Market Update - August 15, 2013 - Kentucky Farm Bureau

Market Update - August 15, 2013

Posted on Aug 15, 2013
CBOT futures are higher led by corn.  Focus on the forecast turning warmer and drier in late August combined with strong export sales to bring out the buyers. December Corn is now above Monday’s high posted after the Crop Report was construed as bullish.  The 6-day rally in November Soybeans is approaching a dollar off the lows posted ONLY a WEEK AGO.

Cattle futures are lower after being stronger overnight.  The sharp losses in the Hog pit combined with lower equity indexes and higher interest rates may have spooked the bulls.  Lean Hog futures are down sharply on a big drop in the Pork cutout value.

Corn Sep +15 479; Dec +15 470

Bean Sep +20 1289; Nov +25 1264 Meal Sep +5 413; Dec +7 386 Oil +73 4307

Wheat Sep +9 639; Dec +8 651 KC +6 705; MGE +9 745

Oats +14 380

Rice +7 1533

LC Aug -45 12355; Oct -12 12805; Feb -20 13115 FC Aug -15 15345; Oct -70 15915; Jan -55 15895 LH Oct -95 8720; Dec -92 8375; Feb -60 8565 Milk Aug -9 1804; Sep -9 1805

US$ -.1%

Dow -1.2% SP -1.2% NAS -1.3% Tran -1.2% VIX +7.6% 14.03

WTI +.6% Brent +.8% Gas steady NG +2% HO +1% Eth +1.8%

Gold +.4% Slvr +1.4%

2-yr +.02 0.36% 5-yr +.06 1.55% 10yr +.07 2.78% 30yr +.05 3.80%

Blue Grass Stockyards Cattle Weekly Summary Report for the week ending 08/13/13

Receipts:  1,598   Last Week:  2,243   Year Ago:  1,700

Compared to last week steer and heifer calves sold steady to 5.00 higher on 400-600 lbs instances 10.00 higher on featherweight Calves with very good demand.  Plain to average quality offering.  Yearling steers and heifers compared to last week sold 2.00 to 5.00 higher with very good demand.  Slaughter cows sold steady to 1.00 higher with good demand.  Slaughter bulls sold about steady with good demand.

Total supply included 09% slaughter cows, 03% slaughter bulls, 02% replacements and 86% feeders.  Feeder supply 41% steers, 17% bulls, 42% heifers with 63% of feeders weighing over 600 lbs. 

KENTUCKY CASH GRAIN BIDS Click Here

Tagged Post Topics Include: Economics, Market updates


Comments

Post a Comment

Required Field