Market Update - August 29, 2013
Posted on Aug 29, 2013Cattle futures are slightly higher on optimism that cash cattle will trade equal or better than last week.
Lean Hog futures are surprisingly much higher given the sharp loss in pork values yesterday.
Outside markets are bearish commodities today – stronger dollar, weaker energy and metal futures.
Corn Sep -5 499; Dec -2.5 478 (477-483)
Bean Sep +15 1448; Nov +4 1376 (1360-1382) Meal Sep +7 470; Dec +5 434 Oil -59 4372
Wheat Sep -6 641; Dec -7 652; JLY -7 665 KC -7 699; MGE -6 728
Oats Dec -3 345
Rice Nov -3 1568
LC Aug +25 12355; Oct +37 12730; Feb +35 13192 FC Aug +27 15500; Sep +20 15612; Jan +27 15787 LH Oct +70 8675; Dec +80 8395 Milk Sep -10 1769; Oct -15 1790
US$ +.8%
Dow +.6% SP +.7% NAS +1.1% Tran +.9% VIX -2.2% 16.13
WTI -.8% Brent -.6% Gas -.2% NG +.9% HO -.2% Eth -.6%
Gold -.9% Slvr -2.3%
5-yr +.03 1.64% 10yr +.02 2.79% 30yr +.01 3.74% Treasury yields rose after today’s report of U.S. 2nd quarter GDP growth of 2.5 pct, up from the preliminary 1.7 pct estimate. Higher treasury yields also supported the US dollar’s value. There also seems to be more uncertainty about an attack (delayed ?) on the Syrian government/military.
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Tagged Post Topics Include: Economics, Market updates
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