Market Closes - January 29, 2013
Posted on Jan 29, 2013Cattle futures closed lower today in profit-taking following Monday’s huge rally. Cattle prices are not getting any help from boxed beef. Cutout values dropped -- Choice DN 0.72 at 186.89; Select DN 1.32 at 181.10.
Lean Hog futures closed mixed. The February contract closed weak, but pork values closed very strong; Pork Cutout is UP 0.95 to $86.58/cwt.
Optimism about the economy and the U.S. stock market continues to pressure Treasury prices which means yields are rising. The FOMC’s announcement tomorrow afternoon could influence this market.
Corn Mar unch 729; Jly unch 720; Dec -3 587 Bean Mar +4 1452; Jly +7 1429; Nov +3 1313 Meal Mar +3 424; Oct +1 368 Oil -18 5171 Wheat Mar -2 777; Jly -1 791 KC -2 831; MGE -5 861
LC Feb -67 12827; Apr -42 13297; Oct -7 13292 FC Jan unch 14580; Apr -92 15237; Aug -70 16065 LH Feb -7 8710; Apr +57 8962; Jly +57 9820 Milk Jan -2 1810; Feb -8 1694
Oats -1 360 Rice +17 1552
US$ -.3%
Dow +72 13954 SP +8 1508 NAS -1 3154 Tran -1 5875 VIX -.26 13.31
WTI +93 9737 Brent +63 11411 Gas +3 297 NG -6 323 HO +5 311 Eth steady 240.5
Gold +9 1506 Slvr +62 3140
2-yr +.004 0.289% 5-yr +.016 0.885% 10yr +.037 2.002 30yr +.042 3.187%
The CME Group said today that due to customer feedback it WILL REDUCE AGRICULTURAL FUTURES TRADING HOURS in the coming weeks but has not settled on the exact hours. It is also willing to temporarily halt trading during the release of USDA reports if all trading venues do the same.
Blue Grass Stockyards Cattle Report for 01/29/2013 Receipts: 772 Last Tuesday: 835 Year Ago: 1,830
Compared to Monday, steer calves sold 2.00 higher with good demand. Heifer calves sold 1.00 higher with good demand. Yearling steers and heifers no comparison with yesterdayÂ’s light test. Slaughter cows and sold steady with moderate demand. Slaughter bulls sold steady to 1.00 higher with good demand.
Total supply included 05% slaughter cows, less than 01% slaughter bulls, less than 01% replacements and 94% feeders. Feeder supply 41% steers, 15% bulls, 44% heifers with 60% of feeders weighing over 600 lbs.
CONSUMER CONFIDENCE DROPPED SHARPLY IN JANUARY U.S. consumer confidence dropped in January to its lowest level in more than a year as Americans were more pessimistic about the economic outlook and their financial prospects, according to a private sector report released on Tuesday. The Conference Board, an industry group, said its index of consumer attitudes fell to 58.6 from an upwardly revised 66.7 in December, falling short of economists' expectations for 64. It was the lowest level since November 2011. The index for December was originally reported as 65.1.
Tagged Post Topics Include: Economics, Market updates
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