Market Update - October 29, 2012

Posted on Oct 29, 2012
  The nation’s attention is on the historic storm (SANDY) that will hit the Northeast and be felt even in Kentucky. The economic disruption that will occur on the East Coast will hurt meat demand in the short-run.  Consequently, cattle and hog futures are trading moderately lower.

  The soy complex is suffering the larger losses of the day on long liquidation.  If last week’s lows are broken, another 30+ cents of downside is possible.

Corn Dec +1 739; Mar +1 741; Dec’13 unch 635

Bean Nov -26 1535; Mar -26 1511; Nov’13 -10 1330

 Meal Dec -9 474; May -7 433

 Oil -70 5026

Wheat Dec +1 865; Jly unch 865

  KC unch 909; MGE +2 942

LC Oct -45 12505; Dec -47 12477; Jun -82 12927

FC Nov -62 14470; Jan -100 14607; Apr -127 15002

LH Dec -100 7790; Feb -120 8325; Jun -105 9962

Milk Nov -5 2108; Dec -12 2016

Oats -2 388

Rice -2 1477

US$ +.2%

U.S. equity markets are closed due to Hurricane Sandy affecting NY City. Overnight SP500 futures traded lower through 815 a.m. this morning before suspending trade. These markets could be closed through Tuesday.

 WTI -.3%

Brent +.2%

Gas +2%

NG +1%

HO +1%

Eth -.1%

Gold -.2%

Slvr -.7%

5-yr -.022 0.739%

10yr -.038 1.710%

30yr -.040 2.872%

 

Tagged Post Topics Include: Economics, Market updates