Market Closes - November 26, 2012
Posted on Nov 26, 2012Winter Wheat is rated 33 pct good/excellent, down 1 point from last week and compares to 52 pct a year ago. WW rated poor/very poor is 26 pct, up 2 points from last week and compares to 13 pct a year ago. Rain is desperately needed in the Plains states. The Kansas City HRW contract should be the market leader.
Cattle futures closed moderately lower on profit-taking. This is not surprising given last week’s sharp rally in live cattle and feeder cattle futures. Also, last week, fed steers brought $2/cwt more money ($127-128) than the previous week.
Lean hog futures closed steady to lower on a lack of bullish cash market news. Lean Hog futures are sitting at lofty levels; the rally from the September 2012 lows has been impressive.
Corn Dec +2 747; Mar +1.5 751; Dec’13 +3.5 629
Bean Jan +6 1425; Mar +9 1412; Nov +11 1296 Meal Dec +3 432; Oct +6 369 Oil +23 4927
Wheat Dec +1 849; Jly +5 859 KC +6 884; MGE +1 915
LC Dec -55 12840; Apr -60 13585; Jun -35 13192 FC Jan -52 14735; Apr -40 15155; Aug -52 15662
LH Dec unch 8247; Feb -40 8697; Jun -17 10085
Milk Dec -13 1908; Jan -23 1860
Oats unch 369
Rice -11 1492
US$ steady
Dow -42 12967
SP -3 1406
NAS +10 2977
Tran +33 5084
VIX +.36 15.50
WTI -49 8779
Brent -54 11084
Gas -2 273
NG -16 374.5
HO -3 304.5
Eth +1.4 240.6
Gold -2 1750
Slvr +5 3417
2-yr -.004 0.270% 5-yr -.021 0.669% 10yr -.027 1.666% 30yr -.027 2.803%
Tagged Post Topics Include: Economics, Market updates
Comments