Market Closes - January 23, 2018
Posted on Jan 23, 2018CBOT futures closed mixed. Soybean futures recovered from an early morning sharp decline to close higher for the seventh straight trading day. Soybean Oil futures finally closed higher on short-covering. Corn futures rallied in the final minutes to keep the day’s losses to a minimum. Corn and wheat futures both were pressured by profit-taking following recent price gains.
Cattle futures closed higher as the market continued to be supported by the inclement weather and ideas the cash market will firm this week. Boxed beef values were also supportive. Choice carcasses up 1.78 at 206.85; Select up 0.64 at 200.16. The monthly Cattle on Feed Report will be released Friday.
Lean Hog futures closed lower except for the nearby February LH contract. The February LH was supported by strength in the pork market. FOB Plant Pork closed up .86 at 83.03, compared to 83.38 at midday.
Corn Mar -1 351 (349-52); Jly -1 368; Dec -1 385
Bean Mar +2 986 9979-89); Jly +2 1008; Nov +1 1002
Meal +1 340
Oil +36 3252
Wheat Mar -4 421; Jly -4 448 (446-51)
KC -5 423; MGE -2 604
Oats +5 270
Rice +2 1220
LC Feb +117 12472; Apr +82 12480; Jun +75 11630
FC Jan +72 14862; Apr +125 14772; Aug +147 15020
LH Feb +45 7225; Apr -47 7465; Jun -67 8395
Milk Jan unch 1389; Feb -9 1351
US$ -.3%
Dow -4 26211
SP +6 2839
NAS +52 7460
Tran -13 11345
VIX +.07 11.10
WTI +90 6447
Brent +89 6992
Gas +3 191
NG +32 354
HO +3 209
Eth unch 133
Gold +9 1341
Slvr +6 1704
2-yr -.033 2.040%
5-yr -.046 2.415%
10yr -.046 2.617%
30yr -.030 2.897%
Lexington Auction
Weighted Average Report for 01/22/2018
Receipts: 1354 Last Week: 208 Year Ago: 890
Compared to last Monday's light test steer calves sold 5.00 to 8.00 higher with most advance on lightweight calves on an active market with very good demand. Heifer calves sold 2.00 to 5.00 higher with good demand. Quality was good through attractive. Some farmer participation in the market today also increased demand. Yearlings no comparison with last week's light test however good demand for yearlings today on this active market. Slaughter cows sold steady to 1.00 higher with moderate demand. Slaughter bulls sold 4.00 higher with good demand.
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