Market Closes - October 23, 2012

Posted on Oct 23, 2012
CBOT futures closed mixed with prices coming off the day’s lows.  Soybeans made the best recovery on strength in the cash markets. Early weakness was tied to the bearish outside markets resulting from “risk off” trade as U.S. corporate earnings disappointed and Spain’s economic future is uncertain as elections are held there.

  Cattle futures dropped today under the weight of the outside markets. Last week’s cash market strength should keep some floor under this market.

  Lean Hog futures closed down on the general commodity selling and Monday’s bearish Cold Storage report.

Corn Dec -5 756; Mar -3 756; Dec’13 +1 634

Bean Nov +7 1553; Mar +3 1521; Nov’13 -2 1335 Meal Dec +5 476; May +2 431   Oil -34 5132

Wheat Dec -9.5 869; Jly -5 851.5   KC -8 908; MGE -2 945

LC Oct -40 12600; Dec -42 12685; Jun -22 13132

FC Oct -25 14542; Nov -70 14705; Apr -65 15275

LH Dec -55 7812; Feb -52 8465; Jun -42 10047

Milk Oct -12104; Nov +3 2061

Oats -9 386

Rice +8 1498

US$ +.4%

Dow -243 13102

SP -21 1413

NAS -26 2990

Tran +43 5107

VIX +2.21 18.83

WTI -210 8655

Brent -119 10825

Gas -3  261

NG +7 352

HO -3 305

Eth -1.6 239

Gold -18 1709

Silver -56 3169

2-yr -.020 0.290% 5-yr -.036 0.172% 10yr -.054 1.761% 30yr -.068 2.904% 

Blue Grass Stockyards                          Cattle Report for 10/23/2012  Close Receipts:  1,447   Last Tuesday:  1,562   Year Ago:  1,741

   Compared to Monday, steer and heifer calves sold steady with moderate to good demand.  Yearling steers and heifers sold steady with good demand in a limited comparison.  Slaughter cows and slaughter bulls sold steady with moderate demand. 

   Total supply included 06% slaughter cows, 1% slaughter bulls, less than 1% replacements and 92% feeders.  Feeder supply 45% steers, 17% bulls, 38% heifers with 68% of feeders weighing over 600 lbs.

 

Tagged Post Topics Include: Economics, Market updates