Market Update - December 19, 2012
Posted on Dec 19, 2012Cattle futures are higher today, correcting some of Tuesday’s sharp losses. But given December’s large premium to the last cash price traded, don’t expect a major rally. Cattle are being delivered against short December futures contracts. Feeder futures are up nicely as CBOT futures drift lower.
Lean hog futures continue to rally today after prices turned higher Tuesday. February futures are trading in the middle of the 30-day range.
The financial markets are less confident about a “fiscal cliff” deal today. The VIX Index which measures “fear” in the market is up 6% today after Tuesday’s sharp drop. Treasury yields also fell back this morning after yesterday’s surge.
Corn Mar -11 709 (low 706); Jly -10 711; Dec -6 617
Bean Jan -15 1451 (low 1449); Jly -13 1419; Nov -4 1306 Meal Jan -7 438; Oct unch 371 Oil +4 4921
Wheat Mar -2 900; Jly -3 826 KC -3 858; MGE -1 900
LC Dec +27 12850; Feb +52 13347; Oct +5 13580 FC Jan +72 15292; Apr +60 15667; Aug +12 16182
LH Feb +75 8602; Jly +2 9995
Milk Dec -3 1865; Jan +5 1811
Oats -4 376
Rice -3 1512
US$ -.2%
Dow -.1%
SP -.1%
NAS unch
Tran +.6%
VIX +6% 16.53
WTI +1.6%
Brent +1.1%
Gas +1.5%
NG -2.8%
HO +1%
Eth -1.3%
Gold +.1%
Slvr -1.2%
5-yr -.009 0.770% 10yr -.032 1.791% 30yr -.029 2.972%
Tagged Post Topics Include: Economics, Market updates
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