Market Update - November 13, 2015
Posted on Nov 13, 2015Cattle futures are down sharply after staging a 2-day rally off new contract lows (in some contracts). Futures started today close to unchanged but have sold off as traders learned the boxed beef market is down another $2.50/cwt on top of yesterday’s $3.00 loss. Choice is quoted at 209.37/cwt at midday. Choice was $215.66 a week ago and $220.04 two weeks ago.
Lean Hog futures are also down sharply as the pork cutout value falls sharply and traders are selling nearly all commodities today. FOB Plant Pork is down a huge 3.13 to 73.04 as all cuts suffer large losses.
Corn Dec -2 359; Jly -2 379; Dec16 -3 289 Bean Jan -7 856; Jly -6 869; Nov -4 875 Meal -2 289 Oil -37 2707 Wheat Dec -3 495; Jly -4 500 KC -2 462; MGE -2 503 Oats +2 232 Rice -20 1215
LC Dec -277 13037; Apr -275 13220 FC Nov -247 17290; Jan -397 16292; Apr -450 limit 16130 LH Dec -182 5427; Apr -132 6225 Milk Nov -1 1542; Dec -7 1505
US$ +.6% Dow -.5% SP -.4% NAS -.7% Tran unch VIX +5% 19.31
WTI -2.7% Brent -.8% Gas -1.4% NG +4.6% HO -.8% Eth -.8% Gold unch Slvr -.1%
5-yr -.050 1.668% 10yr -.041 2.278% 30yr -.030 3.056%
Tagged Post Topics Include: Economics, Market updates
Comments