Market Closes - January 20, 2015
Posted on Jan 20, 2015Cattle futures closed strongly lower but well above the day’s lows. Much of the selling came from the long liquidation by the funds. Choice carcasses down 1.18 at 258.24; Select down 1.02 at 248.83. The February LC contract is around $10/cwt discount to last week’s average cash market price.
Lean Hog futures losses were severe when the pit trade ended at 1 pm. However, futures have moderated some this afternoon with a stronger pork market. Pork values turned around to close strongly higher with FOB Plant Pork up 1.38 to 85.91 with stronger values for bellies, hams and loins. With general weakness in commodity markets, it’s hard to find buyers who want to fight the sharp down trend in Lean Hogs.
Corn Mar +3 390; Jly +3 404; Dec +2 417 (410-17) Bean Mar -10 982; Jly -10 993; Nov -8 967 (958-70) Meal Mar unch 326; Oct -1 314 Oil -55 3284 Wheat Mar +4 537; Jly +6 544 (530-46) KC +1 578; MGE +5 589 Oats +1 290 Rice -6 1126
LC Feb -140 15305; Apr -187 15107; Oct -132 14637 FC Jan +37 21447; Mar -237 20247; Aug -192 20727 LH Feb -272 7177; Apr -300 limit 7467; Jun -297 8367 Milk Feb +4 1447; Mar +13 1415
US$ +.5%
Dow +4 17515 SP +3 2023 NAS +20 4655 Tran +84 8849 VIX -1.06 19.89 -5%
WTI -248 4665 Brent -66 4818 Gas -4 132 NG -23 290 HO -3 163 Eth +3 138 Gold +17 1294 Slvr +24 1800
2-yr +.016 0.495% 5-yr -.002 1.283% 10yr -.025 1.790% 30yr -.060 2.377%
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Tagged Post Topics Include: Economics, Market updates
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