CBOT futures closed lower with pressure from a rising US dollar and the release of crop forecasts by the Informa group. Their corn and soybean production estimates are higher than many other private forecasts. USDA will settle the “debate” next Friday.

Wheat futures fell to new contract lows as the global supply-demand picture is bearish. Corn futures set new contract low CLOSES, but still have not traded below the spike lows set August 12 with the last crop report. Soybean futures also remain above the contract lows set August 24. Good soybean export sales lifted the market.

Cattle futures closed higher but well off the day’s highs. Boxed beef values slipped with Choice down 0.16 at 240.81; Select down 0.59 at 228.44.

Lean Hog futures closed lower but today’s trading range was within yesterday’s range. LH futures have been performing better than cattle and CBOT futures, so it’s not surprising to see the rally slow or peak. FOB Plant Pork dropped .69 to 85.25 with big losses in the value of ham and ribs.

Corn Dec -6 361; May -5 380; Dec16 -4 388 Bean Nov -4 869; May -4 876; Nov16 -4 863 Meal Oct -2 310; May -2 301 Oil -1 2685 Wheat Dec -14 465; Jly -12 484 (484-98) KC -7 468; MGE -8 500 Oats -2 223 Rice +10 1206

LC Oct +37 14160; Feb +52 14372; Apr +57 14267 FC Sep +180 20255; Oct +102 19732; Jan +57 18820 LH Oct -32 6945; Dec -65 6402; Feb -52 6805 Milk Sep -1 1617; Oct +5 1659

 

US$ +.5% Dow +23 16375 SP +2 1951 NAS -16 4733 Tran +6 7871 VIX -.48 25.61 -1.8%

WTI +37 4662 Brent +6 5056 Gas +1 143 NG +6 271 HO +1 162 Eth unch 145 Gold -9 1124 Slvr +3 1470

Lexington, KY - Blue Grass Stockyards Cattle Weekly Summary Report for the week ending 09/03/15 ***Stockyards will be closed Mon. Sept 7 for Labor Day*** Receipts: 1382 Last Week: 1627 Year Ago: 1066 Compared to last week steer calves sold steady to 4.00 lower with light demand except yearlings sold 1.00 to 2.00 higher with moderate demand. Heifer calves sold steady to 3.00 lower with light demand with very light demand for heavy heifers over 650 lbs. Quality was average through good. Slaughter cows sold 2.00 to 3.00 lower and slaughter bulls sold 3.00 to 4.00 lower with light demand.