Market Update - February 25, 2014

Posted on Feb 25, 2014

Outside of the volatile OATS markets, CBOT futures are trading in a narrow range.   Chicago Wheat is weakest, giving up Monday’s gains.  Soybean and soybean meal futures have traded both sides but are slightly higher at this time as traders watch closely any developments in South America. Brazil had a ship loader break down so nearby demand for US beans could hold firm for a little longer.

Cattle and hog futures are trading higher with the strongest action in the nearby contracts.  April Lean Hogs broke through $1.00/lb today.  Beef and pork values improved Monday, but pork is quoted lower at midday.

Corn Mar unch 451; Jly -1 461; Dec -1 461 Bean Mar +2 1389; Jly +3 1361; Nov +3 1164 Meal Mar -1 465; Oct +2 366 Oil -23 4052 Wheat Mar -8 609; Jly -4 617 KC -2 687; MGE +4 667 Oats +11 494 Rice -8 1596

LC Feb +85 14600; Apr +75 14197; Oct +35 13467 FC Mar +52 17072; Apr +42 17205; Aug +45 17460 LH Apr +82 10010; Jun +32 10845; Oct +35 9250 Milk Mar -4 2214; Apr -12 2117

US$ -.15%

Dow +.2% SP +.2% NAS +.2% Tran -.2% VIX -2% 13.95

WTI -1.2% Brent -.7% Gas -.8% NG -8.3% (dropped over 22% in 25 hours) HO -.2% Eth +1.6%

Gold +.3% Slvr -.5%

5-yr -.03 1.51% 10yr -.04 2.70% 30yr -.04 3.66%

Blue Grass Stockyards Cattle Auction Report for 02/24/2014 Receipts:  1,741   Last Monday:  924   Year Ago:  939 Compared to last week, steer and heifer calves sold mostly steady with good demand; however more fleshy unweaned calves on the market this week and market slightly softer for those fleshy calves.  Quality was good through attractive.  Slaughter cows sold steady to 1.00 higher with good demand. Slaughter bulls sold steady with good demand.  Yearling cattle lightly tested. Total supply included 08% slaughter cows, 01% slaughter bulls, 02% replacements and 89% feeders.  Feeder supply 31% steers, 27% bulls, 42% heifers with 33% of feeders weighing over 600 lbs.

KFB 2014 Farm Chemical Price List  - Click HERE   Ordering deadline is Friday, February 28 

KENTUCKY CASH GRAIN PRICES Click Here 

KENTUCKY LIVESTOCK AUCTIONS --  Click Here

 

Tagged Post Topics Include: Economics, Market updates