CBOT futures are mostly higher with sharp gains in soybean meal and soybean futures.  The next week looks to be very warm and dry, which could shave bushels off final production. The ProFarmer Crop Tour was held this week with final results announced this afternoon.  News report indicate the tour found IOWA pod counts below last year’s levels.

One indication of the late maturity of this year’s crop is news that harvesting equipment demonstrations are NOT possible at next week’s Farm Progress Show in Decatur, Illinois, due to crop maturity.

Cattle futures are narrowly mixed with Live Cattle up slightly and Feeder Cattle dropping on pressure from higher CBOT futures.  USDA will release its August Cattle on Feed Report this afternoon. Expectations are for August 1 on-feed @ 95.8 pct of a year ago, July placements @ 97.5 pct, and July Marketings @ 104.4 pct.

Lean Hog futures are up today on profit-taking following sharp price drops the past two days. Cash hog prices appear to begin a seasonal decline.

Corn Sep +8 494; Dec +3.5 468 (hi 474.5)

Bean Sep +37 1359 (hi 1368); Nov +36 1322 (hi 1329) Meal Sep +18 431; Dec +16 417 (hi 419) Oil +23 4266

Wheat Sep +3 634 ; Dec +3 644; JLY +2 657 (hi 662) KC +2 697;  MGE -1 718

Oats -6 376

Rice +1 1562

LC Aug +15 12350; Oct +12 12732; Feb +5 13112 FC Aug -15 15530; Oct -32 15967; Jan -22 15875

LH Oct +65 8505; Dec +62 8222; Feb +32 8425

Milk Aug -1 1790; Sep +15 1718

US$ -.2$

DOW steady SP +.1% NAS +.2% Tran -.2% VIX -1.8% 14.49

WTI +.8% Brent +.8% Gas +1.4% NG -.9% HO +.8% Eth +1.2%

Gold +1.8% Slvr +3%

5-yr -.05 1.63% 10yr -.06 2.83% 30yr -.06 3.81%

Treasuries have been volatile today as various Fed officials express conflicting opinions of when “tapering” should start.   New Home Sales plunged 13 pct in July to annual rate of 394,000, which is way below what analysts expected – 490,000.

Blue Grass Stockyards Cattle Weekly Summary Report for the week ending 08/20/13

Receipts:  2,438   Last Week:  1,598   Year Ago:  2,027

Compared to last week steer calves sold 2.00 to 8.00 higher with very good demand for 400-700 lbs calves. Heifer calves sold steady to 3.00 higher with very good demand.  Yearling steers sold steady to 2.00 higher with very good demand.  Yearling heifers sold about steady with good demand.  Average to good quality offering.  Excellent pasture conditions across the state combined with anticipation of a good corn crop continues to push cattle prices upward.  Farmers have started bringing new crop spring calves to town earlier this year as prices have surged higher the last few weeks.  Slaughter cows and slaughter bulls sold steady with good demand.

Total supply included 07% slaughter cows, 01% slaughter bulls, Less than 01% replacements and 92% feeders.  Feeder supply 53% steers, 15% bulls, 32% heifers with 65% of feeders weighing over 600 lbs.

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