Grain and oilseed futures are trading lower except for soybean oil which is supported by the rising price of crude oil and products.  Today’s pressure on grain and soybean futures is being blamed on weather forecasts that could move rainfall farther south and benefit HRW wheat and allow more planting in the western Corn Belt and northern Plains.  That forecast could change before we get there.

Live Cattle futures are trading higher following Tuesday’s big gains in boxed beef values and the June contract’s steep discount to the last cash trade of $146. The June LC contract is charting a down-sloping CHANNEL which could become a bullish flag if prices break out to the upside -- with a target of $140 to $144.

Lean Hog futures are up sharply as the May LH contract expires today.  Tuesday’s strong cash hog market combined with higher pork values this morning are encouraging the buyers.  FOB Plant Pork up 1.57 to 113.19/cwt.

Treasury yields are down sharply as investors are cautious about the US stock market which has the SP500 at record highs.  Also pressuring yields are signs that the European Union will be easing monetary policy to encourage inflation.

Corn Jly -5 498; Dec -4 491 Bean Jly -12 1471; Nov -6 1213 Meal Jly -6 479; Oct -4 386 Oil +16 4137 Wheat Jly -18 691; Dec -18 715 KC -18  807;  MGE -18 777 Oats -2 353 Rice -2 1530

LC Jun +85 13785; Oct +100 14290 FC May +75 18547; Aug +122 19290; LH Jun +245 12205; Oct +145 10675 Milk May unch 2265; Jun +14 2084

US$ -.1% Dow -.3% SP -.2% NAS -.3% Tran -.6% VIX -.5%  12.07

WTI +.6% Brent +.6% Gas +.7% NG +.1% HO +.5% Eth +1.9%

Gold +.8% Slvr +1.3%

5-yr -.074 1.546% 10yr -.086 2.532% 30yr -.084 3.370%

Blue Grass Stockyards Cattle Report for 05/13/2014 Receipts:  1223   Last Tuesday:  1289   Year Ago:  1276 Compared to Monday’s sale Steer and Heifer calves sold steady. Not enough heavy Feeder Cattle for an accurate market comparison but a higher undertone noted.  Demand very good for all classes.  Full range of quality in today’s offering, including consignments of high quality Feeder Steers in light flesh and offered with a good weigh up.  Slaughter Cows and Bulls steady.  Offerings today did not include the quantity of high yielding cattle on offer yesterday.

Total supply included 07% slaughter cows, 01% slaughter bulls, less than 01% replacements and 92% feeders.  Feeder supply 58% steers, 14% bulls, 28% heifers with 54% of feeders weighing over 600 lbs.

 KENTUCKY CASH GRAIN PRICES – Click Here 

KENTUCKY LIVESTOCK AUCTIONS --  Click Here 

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