Market Update - November 27, 2012

Posted on Nov 27, 2012
  CBOT futures are trading higher and near the day’s highs as the upward momentum continues.   Unfavorable weather in various world locations offers support as well as hope for stronger exports of U.S. supplies.  The low-water situation on the Mississippi River between St. Louis and Cairo threatens barge traffic.

  Live Cattle futures are catching a bid again after Monday’s profit-taking price drop.  Some fed cattle sold Monday at steady money with last week, but feedlots are asking for more.  Today’s economic reports were positive, so that is helpful.  The Conference Board said its consumer confidence index rose to 73.7 in November from 73.1 in October. Both are the best readings since February 2008.

  Lean Hog futures are trading lower with larger losses in the deferred futures.  December futures is at a premium to the cash hog market.

Corn Dec +4 751.5; Mar +4 755; Dec’13 +4 633

Bean Jan +18 1443; Mar +17 1429; Nov +12 1308   Meal Dec +5.5 437; Oct +2.5 372   Oil +55 4982

Wheat Dec +16 865; Jly +14 874   KC +18 903;  MGE +16 931

LC Dec +30 12870; Apr +22 13607; Jun +20 13212 FC Jan +2 14737; Apr -17 15137; Aug -12 15650

LH Dec -20 8227; Feb -30 8667; Jun -60 10025

Milk Dec -4 1904; Jan -2 1858

Oats +1 369.5

Rice +13 1505 

US$ +.3%

Dow -.3%

SP -.2%

NAS -.1%

Tran +.1%

VIX -1.3% 15.29

WTI -.4%

Brent -.8%

Gas unch

NG +.7%

HO -.8%

Eth +.5%

Gold -.3%

Slvr -.2%

5-yr -.006 0.663% 10yr -.010 1.656% 30yr -.007 2.796% 

Blue Grass Stockyards Cattle Auction Report for 11/26/2012 Receipts:     1,892   Last Monday:  1,566   Year Ago:     1,235    Compared to last week, steer and heifer calves sold 1.00 to 4.00 higher with most advance on 400-500 lb calves with good demand. Yearling steers sold 2.00 higher in a limited comparison with good demand. Yearling heifers sold 2.00 higher in a limited comparison. Slaughter cows sold steady to 1.00 higher with light demand; moderate demand for high dressing cows.  Slaughter bulls sold steady to 2.00 higher with moderate to good demand.

   Total supply included 08% slaughter cows, 02% slaughter bulls, 01% replacements and 89% feeders.  Feeder supply 36% steers, 31% bulls, 33% heifers with 50% of feeders weighing over 600 lbs.

Tagged Post Topics Include: Economics, Market updates