CBOT futures closed moderately higher with Chicago Wheat being the strongest. Fund buying was strong in all 3 major commodities. Today’s rally reversed last week’s mostly 4-day drop in prices (short holiday week). Corn futures closed near the day’s highs and erased half of last week’s loss. Soybeans closed higher mostly due to soybean oil which jumped with the soaring crude oil market. Offsetting a bearish stronger US Dollar was favorable corn/bean export news. USDA crop ratings showed corn unchanged and soybeans up slightly. As of September 20, 2015 Corn Conditions – 18 States . Good/Excellent Poor/V.Poor This Week 68% 10% Last Week 68 10 Year Ago 74 7

Corn Harvested 10% this week vs 7% year ago and 15% for 2010-14 average.

Corn Mature 53% this week vs 40% year ago and 56% for 2010-14 average.

Soybean Conditions – 18 States . Good/Excellent Poor/V.Poor This Week 63% 11% Last Week 61 12 Year Ago 71 7

Soybeans Dropping Leaves 56% this week vs 42% year ago and 50% for 2010-14 average.

Soybeans Harvested 7% this week vs 3% year ago and 7% for 2010-14 average.

Pasture Conditions 46% good/excellent vs 20% poor/v.poor Cattle futures closed moderately higher – this followed Friday’s drop to new contract lows. Friday’s Cattle on Feed Report was considered friendly. Choice beef down 0.76 at 225.54; Select up 0.89 at 220.15.

Lean Hog futures continued to gain value. Higher pork values were supportive but a stronger US Dollar is a negative. FOB Plant Pork gained .78 to 83.68. LH futures have staged a strong 5-day rally, pulling futures up to the cash hog value.

Corn Dec +7 384; Jly +7 409; Dec16 +7 409 Bean Nov +7 874; Jly +7 890; Nov 16 +8 878 Meal +1 310 Oil +45 2650 Wheat Dec +10 497; Jly +10 513 KC +8 490; MGE +7 518 Oats +1 232 Rice -14 1280

LC Oct +100 13700; Feb +120 14035; Apr +95 13900 FC Sep +190 19470; Oct +185 18767; Jan +100 17925 LH Oct +57 7162; Dec +82 6497; Feb +85 6922 Milk Oct -31 1550; Nov -28 1546

  US$ +.8% Dow +126 16510 SP +9 1967 NAS +2 4829 Tran +64 8100 VIX -2.14 20.14 -9.6%

WTI +170 4672 Brent +127 4874 Gas +5 140 NG -3 258 HO +2 151 Eth +3 157 Gold -5 1133 Slvr +2 1518

10yr 2.199% 30yr 3.016% Lexington Auction Weighted Average Report for 09/21/2015 Receipts: 812 Last Week: 1027 Year Ago: 1217 Compared to last week steer calves under 550 lbs sold steady; over 550 lbs sold 2.00 to 4.00 lower with light demand. Middleweight heifer calves sold 3.00 lower with light demand. Yearlings lightly tested. Quality was plain through good. Slaughter cows and slaughter bulls sold 2.00 to 4.00 lower with light demand.

7 replacement cattle, 103 slaughter cattle, and 702 feeder cattle. Kentucky Weekly Livestock Summary for the week of Sep 14-19, 2015. Receipts This Week Last Week Last Year 22,384 9,486 23,000 Compared to last week, steer calves sold mostly 5-8 lower with instances sharply lower. Demand was light to moderate. Heifer calves were 6-10 lower with moderate demand. Yearling steers and heifers sold steady to 4.00 lower with light demand and limited supply. Quality was plain to average for all feeder classes. Slaughter cows sold steady to 3.00 lower with moderate demand and slaughter bulls 2.00 to 3.00 lower with moderate demand. Falling cattle futures prices for two consecutive weeks continue to put pressure on Kentucky markets.