Market Update - September 10, 2014
Posted on Sep 10, 2014Cattle futures are down sharply after trading higher overnight. Reasons for the sharp downside reversal are not available at this time but possibly box beef values have slipped. Technical selling has probably exaggerated the decline.
Corn Dec +1 346; May +1 367 Bean Nov +4 996; May +3 1015 Meal Oct +2 354; May +1 333 Oil unch 3156 Wheat Dec -6 522; Jly -5 559 KC -5 618; MGE -4 601 Oats +4 353 Rice -8 1227
LC Oct -92 15875 (hi 16175); Apr -80 15745 (hi 15945) FC Sep -162 22700 (hi 23070); Mar -207 21670 (hi 22030) LH Oct +70 10647; Feb -270 9110 (hi 9425) Milk Sep -7 2445; Oct -25 2332
US$ +.2%
Dow +.1% SP +.1% NAS +.2% Tran -.3% VIX +.4% 13.56
WTI -1.5% Brent -1.4% Gas -1.2% NG -.5% HO -1.5% Eth -1.3% Gold unch Slvr +.2%
5-yr +.013 1.773% 10yr +.032 2.532% 30yr +.037 3.269%
Blue Grass Stockyards Cattle Report for 09/09/2014 Receipts: 1197 Last Tuesday: 1066 Year Ago: 1430 Compared to yesterday steady to 4.00 higher with most advance on 400-600 lb steers. Heifer calves sold steady except 600-700 lb weaned calves 3.00 higher with very good demand. Quality was good through attractive with more weaned packages on the market today that were in very good demand. Yearling steers and heifers good demand in limited comparison with yesterday’s light test. Slaughter cows and slaughter bulls sold steady with very good demand. Total supply included 06% slaughter cows, 01% slaughter bulls, 01% replacements and 92% feeders. Feeder supply 45% steers, 11% bulls, 44% heifers with 55% of feeders weighing over 600 lbs.
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Tagged Post Topics Include: Economics, Market updates
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