Market Update - May 29, 2014
Posted on May 29, 2014Cattle futures are soaring as traders appear optimistic that recent boxed beef strength will translate to higher cash cattle prices. Deferred Feeder Cattle contracts broke out to new highs.
Lean Hog futures are down on weaker cash markets. Fob Plant Pork down 1.73 to 113.52.
Corn Jly -4 468; Dec -4 465
Bean Jly +3 1501; Nov +1 1244
Meal Jly unch 499; Oct +2 409
Oil -25 3938
Wheat Jly -7 631; Dec -8 662
KC -7 729; MGE -4 714
Oats +6 355
Rice unch 1505
LC Jun +207 13822; Dec +150 14620
FC Aug +217 19775; Oct +207 19872
LH Jun -100 11355; Dec -70 9430
Milk Jun -35 2068; Jly -39 2018
US$ -.1%
Dow +.1%
SP +.2%
NAS +.3%
Tran steady
VIX +.7% 11.76
WTI +.7%
Brent +.1%
Gas +.3%
NG +.3%
HO -.1%
Eth unch
Gold -.3%
Slvr -.4%
5-yr +.01 1.48% 10yr -.02 2.415% 30yr -.015 3.273%
Blue Grass Stockyards Cattle Weekly Summary Report for the week ending 05/28/14 Receipts: 1,826 Last Week: 2,109 Year Ago: 1,187
***Total receipts include 342 head sold in cow sale Wed. night.
Compared to last week steer calves under 600 lbs sold 2.00 to 4.00 lower; over 600 lbs sold steady with good demand on an average to good quality offering with fewer weaned calves on the market this week compared with last week. Heifer calves sold steady except featherweights under 400 lbs 10.00 lower in a light test and 600-700 lbs heifers sold 5.00 lower in a light test. Quality was average through good. Yearling steers sold 1.00 to 3.00 higher with very good demand, yearling heifers lightly tested.
Exceptionally good demand for weaned Holstein packages this week with a fancy offering of reputation calves from one farm. Slaughter cows sold steady to 2.00 higher and slaughter bulls sold steady to 1.0 higher with good demand.
Total supply included 06% slaughter cows, less than 01% slaughter bulls, less than 01% replacements and 77% feeders. Feeder supply 69% steers, 12% bulls, 19% heifers with 46% of feeders weighing over 600 lbs.
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Tagged Post Topics Include: Economics, Market updates
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