Market Update - October 24, 2014 - Kentucky Farm Bureau

Market Update - October 24, 2014

Posted on Oct 24, 2014
CBOT futures traded higher through the night, but headed lower once trading restarted at 830 am CT. November Soybean Complex options expire today. Pressure may be coming from profit-taking before the weekend and concerns that forecasts could turn wetter for South America. It appears that increased selling capped the November Soybean contract once price went above $10.00.

Cattle futures are lower as the boxed beef market closes the week on a down note.  CHOICE beef is down 2.39 to 247.04 and Select is down 1.10 to 232.44. This adds to yesterday’s losses of 1.57 in Choice and 1.53 in Select. USDA will release the monthly Cattle on Feed Report this afternoon.

Lean Hog futures are down as cash hog and pork values drop. FOB Plant Pork is quoted down 2.34 to 98.20/cwt. Loins are down 3.90 to 106.55, picnics down 8.39 to 78.66 and hams are down 1.78 to 88.98.

Corn Dec -5 355 (354-65); May -5 377; Dec -5 400 Bean Nov -10 983 (982-1002); May -9 1004; Nov -5 984 Meal Dec -4 348; May -4 326 Oil -25 3242 Wheat Dec -2 524; Jly -3 552 (551-66) KC -4 601; MGE unch 571 Oats -6 354 Rice -3 1244

LC Oct -10 16895; Feb -65 16820; FC Oct -147 23875; Nov -65 23605; Mar -42 22850 LH Dec -20 8852; Apr -82 8772 Milk Oct -4 2290; Nov -22 2079

US$ -.2%

Dow +.5% SP +.5% NAS +.4% Tran +.4% VIX -1.7% 16.24

WTI -1.9% Brent -1.4% Gas -1.3% NG -1.5% HO -1.7% Eth -1.9% Gold +.2% Slvr +.4%

5-yr -.003 1.491% 10yr -.009 2.269% 30yr -.002 3.044%

Oct 23, 2014    Paris Stockyards, Paris KY

*Cattle weighed at time of sale.* Cattle Receipts: 3470 Last week: 2221 Last year: 1954 Compared to last week: Steers sold steady to firm and Heifers steady to firm except 400-500 lbs 3.00 to 6.00 higher. Slaughter Cows were 3.00 to 5.00 lower and Slaughter Bulls 4.00 to 5.00 lower. KENTUCKY CASH GRAIN PRICES Click Here 

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Tagged Post Topics Include: Economics, Market updates


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