CBOT futures closed little changed with corn and soybeans closing near the day’s lows. The days’ highs came early in the day. Corn futures traded higher and lower than Friday’s market and closed lower – a somewhat negative chart formation. Today’s report of a bird flu case in a Tennessee chicken flock is a “caution flag”; a significant spread of bird flu would decrease feed demand.  Wheat futures closed a nickel higher on support from dry weather in the southern Plains.

Cattle futures closed slightly lower after trading both sides. Although fed cattle traded near $125 last week and boxed beef firmed today, traders were cautious about where cash prices may end up this week. Choice up 1.53 at 209.60; Select down 0.09 at 203.96. 

Lean hog futures bolted higher at the open, but had peaked by 9 am and moved to the day’s lows near the unchanged level shortly after 11 am. The selling occurred despite a stronger pork market. FOB Plant Pork closed up 1.90 at 82.53 as butts gained 3% and bellies jumped 5% to 145.11.
 

Corn May -2 378; Jly -2 385; Dec -1 398 (396-401)

Bean May unch 1037; Jly unch 1046; Nov unch 1022 (1020-30)

  Meal +1 334

   Oil -11 3427

Wheat May +5 458; Jly +5 473 (470-77)

  KC +2 474; MGE -5 542

Oats +3 245

Rice -1 957

 

LC Apr -42 11555; Jun -47 10627; Aug -20 10207

FC Mar -15 12407; May -20 12220; Aug unch 12435

LH Apr +42 6717; Jun +30 7675; Aug +35 7725

Milk Mar -5 1589; Apr -8 1584

US$ +.1%

Dow -51 20954

SP -8 2375

NAS -22 5849

Tran -71 9420

  VIX +.28 11.24

 

WTI -13 5320

Brent +3 5593

Gas +2 167

NG +7 290

HO +1 160

Eth -1 151

Gold -1 1225

Slvr +3 1772

 

2-yr +.004 1.309%

5-yr +.005 2.022%

10yr +.008 2.500%

30yr +.022 3.105%
 

Kentucky Weekly Livestock Summary 
for the week of Feb 27-Mar 4, 2017
 Receipts
  This Week            Last Week         Last Year
    15,196               20,802            21,797

Compared to last week, steer calves below 500 lbs sold 3.00 to 6.00 higher, above 500 lbs sold mostly steady to 3.00 higher. Heifer calves below 500 lbs were 2.00 to 5.00 higher, above 500 lbs steady to 3.00 higher.  Demand was moderate to good for a good through attractive offering.  Yearlings were unevenly steady with moderate to good demand. Slaughter cows and bulls sold mostly steady to 3.00 higher with good demand.

In the feeder supply, steers made up approximately 44 percent and heifers approximately 37 percent.  Feeder cattle over 600 lbs totaled approximately 42 percent.   

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