Market Closes - September 21, 2017

Posted on Sep 21, 2017

Except 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.

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