Market Update - December 29, 2014

Posted on Dec 29, 2014
CBOT futures are trading slightly lower but near the day’s lows. CBOT futures rallied early this morning but headed lower especially after 10 am CT. I haven’t seen reasoning for it yet unless weekly export sales were disappointing.

Cattle futures are soaring higher in follow-through to last week’s late strength in fed cattle prices and boxed beef. Today, Choice beef is up .85 to 245.37. This compares to 239.23 a week ago.

Lean Hog futures are slightly higher but off the early morning highs as traders see a weaker pork market this morning. FOB Plant Pork is down .92 to 86.73 on sharply lower picnic values. Soaring cattle futures should offer some support.

Corn Mar -3 411 (411-17); Dec -4 435 Bean Jan -2 1045 (1043-62); Nov -1 1028 Meal -4 376 Oil +54 3300 Wheat Mar -1 609; Jly -2 614 (613-26) KC unch 644; MGe unch 632 Oats -3 303 Rice -37 1179

LC Dec +197 16672; Feb +280 16527 FC Jan +410 21782; Mar +420 21610; Aug +395 21895 LH Feb +32 8187; Jun +45 9122 Milk Jan +4 1579; Feb +18 1540

US$ unch

Dow steady SP +.2% NAS +.1% Tran +.1% VIX +6.3% 15.42

WTI +.3% Brent steady Gas -.9% NG +2.5% HO -.6% Eth -.2% Gold -1.2% Slvr -2%

5-yr -.044 1.712% 10yr -.048 2.202% 30yr -.044 2.770%

Tagged Post Topics Include: Economics, Market updates