Market Update - November 25, 2014
Posted on Nov 25, 2014Cattle futures are lower except for the nearby December LC contract which is supported by firm cash markets. The January Feeder Cattle contract gapped lower in follow-through selling to Monday’s LIMIT-DOWN trade. Traders are banking profits and will enjoy Thanksgiving early.
Lean Hog futures are down moderately after an early-morning rally failed. Weakness in cattle futures may be weighing on LH, but midday pork values are up .60 to 94.01.
US equities are steady (near records for DOW and SP500) and energy futures are lower after mixed economic reports today. The good news was a strong 3rd quarter GDP of +3.9% (vs 3.5% initial estimate), but bad news came in Consumer Confidence falling to 88.7 in November from 94.1 in October.
Corn Dec +5 372; May +5 394; Dec +5 416 Bean Jan +18 1051; May +16 1062; Nov +14 1023 Meal Dec +15 389; May +6 349 Oil +24 3344 Wheat Dec +8 551; Jly +6 569 KC +12 616; MGE +9 588 Oats -5 301 Rice -5 1239
LC Dec unch 16950; Apr -70 16810; Jun -110 16037 FC Jan -217 23117; Mar -187 22957; Aug -185 23015 LH Dec -87 9045; Feb -100 8950; Jun -105 9810 Milk Dec +6 1864; Jan +4 1745
US$ -.3%
Dow steady SP -.1% NAS +.1% Tran +.5% VIX +.6% 12.70
WTI -1.7% Brent -1.4% Gas -.3% NG -.1% HO -.6% Eth -.7% Gold +.2% Slvr +.9%
5-yr unch 1.602% 10yr -.009 2.299% 30yr -.010 3.007%
BLUEGRASS SOUTH Stanford,KY CATTLE WEIGHED AT TIME OF SALE Weighted Average Report for 11/24/2014
Receipts: 1390 Last Week: 419 Year Ago: 394
COMPARED TO LAST MONDAY:FEEDER STEERS AND HEIFERS 2.00-4.00 HIGHER,GOOD DEMAND,MODERATE DEMAND FOR PLAINER LESS ATTRACTIVE CALVES, SUPPLY INCLUDED 78 PERCENT OVER 600 LBS AND 76 PERCENT HEIFERS, SLAUGHTER COWS 5.00-8.00 LOWER,SLAUGHTER BULLS STEADY, GOOD DEMAND FOR SLAUGHTER CLASSES.
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Tagged Post Topics Include: Economics, Market updates
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