Market Update - January 15, 2015
Posted on Jan 15, 2015Live Cattle futures are slightly lower on continued liquidation (lost $10.00 in past 5 trading days). February LC futures are at a steep discount to cash cattle trading in the mid-160s. Boxed beef is weaker today with CHOICE Beef down .65 to 263.16 and SELECT up 1.04 to 254.72. Yesterday, Choice was up 2.18 and Select was up 2.00.
Lean Hog futures are narrowly mixed and remain under pressure from cash hog and pork markets. Nearby Lean Hog futures have not been this low since September 2012. FOB Plant pork is down 1.31 to 83.00 on weaker picnic and rib values.
Corn Mar -1 380; Jly -1 394; Dec unch 408 Bean Mar -20 989; Jly -19 1001; Nov -18 973 Meal -9 326 Oil -1 3281 Wheat Mar -6 531; Jly -5 540 KC -2 573; MGE -1 579 Oats unch 282 Rice +10 1125
LC Feb -55 15520; Jun -50 14710; Oct -12 14827 FC Jan -382 21632; Mar -332 20677; Aug -265 21075 LH Feb -10 7592; Apr +27 7827; Jun +12 8837 Milk Jan +13 1603; Feb +9 1445
US$ +.5%
Dow -.4% SP -.5% NAS -.8% Tran -.1% VIX +4.7% 22.50
WTI -2% Brent -.8% Gas -2.2% NG -1.4% HO -1.1% Eth -1.8% Gold +2.3% Slvr +.4%
5-yr -.066 1.237% 10yr -.057 1.778% 30yr -.033 2.417%
Blue Grass Stockyards Cattle Weekly Summary Report for the week ending 01/13/15 Receipts: 2152 Last Week: 2178 Year Ago: 3987 Compared to last week lightweight steers 5.00 lower middleweights steady to 4.00 lower with most decline on 500-700 lbs which has followed the downward trend in CME futures prices. Yearling steers sold 2.00 to 5.00 lower compared to last week. Heifer calves under 500 lbs sold steady to firm with good demand; over 500 lbs sold weak with moderate demand. Slaughter cows and slaughter bulls sold steady with good demand. CME futures more erratic since futures limits changed Dec. 17 which has created more volatility in the cash market. Total supply included 05% slaughter cows, 01% slaughter bulls, 01% replacements and 93% feeders. Feeder supply 43% steers, 25% bulls, 32% heifers with 49% of feeders weighing over 600 lbs.
Tagged Post Topics Include: Economics, Market updates
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