Market Update - April 9, 2015 - Kentucky Farm Bureau

Market Update - April 9, 2015

Posted on Apr 9, 2015
The USDA reports were released at Noon ET. Here are the USDA forecasts. The World Ending Stocks numbers were inline with the average guess. For the U.S., corn and wheat came in a little tighter than the average guess.

U.S. Ending Stocks Corn 1.827 billion vs 1.851 expected and 1.777 in March Corn for feed was reduced 50 million. Bean 370 million vs 371 expected and 385 in March Wheat 684 million vs 690 expected and 691 in March

CBOT futures are lower across the board after the USDA report shakeout. Prices have risen some since the report. The US Dollar is strongly higher and weighing on ag commodity prices.

Cattle futures are trading mixed with little changes. Today’s trading ranges are narrow. Traders continue to seek leadership from the cash cattle and beef markets. Is April LC at $162 too cheap? Choice beef is down .76 in the morning report, but Select gained 1.55.

Lean Hog futures are trading slightly lower after testing higher ground at the market opening at 8:00 am CT. The midday pork cutout is little changed. Deferred LH futures continue to slowly trend higher.

Corn May unch 379; Dec -1 404 Bean may -13 958; Nov -11 949 Meal -6 314 Oil -6 3089 Wheat Jly unch 526 KC -5 560; MGE -3 582 Oats -1 268 Rice -7 1050

LC Apr +20 16175; Oct +25 15062 FC Apr +47 21670; Aug +17 21510 LH Apr -20 6210; Jun -47 7662 Milk Apr +3 1566; May +13 1595

US$ +.9%

Dow steady SP +.1% NAS +.1% Tran steady VIX -1% 13.83

WTI +1.8% Brent +2.9% Gas +1.8% NG -2.6% HO +2.5% Eth -.2% Gold -.7% Slvr -1.5%

5-yr +.031 1.367% 10yr +.026 1.923% 30yr +.031 2.551%

Lexington, KY - Blue Grass Stockyards Cattle Weekly Summary Report for the week ending 04/08/15 Receipts: 3135 Last Week: 2448 Year Ago: 2891 *Total receipts include 1013 head in graded Holstein sale Wed. night. Compared to last week steer and heifer calves sold steady to 5.00 higher on middleweights with good demand. Good through attractive quality offering. Market very active for 500-600 lb stocker calves with some farmer participation in the market this week. Grass really starting to take off this week with plenty of moisture in the ground and warmer temperatures. Yearling steers sold steady to 2.00 lower with moderate demand. Yearling heifers sold weak with moderate demand. Slaughter cows sold steady to weak with moderate demand. Slaughter bulls sold 2.00 lower with moderate demand.

Tagged Post Topics Include: Economics, Market updates


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