Market Closes - October 31, 2012

Posted on Oct 31, 2012
CBOT futures closed higher with soybean and wheat futures ending off the highs.  End of month trading may have lent support since it’s been a down month.  The new month of November will bring more clarity as to traders’ biases.  Next Friday’s USDA reports will be watched closely, especially for soybean production adjustments.

  Harvest progress as of last Sunday was reported today at 91 percent for corn and 87 percent for soybeans.

  Live Cattle futures edged lower on weakness in cash markets.  Boxed beef lost value: Choice DN 3.40 at 194.77; Select DN 1.23 at 176.65.  Feeder futures suffered added pressure from rising corn/meal prices.

Corn Dec +14 756; Mar +12.5 757; Dec’13 -1 636.5

Bean Jan +12 1549 (hi 1559); Mar +13 1524; Nov’13 +13.5 1344.5 Meal Dec +6 482; May +6 440.5   Oil +7 5016

Wheat Dec +8 864; Jly +5 873.5   KC +2 904; MGE +7 942

LC Dec -27 12592; Apr +2 13397; Jun -25 13015

FC Nov -75 14630; Jan -80 14870; Apr -62 15215

LH Dec +17 7827; Feb +60 8447; Jun -12 10045

Milk Nov +8 2105; Dec +7 2015

Oats unch 389

Rice +6.5 1483

US$ unch

Dow -11 13096

SP unch 1412

NAS -11 2977

Tran +33 5085

VIX +.79 18.60

WTI +39 8607

Brent -68 10840

Gas +2 263

NG unch 369

HO -1 306

Eth +2 242

Gold +9 1721

Slvr +44 3226

2-yr -.008 0.285 5-yr -.021 0.721% 10yr -.028 1.693% 30yr -.022 2.860% 

Blue Grass Stockyards Cattle Report for 10/30/2012  Close Receipts:  1,433   Last Tuesday:  1,447   Year Ago:  1,915     Compared to Monday, steer and heifer calves sold steady with moderate to good demand; however more plain quality calves on the market today compared to yesterday.  Yearling steers and heifers sold about steady with good demand.  Slaughter cows and slaughter bulls sold about steady in a light test. 

   Total supply included 04% slaughter cows, less than 1% slaughter bulls, 1% replacements and 94% feeders.  Feeder supply 43% steers, 13% bulls, 44% heifers with 66% of feeders weighing over 600 lbs.

 

Tagged Post Topics Include: Economics, Market updates