Market Closes - November 14, 2018

Posted on Nov 14, 2018

Corn Dec unch 367 (366-68); Mar unch 378; Dec19 -1 399

Bean Jan +5 883 (879-87); Mar +5 897; Nov +6 936

  Meal +2 306

  Oil +2 2757

Wheat Dec -5 503; Jly -5 530 (530-40)

  KC -5 481; MGE -2 576

Oats +4 288

Rice +2 1090

 

LC Dec -77 11460; Feb -15 11860; Jun unch 11347

FC Nov unch 14897; Jan unch 14697; Apr -27 14420

LH Dec -30 5700; Feb +17 6235; Jun -55 8207

Milk Nov +4 1457; Dec +9 1490

CBOT futures closed mixed with corn steady, wheat weaker and the soy complex higher. Trade volume was also relatively low, resulting in only a 2-cent range for corn futures. Corn and soybean futures traded inside yesterday’s price ranges. Traders are reluctant to sell soybeans with a chance that the US and China will make some progress on trade heading into the G20 meeting at month’s end. The CBOT also benefitted from an up-day in energy futures and some export sales.

Most LC and FC contracts closed in the red; the max loss of 77 cents was in the nearby December LC contract. Futures were weighed down by a weaker boxed beef market and a lack of cash cattle trade. Choice beef ended down .92 at 213.16 and Select dropped 1.80 to 197.18. Prices did not confirm yesterday’s bullish chart action, but didn’t completely negate it either.

Lean Hog futures were mostly lower (except Feb/Apr). Although cash hog prices rose today, the pork market sank to its lowest level since September 11. FOB Plant Pork dropped 1.67 to 69.02 with a sharp 4.5% drop in the value of loins. FOB Plant was only down 1.00 at midday. The CME Lean Hog Index dropped .67 to 61.20/cwt.

US$ Steady

Dow -206 25081

SP -21 2702

NAS -64 7136

Tran +23 10457

  VIX +1.23  21.25

 

WTI +39 5623

Brent +42 6589

Gas +1 155

NG +59 469  Sharp rally continued today.

HO +3 210

Eth +2 126

Gold +10 1211

Slvr +13 1410

 

2-yr -.029 2.866%

5-yr -.032 2.955%

10yr -.022 3.123%

30yr -.005 3.362%

Bluegrass Stockyard - Lexington, KY
     Weighted Average Report for 11/13/2018

This Week:  1154    Last Week:  759    Year Ago:  1294
   Compared to last Tuesday steer calves sold mostly steady with moderate demand; light demand red-hided, off-colored and fleshy offerings. Yearling steers sold 2.00 lower with good demand.  Heifers sold 1.00 to 3.00 lower with light demand.  Quality was average through good.  Slaughter cows sold steady to 2.00 lower and slaughter bulls sold 4.00 lower with light demand.

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