Market Closes - June 26, 2013

Posted on Jun 26, 2013
CBOT trade was similar to yesterday’s closing prices with JULY corn and soybean futures rising and new-crop contracts losing ground to the JULY.  JULY futures were supported by tight supplies and First Notice Day coming Friday. Strong demand for ethanol and soybean meal is driving nearby price strength. Crashing soybean oil futures (down 6 pct in 5 days) are weighing on soybean prices.

Wheat futures fell sharply on good yield reports and yesterday’s bearish chart action (KC HRW JULY broke support).

LIVE CATTLE futures rallied on optimism fed cattle prices will strengthen later this summer. However, for today, boxed beef values were mixed -- Choice down 1.06 at 196.51; Select up 0.59 at 186.51.

LEAN HOG futures closed little changed as cash hog prices weakened and pork values rose -- FOB Plant Pork Cutout gained $1.45 to $111.33/cwt.

Corn Jly +8 664.5; Sep -2.5 574; Dec -.5 544 (542-550)

Bean Jly +9 1534; Sep -6.5 1317; Nov -2.5 1276 (1267-1279) Meal Jly +4.5 463; Dec +1 385 Oil -51 4663

Wheat Jly -9 667 (666-681); Dec -7 692; Jly14 -6 720 KC -10 694; MGE -10 799

Oats -3 384

Rice +7 1564

LC Jun +12 12127; Aug +105 12217; Dec +60 12737

FC Aug +105 14892; Oct +82 15247; Jan +90 15395

LH Jly -20 9995; Oct -10 8555; Dec unch 8260

Milk Jly +4 1717; Aug -4 1773

US$ +.4%

Dow +150 14910

SP +15 1603

NAS +28 3376

Tran +47 6149

VIX -1.26 17.21

WTI +15 9547

Brent +48 10174

Gas steady 273

NG +8 373

HO steady 285

Eth +2 247

Gold -50 1225

Slvr -105 1847

2-yr -.04 0.39%

5-yr -.07 1.43%

10yr -.07 2.54%

30yr -.04 3.58%

 

Blue Grass Stockyards Cattle Report for 06/25/2013

Receipts:  1,571   Last Tuesday:  1,356   Year Ago:  1,848

**Special Cow Sale Wed. night June 26** ***No Sale next Tues. in observance of Holiday****

Compared to Monday steer calves under 600 lbs sold steady, over 600 lbs sold 2.00 higher with very good demand.  Yearling steers sold steady to 2.00 higher with very good demand.  Heifer calves sold steady except 500-700 lbs 2.00 higher with very good demand.  Yearling heifers sold 2.00 higher in a limited comparison.  Average to good quality offering today.  Slaughter cows sold about steady with good demand.  Slaughter bulls sold firm with good demand.

Total supply included 03% slaughter cows, 01% slaughter bulls, less than 1% replacements and 96% feeders.  Feeder supply 61% steers, 06% bulls, 33% heifers with 80% of feeders weighing over 600 lbs.

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Tagged Post Topics Include: Economics, Market updates