Market Update - November 30, 2012

Posted on Nov 30, 2012
  Although fundamentals and the outside markets are mostly unchanged, the CBOT futures are down sharply on spec fund liquidation. Given the recent futures rally off the mid-November lows and the political maneuvering in Washington DC, traders are taking risk off the table through the weekend.  Treasuries are attracting money and yields slipping very slightly.

  Cattle futures are lower, with Live Cattle down sharply.  This drop accelerates the price correction that has occurred all week.  Nearby LC futures have given back about half of the November rally.  The selloff at the CBOT and general risk-off trade today are encouraging profit-taking by the longs.

  Lean Hog futures are mixed, but holding up well considering the weakness seen at the CBOT and in cattle.

Corn Dec -8 743; Mar -9 749; Dec’13 -3 633

Bean Jan -16 1432; Mar -16 1425; Nov -9 1300   Meal Dec -4 439; Oct -4 370   Oil -51 4926

Wheat Dec -21 848; Jly -14 873   KC -18 899; MGE -11 920  

LC Dec -117 12702; Apr -125 13465 FC Jan -37 14637; Apr -62 15030;Aug -52 15612

LH Dec +30 8400; Apr +5 9145

Milk Dec -12 1895; Jan -3 1889

Oats -10 350 (down 21 cents in 2 days)

Rice +4 1515

 US$ -.1%

Dow -31 12991 SP -4 1412 NAS -12 3000 Tran -46 5099 VIX +.86 15.92

WTI +35 8842 Brent -18 10058 Gas steady NG -1 364 HO steady Eth -2 240

Gold -15 1712 Slvr -74 3361

5-yr -.010 0.622% 10yr -.007 1.613% 30yr -.003 2.794%

Tagged Post Topics Include: Economics, Market updates