Market Update - February 2, 2015 - Kentucky Farm Bureau

Market Update - February 2, 2015

Posted on Feb 2, 2015
CBOT futures are trading mixed with most contracts trading both sides of unchanged this morning. Corn and soybean futures are at mid-range while wheat is trading at/near the day’s lows. There’s a lack of significant market news to move prices.

Cattle futures are trading lower. Since Friday afternoon’s Cattle inventory report was considered slightly bearish and cattle futures closed strongly higher even without substantial fundamental support, it’s not surprising to see weakness in cattle futures today. However, the charts still look like a bottom is being established. Choice beef is up 1.00 to 243.44 and Select beef is up .45 to 236.19.

Lean hog futures are trading lower with the February LH contract dropping to a new low. Fundamentals remain negative. Pork cutouts are near steady at midday.

The stock and energy markets are quite volatile today.

Corn Mar +1 371; Jly +1 387; Dec +1 402 Bean mar -1 960; Jly -1 972; Nov unch 946 Meal Mar -2 328; Oct -1 314 Oil +30 3030 Wheat Mar -8 494; Jly -8 504 KC -7 533; MGE -4 553 Oats -4 272 Rice -10 1046

LC Feb -7 15477; Apr -47 15180; Oct -95 14625 FC Mar -150 20370; May -162 20450; Aug -175 20625 LH Feb -47 6700; Apr -45 7180; Jun -32 8377 Milk Feb +15 1615; Mar +23 1589

US$ -.2%

Dow +.2% SP +.3% NAS +.1% Tran +.6% VIX +.2% 21.04

WTI +2.2% Brent +2.7% Gas +4% NG -1.2% HO +3% Gold -.3% Slvr +.2%

5-yr +.010 1.200% 10yr -.004 1.676% 30yr -.006 2.252%

Tagged Post Topics Include: Economics, Market updates


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