Market Closes - June 15, 2015

Posted on Jun 15, 2015
Crop futures were under pressure from generally favorable growing conditions in the Corn Belt (the Southeast is under a High pressure blocking rainfall). Soybeans did manage a near steady close on concerns that some acreage won’t get planted in a timely manner. A developing tropical system in the Gulf of Mexico is expected to bring a band of excessive rainfall through east TX/OK, southern MO/IL/IN to Ohio. If it happens, some acreage could be lost.

Corn Conditions – 18 States . Good/Excellent Poor/V.Poor This Week 73% 5% Last Week 74 4 Year Ago 76 4

Soybean Planting Progress . 6/14/15 5-yr average U.S. 87% 90% (91% last year) KY 72% 74% (69% last year)

Soybean Conditions – 18 States . Good/Excellent Poor/V.Poor This Week 67% 6% Last Week 69 5 Year Ago 73 4

Winter Wheat Conditions – 18 States . Good/Excellent Poor/V.Poor This Week 43% 22% Last Week 43% 20% Last year 30% 44%

Wheat Harvested 11% compared to 20% for 5-year average.

Pasture Conditions 65% good/excellent vs 9% poor/v.poor

 

Cattle futures traded both sides of unchanged but closed higher, overcoming last week’s negative cash price drop. The 5-area average was down $2.11 to $153.48/cwt. Choice beef gained 1.61 to 247.33 and Select was up .04 at 240.46.

Lean Hog futures closed sharply lower on plentiful supplies. FOB Plant Pork dropped .25 to 84.61.

Corn Jly -5 348; Dec -6 363 (362-69) Bean Jly -2 938; Nov unch 904 (896-906) Meal Jly -4 313; Oct -1 295 Oil -45 3269 Wheat Jly -14 489 (486-504); Dec -15 510 KC -17 509; MGE -16 545 Oats -3 252 Rice +9 977

LC Jun -27 15217; Oct +30 15350; Feb +47 15382 FC Aug +45 22390; Oct +45 22002; Jan +60 21052 LH Jly -85 7720; Aug -125 7547; Dec -170 6300 Milk Jun -2 1674; Jly -22 1694

 

US$ -.1% Dow -108 17791 SP -10 2084 NAS -21 5030 Tran -41 8376 VIX +1.61 15.39 +11.7%

WTI -36 5960 Brent -126 6261 Gas -3 209 NG +16 291 HO -2 187 Eth -1 146 Gold +7 Slvr +20 1603

2-yr -.021 0.705% 5-yr -.029 1.705% 10yr -.024 2.361% 30yr -.009 3.089%

This Report is now released on Monday instead of Friday. Mon Jun 15, 2015 USDA-KY Dept of Ag Market News Kentucky Weekly Livestock Summary for the week of Jun 8-13 2015. Receipts This Week Last Week Last Year 17,526 20,306 19,348 Compared to last week, feeder steers sold mostly steady to 4.00 lower with instances early in the session 1-2 higher. There was good to very good demand for a plain to good offering. Feeder heifers sold mostly steady to 2.00 lower with a few instances 1.00 to 3.00 higher for heifers below 500 lbs. Demand was good to very good for an average to good offering. Yearling steers and heifers sold steady to 2.00 higher with good to very good demand. Slaughter Cows were 2.00 to 5.00 lower and slaughter bulls steady to 3.00 lower. Demand was moderate to good for all slaughter cattle.

In the feeder supply, steers made up approximately 38 percent and heifers approximately 40 percent. Steers and heifers over 600 lbs totaled approximately 50 percent.

Tagged Post Topics Include: Economics, Market updates