Market Closes - November 19, 2015
Posted on Nov 19, 2015Cattle futures closed lower, ending a 2-day price rally. Futures did trade higher until mid-morning but then turned south, probably as traders learned that boxed beef values were falling even more than they had on Wednesday. Today, Choice carcasses were down 1.85 at 204.83; Select down 3.36 at 193.34. Most of the contracts traded within yesterday’s wide price ranges.
Lean Hog futures closed higher in the nearby contracts but lower in the deferred ones. December was supported by a strong pork market. FOB Plant Pork jumped 2.20 to 74.39 on stronger values for loins, hams and bellies. USDA reported weekly pork export sales at a 7-week high.
Corn Dec +2 364 (360-65); Jly +2 381; Dec16 +2 392 Bean Jan +2 860 (852-63); Jly +2 875; Nov +2 879 Meal +1 287 Oil +11 2755 Wheat Dec +7 491; Jly +5 498 (491-500) KC +4 462; MGE +9 509 Oats +5 248 Rice unch 1184
LC Dec -107 12990; Feb -107 13205; Apr -82 13257 FC Jan -150 16245; Mar -197 16055; Apr -187 16215 LH Dec +102 5540; Feb +45 5672; Apr +2 6202 Milk Nov -7 1531; Dec -3 1481
US$ -.6% Dow -4 17733 SP -2 2081 NAS -2 5074 Tran +81 8273 VIX +.14 16.99
WTI -26 4049 Brent +15 4429 Gas +2 129 NG -8 226 HO unch 138 Eth +3 148 Gold +13 1081 Slvr +15 1423
2-yr +.020 0.896% 5-yr +.001 1.677% 10yr -.017 2.252% 30yr -.029 3.013%
Lexington, KY - Blue Grass Stockyards Cattle Weekly Summary Report for the week ending 11/18/15
Receipts: 2,255 Last Week: 2,629 Year Ago: 2,406 ***Total receipts include 227 head sold in special cow sale Wed. night. Compared to last week featherweight steers traded 5.00 to 10.00 lower, middleweight steers traded sharply lower and yearlings traded 10.00 lower with very light demand. Featherweight heifers traded 10.00 to 15.00 lower middleweights traded sharply lower and yearlings traded 10.00 to 15.00 lower. Quality was plain through good. Slaughter cows traded 2.00 to 4.00 lower and slaughter bulls traded 2.00 to 3.00 lower with light demand. October Milk Production up 0.1 Percent Milk production in the 23 major States during October totaled 16.0 billion pounds, up 0.1 percent from October 2014. September revised production, at 15.6 billion pounds, was up 0.5 percent from September 2014. The September revision represented an increase of 12 million pounds or 0.1 percent from last month's preliminary production estimate.
Production per cow in the 23 major States averaged 1,857 pounds for October, 7 pounds below October 2014. This is the second highest production per cow for the month of October since the 23 State series began in 2003.
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Tagged Post Topics Include: Economics, Market updates
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