Market Update - March 13, 2013 - Kentucky Farm Bureau

Market Update - March 13, 2013

Posted on Mar 13, 2013
The CBOT has a decidedly bearish tone to it today with the US dollar up 0.5 pct. Soybean and soybean meal futures are leading the market lower. Given Friday’s WASDE update was a little negative for soybean price, Monday’s higher close now appears to have been an anomaly now that futures have dropped for two days – with the May contract down nearly 40 cents. The weekly continuation chart has a bearish reversal which will look even worse if the May contract closes below $14.60 on Friday (as it replaces the March contract). Click HERE to see chart.

Cattle futures are higher on better boxed beef values on Tuesday and continued hope for stronger cash markets. Lower CBOT futures are supporting feeder futures.

Lean hog futures are trading mixed as the cash hog and pork markets lack definitive direction.

Corn May -9.5 705; Jly -7 687; Dec -5.5 552 Bean May -26.5 1442; Jly -24 1421; Nov -10.5 1259   Meal May -9 427.5; Oct -2 357   Oil -55 4943 Wheat May -3 701; Jly -4 700; dec -4 720   KC -3 732; MGE -5 786

LC Apr +55 12925; Jun +22 12410; Oct +20 12955 FC Mar +75 13955; Apr +92 14312; Aug +107 15230 LH Apr +5 8150; Jun -40 9065; Oct -50 8232 Milk Mar -2 1697; Apr unch 1707

Oats -5 389 Rice -11 1512 

US$ +.5%

Dow -.1%

SP unch

NAS unch

Tran +.9%

  VIX +1% 12.40

WTI +.4%

Brent -.5%

Gas +.3%

NG +.5%

HO unch

Eth -.8%

Gold -.4%

Slvr -1%

5-yr +.02 0.89% 10yr +.03 2.04% 30yr +.02 3.24% 

Blue Grass Stockyards      Cattle Report for 03/12/2013 Receipts:  1,363   Last Tuesday:  955   Year Ago:  1,323    Compared to Monday, steer calves sold 2.00 to 5.00 lower with light demand.  Yearling steers sold 2.00 to 4.00 lower with light demand.  Heifer calves sold 2.00 to 5.00 lower with light demand.  Yearling heifers light test.  Slaughter cows and slaughter bulls sold about steady in a very light test. Packer demand good.

   Total supply included 02% slaughter cows, less than 01% slaughter bulls, 01% replacements and 97% feeders.  Feeder supply 66% steers, 05% bulls, 29% heifers with 79% of feeders weighing over 600 lbs.

Tagged Post Topics Include: Economics, Market updates


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