Market Closes - September 15, 2015
Posted on Sep 15, 2015Cattle futures closed lower on weakness in the boxed beef market following a $2.50/cwt drop in fed cattle prices last week. Choice down 1.65 at 233.49; Select down 0.68 at 225.01. LC futures dropped back to near the key chart support area; FC futures traded below similar chart support levels with new contract low closes.
Lean Hog futures closed sharply higher today on news of much higher cash hog bids. This cash strength wasn’t supported by the pork market. FOB Plant Pork dropped .83 to 83.97. LH futures stopped short of the recent highs set September 2 – this is $70.00 for October LH.
Treasury yields rose sharply today as money moved into U.S. equities. The Federal Reserve will announce its interest rate policy on Thursday.
Corn Dec -3 390; Jly -2 413; Dec16 -3 411 Bean Nov +5 889; Jly +6 899; Nov16 +6 882 Meal +4 319 Oil -46 2647 Wheat Dec -6 495; Jly -7 512 KC -4 492; MGE -4 520 Oats +3 236 Rice -2 1297
LC Oct -87 14060; Feb -87 14250; Apr -72 14142 FC Sep -182 19832; Oct -205 19275; Jan -182 18565 LH Oct +255 6937; Dec +160 6385; Feb +200 6837 Milk Sep -3 1588; Oct unch 1586
US$ +.4% Dow +229 16600 SP +25 1978 NAS +55 4861 Tran +148 8164 VIX -1.71 22.54 -7%
WTI +115 4515 Brent +26 4663 Gas +3 134 NG -3 273 HO unch 151 Eth unch 152 Gold -3 1104 Slvr +1 1437
2-yr +.081 0.810% 5-yr +.107 1.615% 10yr +.112 2.292% 30yr +.125 3.071%
Lexington Auction (Tues) Weighted Average Report for 09/15/2015 Receipts: 997 Last Week: 436 Year Ago: 1536 Compared to yesterday steer and heifer calves sold about steady on a mostly average quality offering. Very light demand for red-hided, and off-colored calves. Very light demand for fleshy bull calves. Yearling steers no comparison with last week's light test. Slaughter cows sold 2.00 lower with light demand. Slaughter bulls sold 1.00 lower with moderate demand.
Tagged Post Topics Include: Economics, Market updates
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