9328 Brent -136 11052 Gas -5 271 NG +8 345.5 HO -5 301 Eth +1 234

Gold +14 1685 Slvr +42 3153

2-yr -.008 0.261% 5-yr -.022 0.752% 10yr -.021 1.837% 30yr -.016 3.026% 

Blue Grass Stockyards                                       Cattle Report for 1/15/2013    Receipts:  1,429   Last Tuesday:  1,665   Year Ago:  798      Compared to Monday, steer calves sold mostly steady; firm on featherweight calves with moderate demand.  Heifer calves sold steady with moderate demand.  Yearling steers and heifers limited comparison. Slaughter cows sold steady with light demand.  Slaughter bulls sold steady with moderate demand.

   Total supply included 04% slaughter cows, less than 01% slaughter bulls, less than 01% replacements and 94% feeders.  Feeder supply 49% steers, 08% bulls, 43% heifers with 62% of feeders weighing over 600 lbs.

 University of KY PESTICIDE NEWS PESTICIDE NEWS AND VIEWS - Links between Certain Fungicides and Parkinson Disease

GREENHOUSE - Sticky card monitoring system for greenhouse pests - Planning checklist for pasture fly control – 2013 View report at: www.ca.uky.edu/agcollege/plantpathology/extension/kpnindex.htm

Tagged Post Topics Include: Economics, Market updates


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