Market Closes - September 21, 2017
Posted on Sep 21, 2017Except for soybean oil, the major CBOT futures closed near unchanged. Futures generally rallied most of the morning but sold off from the day’s highs in the last hour of trading. Today’s strength was mostly the result of strong export sales for soybeans. The US Dollar weakened today, but not as much as it strengthened yesterday. Wheat futures closed higher again on additional short-covering as charts show new highs for the move.
Cattle futures closed mixed after trading both sides of unchanged. The nearby LC contract ended lower after yesterday’s strong market put LC futures at a big premium to the cash market around $107. Choice boxes dropped .53 to 191.51 and Select lost .11 to 188.41. Cash trade may remain light until the Cattle on Feed report is released at 2:00 pm EDT.
Lean Hog futures closed sharply lower as the pork cutout dropped very hard and cash hog prices are under pressure from rising numbers being harvested. FOB Plant Pork crashed 3.28 to 73.04 as every primal cut dropped sharply.
Corn Dec unch 350 (348-51); Mar unch 363
Bean Nov +1 971 (963-73); Mar unch 990
Meal +3 309
Oil -57 3410
Wheat Dec +3 452; Jly +2 496 (491-98)
KC +1 449; MGE +3 624
Oats +4 250
Rice -9 1271
LC Oct -85 11010; Feb +20 11925; Apr +7 12150
FC Sep -80 15317; Nov -72 15682; Jan +10 15317
LH Oct -132 5732; Dec -212 5780; Feb -162 6287
Milk Sep +11 1637; Oct +5 1596
US$ -.4%
Dow -53 22359
SP -8 2501
NAS -33 6423
Tran +15 9669
VIX -.11 9.67
WTI -14 5055
Brent +16 5645
Gas -1 164
NG -15 295
HO +1 182
Eth -3 151
Gold -22 1295
Slvr -31 1694
2-yr +.001 1.443%
5-yr +.007 1.888%
10yr +.002 2.278%
30yr -.018 2.804%
Lexington, KY - Blue Grass Stockyards
Cattle Weekly Summary Report for the week ending 09/19/17
Receipts: 2753 Last Week: 3950 Year Ago: 1526
Compared to last week feeder steers sold steady to 2.00 higher with good demand. Feeder heifers sold steady however 600-800 lbs replacement quality open heifers 5.00 higher with good demand. Yearlings sold near steady with best demand for 700-800 lbs packages. Slaughter cows and bulls sold steady to 2.00 lower with light demand.
Kentucky Farm Bureau Minute video - Click Here
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KENTUCKY LIVESTOCK AUCTIONS -- Click Here
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