Market Closes - May 29, 2014
Posted on May 29, 2014Although boxed beef lost value today, gains made the last few days have given traders confidence that beef demand warrants steady to better cash prices. The June LC contract remains at a discount to the latest trade. Choice Beef closed down .66 to 233.65/cwt.
Lean Hog futures closed narrowly mixed when the pit closed but continued higher in afternoon e-trade. Pork weakness weighed on the nearby June LH contract. FOB Plant Pork closed down 1.50 to 113.75/cwt with weakness across all primal parts.
Treasury yields bottomed mid-morning and rose the rest of the day to end at levels last seen yesterday morning. As yields firmed, so did the stock market. The SP500 Index set a new record HIGH.
Corn Jly -3 469; Dec -6 463 (462-70) Bean Jly +1 1499; Sep +2 1296; Nov +1 1244 (1241-52) Meal Jly unch 498; Oct +1 408 Oil -22 3941 Wheat Jly -6 632 (630-45); Dec -6 664 KC -5 730; MGE -3 714 Oats +12 361 Rice -2 1502
LC Jun +187 13802; Oct +162 14295; Feb +90 14765 FC Aug +147 19705 (hi 19777); Oct +175 19840 LH Jun -25 11430; Aug +12 12490; Dec -35 9465 Milk Jun -33 2070; Jly -33 2024
US$ -.1%
Dow +66 16699 SP +10 1920 NAS +23 4248 Tran +34 8110 VIX -.11 11.57
WTI +81 10353
Brent +27 11008
Gas +1 299
NG -3 459
HO -1 292
Eth +3 238
Gold -5 1254
Slvr -3 1903
2-yr +.012 0.379% 5-yr +.06 1.53% 10yr +.03 2.47% 30yr +.04 3.33%
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Tagged Post Topics Include: Economics, Market updates
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