Market Update - November 1, 2012
Posted on Nov 1, 2012U.S. winter wheat crop condition ratings released yesterday are poor going into late fall. 40% good/excellent is 6 points below last year at this time.
Live cattle futures are slightly higher, fighting the pressure from yesterday’s sharp drop in the cutout value and worries that meat demand will suffer while the Northeast suffers with storm recovery.
Lean Hog futures are also going against the cash market by showing a dollar/cwt gain. Supportive is December futures’ discount to cash hog prices.
Economic reports including Consumer Confidence were positive today so equities are rallying.
Corn Dec +5 761; Mar +6 763; Dec’13 +6.5 643
Bean Jan +20 1569; Mar +20 1543; Nov’13 +13 1357 Meal Dec +6 488; May +6 446 Oil +55 5071
Wheat Dec +12 877; Jly +8 881 KC +12 916; MGE +8 950
LC Dec +12 12605; Apr +5 13402
FC Nov -112 14517; Jan -117 14752; Apr -122 15092
LH Dec +102 7930; Feb +82 8530
Milk Nov +6 2112; Dec +6 2022
Oats -2 387
Rice +6 1489
US$ +.1%
Dow +1%
SP +1%
NAS +1.4%
Tran +1.2%
VIX -8.1% 17.09
WTI +.9%
Brent -.5%
Gas +.6%
NG +.7%
HO -1%
Eth steady
Gold -.1%
Slvr +.1%
5-yr +.003 0.724%
10yr +.026 1.721%
30yr +.045 2.904%
Tagged Post Topics Include: Economics, Market updates
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