Market Closes - March 16, 2017

Posted on Mar 16, 2017

Corn and soybean futures closed slightly higher in mid-range, while wheat ended mixed by Exchange. Strong export sales for corn and soybeans supported those prices.

Cattle futures closed moderately higher on yesterday’s stronger cash cattle market of $128/cwt – a $3-5 increase over last week.  Boxed beef also moved higher as Choice closed up 1.04 at 222.36; Select up 0.73 at 213.87. Technically, the nearby LC contract gapped higher today and is challenging January highs. Deferred LC and FC traded to new highs last seen in summer 2016.

Lean Hog futures closed slightly lower – for the second day in a row. This comes after stronger markets on Monday and Tuesday. Price weakness followed lower cash hog prices and the pork cutout. FOB Plant Pork closed down .84 at 81.34 with losses in the values of loins, butts, ribs and bellies.

Corn May +2 366; Jly +2 373; Dec +2 387 (385-89)

   New-crop Bean/Corn Ratio = 2.57

Bean May +3 1001; Jly +3 1011; Nov +2 995 (991-99)

  Meal +2 329

  Oil +4 3226

Wheat May unch 436; Jly unch 451 (449-55)

   KC +3 462; MGE +7 553 Jly

Oats -8 249

Rice +15 983

LC Apr +150 11920; Jun +117 10942; Aug +95 10492

FC Mar +132 13055; May +170 12942; Aug +120 13017

LH Apr -17 6990; Jun -15 7867; Aug +10 7850

Milk Mar +2 1568; Apr -28 1496
 

US$ -.2%   100.27

Dow -16 20935

SP -4 2381

NAS +1 5901

Tran -48 9181

  VIX -.42 11.21

 

WTI -11 4875

Brent -7 5174

Gas +1 159

NG -8 290

HO -1 150

Eth +2 156

Gold +26 1227

Slvr +41 1730

2-yr +.020 1.336%

5-yr +.029 2.045%

10yr +.033 2.537%

30yr +.045 3.147%

UK to host emergency wheat freeze damage training

March 16, 2017 – Recent freezing temperatures may have caused damage to Kentucky’s wheat crop. The UK CAFE will host an emergency wheat freeze damage training to help producers assess potential damage and help them make appropriate management decisions.  The training begins with registration at 8 a.m. CDT Tuesday, March 21 at the UK Research and Education Center near Princeton. The program starts at 8:30 a.m.   This program will also be streamed online.   See story here.

Lexington, KY - Blue Grass Stockyards
Cattle Weekly Summary Report for the week ending 03/07/17

Receipts:  1648   Last Week:  1092   Year Ago:  1550

   Compared to last week featherweight steers and heifers sold 5.00 to 10.00 higher with very good demand. Middleweight steers sold mostly steady and middleweight heifers sold steady to 3.00 higher.

Yearlings sold steady with good demand. Good demand for all classes with many good through attractive quality calves on offer.  Price margins between black-hided and red-hided or off-colored calves has narrowed due to increased grass-time demand.  Slaughter cows sold steady to 1.00 lower and slaughter bulls sold steady with good demand.

Kentucky Farm Bureau Minute video  - Click Here

KENTUCKY CASH GRAIN PRICES Click Here

KENTUCKY LIVESTOCK AUCTIONS --  Click Here