Market Closes - January 20, 2016

Posted on Jan 20, 2016
CBOT futures closed mostly lower under pressure from the outside markets. Corn managed a penny gain, supported by a few corn export sale announcements the past week. Generally, CBOT futures are weighed down by plentiful supplies and good crops in South America.

The 1:00 pm closing prices for cattle were down sharply, pressured by the collapse in crude oil and stock market indexes. However, those outside markets rallied through the afternoon and this lifted LC and FC futures as well. LC and FC were at/near limit-down levels (-3.00, -4.50) before the recovery began. This increases the chance of a positive move tomorrow. Choice closed up 0.02 at 229.95; Select up 0.44 at 224.14. At midday, Choice was up .76 and Select was up 1.02. There’s a USDA Cattle on Feed Report on Friday; January 1st inventory is expected to be 98.8% of a year ago.

Lean Hog futures closed slightly lower and also improved in the afternoon. February LH actually set a new high and new high close for the Dec-Jan rally. FOB Plant Pork gained .92 to 74.35 on stronger values for ham, bellies and ribs.

Corn Mar +1 369; Jly +1 378; Dec +1 390 Bean Mar -9 874; Jly -8 880; Nov -6 882 Meal -1 270 Oil -22 2981 Wheat Mar -3 471; Jly -4 481 KC -5 467; MGE -1 495 Oats -3 204 Rice -3 1084

LC Feb -205 12725; Jun -170 12005; Aug -165 11655 FC Jan -155 15500; Apr -282 14997; Aug -270 15162 LH Feb -12 6272; Apr -65 6707; Jun -37 7782 Milk Jan unch 1375; Feb unch 1372

 

US$ steady Dow -249 15767 -1.5% low 15450 SP -22 1859 -1.2% low 1812 NAS -5 4472 Tran -32 6626 VIX +1.54 27.59 +5.9%

WTI -124 2833 Brent -94 2782 Gas -2 101 NG +4 213 HO -4 87 Eth +1 136 Gold +12 1101 Slvr +3 1415

2-yr -.037 0.829% 5-yr -.047 1.425% 10yr -.041 1.995% 30yr -.040 2.766%

Tagged Post Topics Include: Economics, Market updates