Market Update - November 5, 2014 - Kentucky Farm Bureau

Market Update - November 5, 2014

Posted on Nov 5, 2014
CBOT futures are mixed at midday. Corn and soybean futures erased early losses for uncertain reasons. The grain rally began at the same time that energy futures shot higher but energy quickly moderated those gains while CBOT has kept rising. Wheat futures are down on lack of export business amid a rising US dollar.

Livestock futures are trading down on demand concerns amid rising supplies of pork and chicken. At midday, pork and beef values are higher. CHOICE beef up .40 to 250.54. FOB Plant Pork up 1.04 to 96.71.

Corn Dec +4 369 (359-69); May +4 390; Dec +4 412 Bean Jan +1 1011 (995-1017); May +2 1021; Nov unch 998 Meal Dec +3 375 Oil -35 3272 Wheat Dec -5 525; Jly -5 550 KC -5 585; MGE -6 563 Oats -1 341 Rice +2 1246

LC Dec -100 16565; Feb -97 16642; Jun -70 15622 FC Nov -102 23610; Mar -27 22825 LH Dec -60 8737; Apr -85 8785 Milk Nov +27 2169; Dec +29 1948

US$ +.4%

Dow +.5% SP +.5% NAS +.1% Tran +.3% VIX -1% 14.73

WTI +1.6% Brent +.7! Gas +.8% NG +1.5% HO unch Eth +2.8% Gold -1.8% Slvr -2.8%

5-yr +.005 1.639% 10yr +.015 2.357% 30yr +.018 3.071%

Blue Grass Stockyards Cattle Report for 11/04/2014 Receipts: 1517 Last Tuesday: 1764 Year Ago: 1503 ***Graded Holstein sale Wed. night at 6:30 p.m. Compared to Monday steer and heifer calves sold steady to 2.00 higher with moderate demand, very good demand for weaned calves. Quality was average to good with more good quality packages than yesterday. Yearling steers and heifers limited comparison with yesterday however compared to last week yearling steers sold steady with good demnad. Yearling heifers sold firm with good demand. Slaughter cows sold 1.00 lower with moderate demand. Slaughter bulls sold steady with moderate demand. Total supply included 07% slaughter cows, 01% slaughter bulls, less than 01% replacements and 92% feeders. Feeder supply 50% steers, 15% bulls, 35% heifers with 56% of feeders weighing over 600 lbs.

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Tagged Post Topics Include: Economics, Market updates


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