Market Closes - September 14, 2015
Posted on Sep 14, 2015As of September 13, 2015 Corn Conditions – 18 States . Good/Excellent Poor/V.Poor This Week 68% 10% Last Week 68 10 Year Ago 74 7
Corn Harvested 5% this week vs 4% year ago and 9% for 2010-14 average.
Corn Mature 35% this week vs 25% year ago and 40% for 2010-14 average.
Soybean Conditions – 18 States . Good/Excellent Poor/V.Poor This Week 61% 12% Last Week 63 11 Year Ago 72 6
Soybeans Dropping Leaves 35% this week vs 22% year ago and 31% for 2010-14 average.
Pasture Conditions 47% good/excellent vs 19% poor/v.poor
Cattle futures closed slightly higher except for nearby Feeder Cattle. Today’s futures tested, or even broke below, Friday’s lows before rallying. Cattle futures charts show well-defined chart support which some contracts bounced off. Cash steers and the Oct LC contract are closely priced. Boxed beef was weaker today; Choice carcasses down 0.95 at 235.14; Select down 1.04 at 225.69.
Lean Hog futures closed lower in the front 4 contracts with futures adding to Friday’s losses. FOB Plant Pork gained .14 to 84.80.
Financial markets are on edge due to the Federal Reserve meeting this week which may or may not lead to an increase in the Fed Funds Rate (0.25 basis point discussed).
Corn Dec +6 393; Jly +6 416; Dec16 +4 414 Bean Nov +10 884; Jly +10 893; Nov16 +10 876 Meal +3 314 Oil +28 2693 Wheat Dec +16 501; Jly +15 519 (504-19) KC +14 496; MGE +13 525 Oats +3 233 Rice +16 1299
LC Oct +87 14147; Feb +60 14337; Apr +37 14215 FC Sep -55 20015; Oct -30 19480; Jan +12 18747 LH Oct -50 6682; Dec -40 6225; Feb -27 6637 Milk Sep -6 1591; Oct -15 1586
US$ steady Dow -62 16371 SP -8 1953 NAS -17 4806 Tran -36 8016 VIX +1.05 24.25 +4.5%
WTI -47 4416 Brent -167 4647 Gas -6 131 NG +7 276 HO -4 151 Eth +2 151 Gold +4 1107 Slvr -11 1439
2-yr +.025 0.734% 5-yr +.005 1.511% 10yr +.002 2.185% 30yr +.012 2.956%
Kentucky Weekly Livestock Summary for the week of Sep 7-Sep 12, 2015. Receipts This Week Last Week Last Year 9,486 12,779 20,557 With a limited comparisons available due to the Labor Day holiday on Monday, steer and heifer calves sold mostly steady to 3.00 lower with moderate to good demand for a plain through average offering. Yearlings sold steady to 3.00 lower with light to moderate demand. Slaughter Cows were unevenly steady with moderate demand and Slaughter Bulls Steady to weak with light to moderate demand.
Supply consisted of 7 percent slaughter, 3 percent replacement, and 90 percent feeder cattle. In the feeder supply, steers made up approximately 38 percent and heifers approximately 38 percent. Steers and heifers over 600 lbs totaled approximately 48 percent.
Tagged Post Topics Include: Economics, Market updates
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