Market Update - October 15, 2014 - Kentucky Farm Bureau

Market Update - October 15, 2014

Posted on Oct 15, 2014
CBOT futures are narrowly mixed with the outside markets getting traders’ attention. The US dollar is down sharply as is the US equity markets. USDA reported U.S. harvest progress at 24% for corn and 40% for soybeans.

Live Cattle futures have turned positive in the nearby October and December contracts. Feeder Cattle are down sharply, possibly on the continued fall in equity markets. Choice Beef was up Tuesday.

Lean Hog futures are hitting LIMIT DOWN following yesterday huge 4+ cent loss in the pork cutout. At midday, pork is up -- FOB Plant Pork up 1.22 at 118.45/cwt.

Corn Dec -4 353; May -4 375 Bean Nov -2 962; May -4 986 Meal Dec +1 325 Oil -38 3249 Wheat Dec +4 513; Jly +4 539 KC +6 596; MGe +5 570 Oats -1 344 Rice -7 1264

LC Oct +20 16455; Feb -15 16345 FC Oct +27 23900; Nov -265 23550; Mar -297 22672 LH Dec -300 9192; Apr -300 8900 Milk Oct -14 2409; Nov -56 2141

US$ -.9%

Dow -1.7% SP -1.7% NAS -1.4% Tran -1.6% VIX +19% 27.13

WTI -4 8180 Gas unch 218 NG -3 378 HO unch 247

5-yr -.200 1.254% 10yr -.190 2.016% Traded below 2% earlier today. 30yr -.151 2.807%

Blue Grass Stockyards Cattle Report for 10/14/2014 Receipts: 1047 Last Tuesday: 1183 Year Ago: 1535 Compared to Monday steer and heifer calves sold steady with good demand on a plain to good quality offering. Yearling steers sold steady to 1.00 higher with good demand. Yearling heifers light test. Slaughter cows sold 3.00 to 5.00 lower with light demand. Slaughter bulls sold 2.00 lower with light to moderate demand. Total supply included 05% slaughter cows, less than 01% slaughter bulls, 0% replacements and 95% feeders. Feeder supply 48% steers, 22% bulls, 30% heifers with 42% of feeders weighing over 600 lbs.

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Tagged Post Topics Include: Economics, Market updates


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