Market Update - November 13, 2012
Posted on Nov 13, 2012Across the CBOT quote board, prices are at/near the day’s lows; it doesn’t look like this will be a “Turnaround Tuesday”.
Live Cattle futures are narrowly mixed as the cash market isn’t expected to improve this week ahead of Thanksgiving.
Lean Hog futures are rallying to new highs without much fundamental news to support it.
Corn Dec -2 716; Mar -2.5 720; Dec’13 -2.5 610
Bean Jan -5 1400; Mar -9 1379; Nov’13 -4 1282 Meal Dec -3 429; May -3 404 Oil +4 4743
Wheat Dec -10 848; Jly -10 850 KC -5 886; MGE -2 922
LC Dec +10 12545; Apr -17 13297
FC Nov -65 14335; Jan -45 14550; Apr -45 14985
LH Dec +85 8117; Apr +70 9165
Milk Nov +6 2086; Dec +6 1926
Oats unch 359
Rice -8 1483
US$ steady
Dow +66 12881
NAS +7 1387
SP +2 2906
Tran +46 5105
VIX -2.9% 16.19
WTI +.1%
Brent -.8%
Gas -.5%
NG +4.5%
HO -.9%
Eth -.4%
Gold steady
Slvr +.5%
5-yr -.013 0.630% 10yr -.009 1.605% 30yr -.005 2.742%
NCBA’s ”Cattlemen to Cattlemen” will take a closer look at the current state of the beef industry during a live call-in show tonight at 8:30 p.m. (EST) on RFD-TV. Rebroadcasts occur on November 14 and 17.
Blue Grass Stockyards Cattle Auction Report for 11/12/2012
Receipts: 1,719 Last Monday: 1,755 Year Ago: 2,319 Compared to last week, steer calves sold steady to 2.00 higher with good demand. Heifer calves sold steady with good demand. Yearling steers sold steady to 2.00 higher in a light test. Yearling heifers not fully established. Slaughter cows and slaughter bulls sold about steady with moderate demand.
Total supply included 09% slaughter cows, 01% slaughter bulls, 01% replacements and 89% feeders. Feeder supply 38% steers, 27% bulls, 35% heifers with 46% of feeders weighing over 600 lbs.
Tagged Post Topics Include: Economics, Market updates
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