Market Update - August 28, 2015
Posted on Aug 28, 2015Cattle futures are trading strongly higher (excluding August LC which expires Monday) for a second day in a row as the outside markets recover and calm down some. Live Cattle futures have rallied to the level which has been key chart support before, and therefore may offer resistance. Feeder Cattle futures have rallied not quite enough to fill (close) the big down-gaps set on Monday morning. Cash prices of feeder cattle are down sharply from a week ago (see Paris and Stanford below). In boxed beef, Choice is down .58 at 243.63 and Select is down .29 at 232.83.
Lean Hog futures are moderately lower. However, LH futures are still in the upper portion of this week’s range that started with huge price gains on Monday and Tuesday. Pork values are supportive today -- FOB Plant Pork is up .58 at 85.27.
Corn Sep unch 364; Dec unch 375 (374-80) Bean Sep +2 888; Nov +4 883 (876-89) Meal -2 321 Oil +70 2759 Wheat Sep -5 479; Jly -3 503 KC -4 460; MGE -3 491 Oats +2 224
LC Aug +35 14500; Oct +135 14390; Feb +110 14577 FC Sep +192 20227; Oct +207 19915; Jan +147 19047 LH Oct -75 6630; Dec -42 6162; Feb -42 6600 Milk Sep +5 1630; Oct +5 1640
US$ +.1% Dow -.4% SP -.2% NAS -.2% Tran +.4% VIX +2.5% 26.76
WTI +5.5% Brent +5% Gas +4.7% NG -2% HO +5.2% Eth +.5% Gold -.2% Slvr +.2%
5-yr +.034 1.518% 10yr +.013 2.177% 30yr unch 2.902%
Paris Stockyards, Paris, KY Weighted Average Report for Thursday Aug 27, 2015 Cattle Receipts: 779 Last week: 1472 Last year: 827 Compared to last week: Feeder steers sold 6.00-12.00 lower, some up to 14.00 lower, heifers 7.00-12.00 lower, some up to 15.00 lower, Slaughter cows and bulls 4.00-5.00 lower. Feeders: 696 Cows: 49 Bulls: 14 Replacements: 19 Calves: 1 BLUEGRASS SOUTH Stanford , Ky Thursday Weighted Average Report for 08/27/2015 Receipts: 842 Last Week: 1337 Year Ago: 1099 Compared to last Thursday: Feeder steers and feeder bulls under 600 lbs. sold 10.00- 15.00 lower. Feeder heifers sold 8.00 to 10.00 lower. Yearling steers and heifers sold 6.00 to 8.00 lower. Plain quality cattle sold sharply lower. Downward pressure from CME cattle futures and the Stock Market have lowered demand for feeders. Slaughter cows and bulls sold 4.00 top 5.00 lower.
Tagged Post Topics Include: Economics, Market updates
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