Market Closes - July 20, 2017

Posted on Jul 20, 2017

CBOT futures closed strongly higher, led by the corn market.  Support stemmed from continued weather concerns. The NWS expects August to have above-normal temperatures across the eastern U.S. with no bias on moisture.  Today’s 0.5% drop in the US Dollar Index added support, as did a strong weekly soybean export sales report.

Cattle futures opened steady with Wednesday’s market, tried to move higher, but quickly turned south. Losses expanded near the closing bell.  Traders appeared to turn cautious on a lack of cash trade ahead of Friday’s Cattle on Feed Report.  Boxed beef closed steady with Choice down 0.08 at 207.65; Select up 0.09 at 195.58. 

Lean Hog futures followed the pattern in cattle futures, resulting in lower closes in the nearby August and October contracts. FOB Plant Pork closed down .67 to 104.02 with gains in the belly value offsetting big losses in values of the butt, picnic and rib cuts.

Corn Sep +8 391; Dec +8 405 (394-407)

Beans Aug +13 1013; Nov +14 1027 (1008-31)

  Meal +4 330

  Oil +51 3397

Wheat Sep +3 506; Dec +2 529; Jly +2 564 (554-64)

   KC +3 504; MGE +2 778

Oats +3 296

Rice +13 1200

 

LC Aug -140 11587; Dec -157 11810; Feb -112 11920

FC Aug -222 15227; Oct -210 15085; Jan -220 14617

LH Aug -147 8110; Oct -95 6785; Dec unch 6295

Milk Jly -6 1550; Aug -26 1629

US$ -.5%

Dow -29 21612

SP unch 2473

NAS +5 6390

Tran -93 9483

   VIX -.21 9.58

 

WTI -35 4697

Brent -37 4933

Gas -1 161

NG -3 303

HO unch 155

Eth unch 154

Gold +2 1244

Slvr unch 1625

 

2-yr unch 1.356%

5-yr -.001 1.820%

10yr -.007 2.261%

30yr -.019 2.826%

 

Lexington, KY - Blue Grass Stockyards
Cattle Weekly Summary Report for the week ending 07/18/17
    Receipts:  1268   Last Week:  1617   Year Ago:  972

Compared with last week steer and heifer calves sold mostly steady with moderate demand except good quality middleweight heifers sold 2.00 higher with good demand.  Quality was average through attractive. Yearling steers sold firm with good demand. Slaughter cows sold 1.00 to 2.00 lower with moderate demand. Slaughter bulls sold steady.

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