Market Update - March 26, 2015

Posted on Mar 26, 2015
CBOT futures are trading lower with prices at or near the day’s lows. CBOT traded higher overnight but headed lower by 9 am, led down by the wheat contracts. Weekly export sales were disappointing for wheat, but strong for soybeans. Wheat futures have now lost over half of the gains made during March. Corn futures are charting bearish outside-down days. Outside markets are volatile with a mixed influence on commodities.

Cattle futures are trading lower but still relatively near the highs set Monday/Tuesday. Given yesterday’s sharp drop in equities and a jump in energy futures, traders are being cautious until cash cattle trade this week. The boxed beef market has been supportive this week. Choice beef is up .45 at 250.96 and Select is up .12 at 247.26.

Lean hog futures are trading mixed with support in the closer contracts and weakness in the deferred ones. While cash hog prices are not rising, pork values are reversing yesterday’s weakness. FOB Plant Pork is up 1.51 at 68.33 with all primal cuts higher.

Corn May -5 390; Jly -5 398; Dec -4 414 Bean May -5 974; Jly -5 977; Nov -3 954 Meal May -2 323; Oct 01 314 Oil +7 3111 Wheat May -16 503; Jly -16 508 KC Jly -18 550; MGE -14 572 Oats -1 281 Rice +4 1100

LC Apr -50 16122; Jun -57 15180; Oct -87 15127 FC Apr -47 21677; Aug -80 21695; Oct -127 21390 LH Apr +100 6082; Jun +10 7470; Oct -42 6727 Milk Apr -5 1552; may -12 1539

US$ +.2%

Dow steady SP steady NAS -.2% Tran -.5% VIX +1.2% 15.63

WTI +3.3% Brent +4% Gas +2.3% NG -2.3% HO +3.3% Eth -.3% Gold +.6% Slvr +.6%

5-yr +.030 1.446% 10yr +.050 1.970% 30yr +.057 2.558%

Blue Grass Stockyards Cattle Weekly Summary Report for the week ending 03/24/15

Receipts: 4703 Last Week: 3039 Year Ago: 3368 ***Total receipts include 354 head sold in cow sale Wed. night. Compared to last week steers and heifers sold steady; however softer undertone for fleshy offerings as buyers begin taking their pick of calves due to large volume of light and middleweight calves coming to town. Very good demand for hard thin calves and moderate demand for fleshy offering. Yearling steers sold steady to 3.00 higher with moderate demand. Slaughter cows sold 2.00 to 4.00 lower with light demand; market flooded with slaughter cows this week. Slaughter bulls sold steady to weak with moderate demand. Quality was good through attractive.

Tagged Post Topics Include: Economics, Market updates