Market Closes - November 2, 2015
Posted on Nov 3, 2015As of November 1, 2015 Corn Harvested 85% this week vs 62% year ago and 79% for 2010-14 average.
Soybeans Harvested 92% this week vs 81% year ago and 88% for 2010-14 average.
Winter Wheat Planted 88% this week vs 89% year ago and 90% for 2010-14 average.
Cattle futures closed with small changes beyond the November Feeder Cattle contract. Cattle sold off into late morning but rallied over a dollar/cwt in the last hour to minimize losses. Higher boxed beef values at midday was supportive. But those gains in Choice beef disappeared by late day. Choice down 0.43 at 219.61; Select up 0.45 at 212.52. In December LC, watch last week’s low at $140 for support.
Lean Hog futures closed moderately lower but well off the day’s lows. Lean Hogs also rallied sharply in the final 30 minutes of trading before the 1 pm CT settlement. December LH tested the contract low of $57.05 from July and then rallied on technical buying. Higher pork values were supportive. FOB Plant Pork closed up 1.36 at 79.50 on stronger ham and belly prices.
Corn Dec -6 376; Jly -6 395; Dec16 -6 402 Bean Jan -7 879; Jly -8 892; Nov16 -7 883 Meal -2 302 Oil -35 2785 Wheat Dec -14 508; Jly -13 517 KC -11 483; MGE -14 512 Oats -5 222 Rice +27 1188
LC Dec -5 14167; Feb +27 14370; Apr +15 14227 FC Nov +137 19227; Jan +2 18322; Apr +30 18000 LH Dec -97 5822; Feb -77 6197; Apr -55 6687 Milk Nov -5 1527; Dec -11 1524
US$ steady Dow +165 17829 SP +25 2104 NAS +73 5127 Tran +115 8243 VIX -.92 14.15 -6%
WTI -51 4608 Brent -77 4879 Gas unch 137 NG -6 226 HO -1 151 Eth -3 157 Gold -8 1133 Slvr -16 1540
2-yr +.021 0.757% 5-yr +.030 1.558% 10yr +.025 2.176% 30yr +.010 2.946%
Kentucky Weekly Livestock Summary for the week of Oct 26-31 2015. Receipts This Week Last Week Last Year 20,728 22,040 28,700 Compared to last week, Steer calves sold mostly steady to 3.00 higher with instances early in the week to 5.00 higher. Heifer calves sold mostly steady to 3.00 higher. Yearling steers and heifers were 2.00 to 3.00 higher on a light test. There was moderate to good demand for a mostly average to good quality offering for all feeder classes. Slaughter Cows and bulls sold mostly steady to 2.00 higher with moderate to good demand.
Supply consisted of 8 percent slaughter, 3 percent replacement, and 89 percent feeder cattle. In the feeder supply, steers made up approximately 41 percent and heifers approximately 36 percent. Steers and heifers over 600 lbs totaled approximately 43 percent.
Tagged Post Topics Include: Economics, Market updates
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