Market Closes - January 23, 2018

Posted on Jan 23, 2018

CBOT 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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