CBOT futures closed little changed today as significant market news is absent. However, soybean and wheat futures traded wide ranges.  Technically, futures action looks to me like prices could move lower short-term.  December Corn closed below last Friday’s close.  Wheat futures rallied overnight on potential export business but closed near the day’s lows and as they have for the past 3 days, closed just above chart support.

Cattle futures also closed with minimal changes as the cash markets haven’t traded but are not likely to increase from last week.  CHOICE Beef dropped 45 cents to $202.56/cwt.

Weak cash hog markets continued to pressure LH futures.  The nearby December contract traded below the 85.50 chart support but managed to close above it.  This market seems vulnerable to lower prices short-term. The pork cutout recovered some of yesterday’s huge losses.

Corn Dec -3 426; Jly -4 452; Dec14 -3 466 Bean Jan -1 1313; Jly unch 1276; Nov unch 1177 Meal Dec +1 425; Jly unch 395 Oil +1 4097 Wheat Dec -1 645 ; Jly -2 659 KC +1 703; MGE unch 700 Oats +4 340 Rice +24 1584

LC Dec +22 13297; Feb +2 13452; Jun +10 12905 FC Nov +17 16502; Jan +55 16520; Apr +30 16565 LH Dec -77 8560; Feb -97 8980; Jun -37 9847 Milk Nov -4 1881; Dec +12 1813

US$ unch Dow +55 15876 SP +9 1791 NAS +7 3973 Tran +19 7161 VIX -.15 12.37

WTI +7 9395 Brent +142 10854 Gas +5 268 NG +5 361 HO +3 293 Eth +1 178

Gold +18 1286 Slvr +30 2074

2-yr -.01 0.30% 5-yr -.03 1.33% 10yr -.05 2.69% 30yr -.04 3.78%

Blue Grass Stockyards Cattle Weekly Summary Report for the week ending 11/13/13

Receipts:  4,173   Last Week:  5,355   Year Ago:  4,954

Compared to last week steer and heifer calves opened steady to 3.00 lower Monday however market rallied after lunch Monday as calf quality improved closing steady.  Featherweight unweaned calves in very light demand this week trading 3.00 to 7.00 lower due to erratic temperatures.  Yearling steers and heifers sold steady with very good demand.  Slaughter bulls sold 2.00 lower with light moderate demand.  Slaughter cows sold 1.00 to 3.00 lower with moderate demand.

Total supply included 08% slaughter cows, 01% slaughter bulls, 01% replacements and 90% feeders.  Feeder supply 36% steers, 21% bulls, 43% heifers with 48% of feeders weighing over 600 lbs.

KENTUCKY CASH GRAIN BIDS – Click Here