Market analysts often talk about “Turnaround Tuesday”. Today is very much one of these as CBOT, energy and equity indexes are trading lower after a strong showing Monday. Also, today’s trading ranges (so far) are narrower than Monday’s. There’s no major news driving the markets. Price movement will be volatile and be affected as the weather forecasts and actual rain amounts waver by the hour and day.

Cattle futures are higher as traders wait for the cash markets to show how well consumers are handling high beef prices. Choice Beef is up .47 to 263.69/cwt.

Lean Hog futures are lower on concerns that cash hog and pork values are headed lower seasonally – as slaughter receipts begin to increase. Deferred LH futures are resuming the downtrend after Monday’s one-day rally.

Corn Sep -4 355; Dec -4 365 Bean Sep -17 1078; Nov -17 1063 Meal Sep -5 356 Oil -54 3558 Wheat Sep -1 543; Jly -1 603 KC -3 635; MGE -2 621 Oats +2 353 Rice -18 1264

LC Aug +27 15850; Oct unch 15622; Apr +25 15652 FC Aug +87 22185; Oct +32 22067; Mar +39 21180 LH Aug -97 11610; Oct -127 10235; Feb -82 9082 Milk Aug -7 2169; Sep -16 2178

US$ +.3%

Dow -60 16509 SP -7 1932 NAS -9 4375 Tran -14 8135 VIX +.20 15.32

WTI -.9% Brent -1% Gas -.5% NG +1.4% HO -1% Eth -1.5% Gold -.3% Svlr -2%

5-yr +.023 1.681% 10yr +.020 2.511% 30yr +.020 3.315%

Blue Grass Stockyards Cattle Auction Report for 07/28/2014 Receipts: 770 Last Monday: 534 Year Ago: 997 Compared to last week steer calves sold firm with very good demand, yearling steers sold steady in a limited comparison with very good demand. Heifer calves sold steady except 400-600 lbs sold 2.00 higher with very good demand, yearling heifers lightly tested. Slaughter cows and slaughter bulls sold steady with very good demand. Total supply included 10% slaughter cows, 03% slaughter bulls, 03% replacements and 84% feeders. Feeder supply 38% steers, 28% bulls, 34% heifers with 36% of feeders weighing over 600 lbs.

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KENTUCKY LIVESTOCK AUCTIONS --  Click Here 

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