Market Update - May 12, 2014
Posted on May 12, 2014Live Cattle futures are up slightly on a steady/firm cash cattle market on Friday and futures discount to recent cash activity. Deferred feeders are up sharply as CBOT futures drop.
Lean Hog futures are down strongly through June due to weak cash markets and June’s premium to cash hogs. Market needs to see wholesale pork value improve – at midday, $2.50 gains are reported.
Corn Jly -8 499; Dec -7 491 (490-96) Bean Jly -15 1472; Nov -11 1215 (1213-29) Meal Jly -7 480; Oct -5 388 Oil +9 4127 Wheat Jly -12 710 (700-22); Dec -12 733 KC -6 823; MGE -5 790 Oats +2 355 Rice -8 1534
LC Jun +35 13840; Dec +60 14537 FC May +65 18522; Aug +145 19282 LH May -147 13320; Jun -130 11887; Oct +7 10422 Milk May -1 2270; Jun -17 2106
US$ steady
Dow +.6% SP +.8% NAS +1.5% Tran +1.6% VIX -5.3% 12.24
WTI +.7% Brent +.4% Gas +.4% NG -1.6% HO +.5% Eth -1%
Gold +.8% Slvr +2.5%
5-yr +.02 1.645% 10yr +.03 2.65% 30yr +.02 3.485%
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Tagged Post Topics Include: Economics, Market updates
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