Market Update - February 28, 2014

Posted on Feb 28, 2014

CBOT futures are trading mostly higher ahead of the weekend on support from a 0.6% drop in the US dollar’s value.  Corn and wheat have both rallied throughout the morning and are trading near the day’s highs.  There’s little news to support the rally but the price gains are recovering some/all of yesterday’s losses.

Live Cattle futures are up only slightly even as Choice Beef is quoted $3.00 higher at midday. Feeder futures are weaker on higher feed costs.

Lean Hog futures are soaring with supply-demand looking tighter as PEDv limits the pig crop and demand expands domestically and in export markets (as US dollar weakens).

Corn Mar +6 454; Jly +5 464; Dec +5 466 Bean Mar +11 1404; Jly +7 1374; Nov +6 1161 Meal Mar unch 464; Oct +1 365 Oil +38 4128 Wheat Mar +16 598; May +11 601; Jly +10 606 KC +13 675; MGE +15 671 Oats -2 508 Rice +6 1547

LC Feb +195 15200; Apr +42 14487; Oct -5 13572 FC Mar unch 17182; Apr -12 17327; Aug -27 17562 LH Apr +255 10640; Jun +200 11192; Oct +112 9357 Milk Mar -10 2213; Apr -21 2076

US$ -.6%

Dow +.7% SP +.7% NAS +.4% Tran +.5% VIX -3.3%  13.58

WTI +.1% Brent unch Gas +.4% NG +1.9% HO -.2% Eth +.2%

Gold -.5% Slvr -.4%

5-yr +.05 1.53% 10yr +.04 2.68% 30yr +.02 3.61%

Paris, KY - (cattle weighed at time of sale) Cattle Receipts:  2278 Last Week:  1685     Last Year:  725 Compared to last week, Steers and Heifers mostly steady to 1.00 higher.  Slaughter Cows sold steady to 1.00 lower and Slaughter Bulls steady.

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