Market Update - December 17, 2014

Posted on Dec 17, 2014
CBOT futures are higher across the board with wheat again leading the market. Futures have rallied in tandem with a strong rise in energy and equity markets. Underlying fundamentals haven’t changed.

Livestock futures are down sharply as the Feeder Cattle contracts are all down the $3.00 daily limit (for the 5th straight day). Live Cattle all started down the limit but have bounced back strongly especially for last-half 2015 contracts. Lean Hog futures have also recovered from $3.00 limit-down trade. While Feeder Cattle futures are still suffering from long-liquidation in a thinly-traded market, the LC and LH markets seemed to have shaken off the “panic selling” as the cash markets aren’t falling apart. Choice Beef is up .41 to 243.29 and FOB Plant Pork is down 1.28 to 87.70/cwt.

Corn Mar +1 407; jly +1 422; Dec unch 431 Bean Jan +6 1030; Jly +7 1049; Nov +11 1013 Meal Jan +4 361; Jly +2 344 Oil +26 3203 Wheat Mar +13 637; Jly +10 636 KC +17 672; MGE +16 650 Oats +1 315 Rice +6 1214

LC Dec -62 15835 (low 15597); Feb -107 15767; Jun+90 15055 FC all down the $3.00 limit Jan 21660; Mar 21225; Aug 21222 LH Feb -117 8050 (low 7867); Apr -132 8210; Jun -85 8930 Milk Jan +17 1575; Feb +15 1530

US$ +.7%

Dow +1% SP +1.2% NAS +1% Tran -1% VIX -7% 21.90

WTI +4.6% Brent +4.7% Gas +4% NG +1.9% HO +4% Eth steady Gold +.1% Slvr +1%

5-yr +.046 1.572% 10yr +.035 2.106% 30yr +.025 2.727%

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Tagged Post Topics Include: Economics, Market updates