Market Closes - June 15, 2017

Posted on Jun 15, 2017

CBOT futures traded fairly wide ranges today and closed at/near the day’s highs. Markets opened near steady Wednesday evening, trended lower into the 745-830 am break in trading, and set the day’s lows soon after the market reopened, only to rally the rest of the day to close with gains. The spec funds were buyers, especially in the wheat market which had the best gains at the CBOT.  Less than ideal weather encourages short-covering.

Cattle futures closed mixed with the nearby June LC contract down a sharp $2.00 on much lower cash trade this week ($128 in KS) and a weaker boxed beef market. Feeder cattle managed small gains. Choice carcasses down 1.29 at 249.74; Select down 0.13 at 220.53. Both LC and FC contracts are testing chart support that goes back to late April.  

Lean Hog futures closed lower to sharply lower as LH futures traded very wide ranges as a result of an abrupt crash in futures about 10:10 am CT, which was followed by about a $1.00 recovery.

Fundamentals were mixed with firm cash hog prices and weaker pork cutouts.  FOB Plant Pork dropped .17 to 94.90.

Corn Jly +3 380; Dec +3 399 (388-400)

Bean Jly +6 938; Nov +7 946 (932-46)

  Meal Jly unch 302

  Oil +58 3267

Wheat Jly +11 454 (437-57); Dec +11 490

  KC +9 466; MGE +3 631

Oats +6 261

Rice +27 1130

LC Jun -200 12250; Oct -10 11470; Dec +2 11555

FC Aug +95 14707; Oct +75 14485; Jan +12 13767

LH Jly -52 8205; Oct -137 6720; Dec -132 6177

Milk Jun +2 1633; Jly -15 1646

US$ +.6%

Dow -15 21360

SP -5 2432

NAS -29 6166

Tran +22 9409

  VIX +.26 10.90

 

WTI -49 4424

Brent -23 4677

Gas unch 144

NG +12 305

HO unch 141

Eth +2 157

Gold -20 1253

Slvr -42 1672
 

2-yr +.012 1.355%

5-yr +.037 1.762%

10yr +.026 2.164%

30yr +.004 2.787%
 

Lexington, KY - Blue Grass Stockyards
Cattle Weekly Summary Report for the week ending 06/13/17
      Receipts:  954   Last Week:  1199   Year Ago:  939
Compared to last week middleweight steer and heifer calves 400-600 lbs sold steady to 3.00 lower with moderate demand on an average through good quality offering.  Lighter receipts this week and more average quality offerings on the market as many farmers were finishing up hay chores before rain that was forecasted mid-to-late week. Quality was average through good.  Light test of heavy yearlings however 600-800 lb yearling loads were in very good demand this week.  Slaughter cows sold 1.00 to 2.00 lower with moderate demand. Slaughter bulls sold steady with moderate demand. 

Kentucky Farm Bureau Minute video  - Click Here

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KENTUCKY LIVESTOCK AUCTIONS --  Click Here