Market Update - January 7, 2014
Posted on Jan 7, 2014Cattle futures are mostly lower after trading above Monday’s highs in overnight trade. Futures are likely waiting for the cash beef market to lead the way.
Lean Hog futures are lower even though midday pork cutout values are up $1.50-2.00/cwt. February LH’s sharp premium to cash becomes more of a problem the closer we get to February – the two prices should converge by then.
Corn Mar -1 427; Jly unch 442; Dec -1 454 Bean Mar unch 1277; Jly -2 1249; NOV -5 1121 Meal Mar +2 416; Oct -1 351 Oil -18 3794 Wheat Mar +2 608; Jly +3 617 KC +4 648; MGE +5 636 Oats +8 358 Rice -17 1546
LC Feb -22 13660; Jun -30 12980 FC Jan +12 16815; Apr -7 12882 LH Feb -97 8665; Jun -80 10040 Milk Jan +12 2018; Feb +26 2009
US$ +.2%
Dow +.7% SP +.5% NAS +.8% Tran +.7% VIX -4.3%
WTI +.6% Brent +.6% Gas +1.4% NG +1.6% HO +.8% Eth +1.9%
Gold -.8% Slvr -1.8%
5-yr -.01 1.69% 10yr -.01 2.95% 30yr -.01 3.89%
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Tagged Post Topics Include: Economics, Market updates
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