Following Monday’s huge losses, CBOT futures continued to see pressure in the overnight session, especially for soybeans.   However, soybean futures have been moving up since the 930 am opening bell in the pit. The outside markets are showing little change at this hour, so the spec funds may be taking a break from selling, allowing prices to recover.

  Live Cattle prices are trading steady but mixed.  Boxed beef was strong on Monday, so some strength may show up.  Feeders are trading lower as the CBOT sell-off ends for now.

  Treasury bonds are getting back some of their value lost last week after the FOMC announced its monetary easing plans.

 Corn Dec +3 751 (743-754); Mar +1 754; Dec’13 unch 641

Bean Nov -5 1664 (1630-1669); May -7 1545; Nov’13 +14 1355  Meal -1.4 502   Oil -6 5492

Wheat Dec -2 876; Jly -4.5 858 (855-869)   KC -1 900; MGE +3 933

LC Oct +45 12590; Feb -15 13180

FC Sep -52 14480; Oct -12 14687; Jan -37 15035

LH Oct +60 7397; Feb +20 7937

Milk Sep +2 1888; Oct -7 1977

Oats -6 378

Rice +4 1533

 US$ +.2%

Dow +.1%

SP -.1%

NAS steady

Tran -1.1%

 VIX -1.4% 14.38

WTI -.2%

Brent -.2%

Gas -.2%

NG -.4%

HO -.1%

Eth -.3%

Gold +.1%

Slvr +1.5%

5-yr -.032 0.686%

10yr -.077 1.793%

30yr -.098 2.994%

 

Blue Grass Stockyards Cattle Auction Report for 09/17/2012 Receipts:  1,309   Last Monday:  1,274   Year Ago:  1,608

   Compared to last week, steer calves sold steady with very good demand.  Heifer calves sold steady with good demand.  Yearling steers sold steady in a light test with good demand.  Yearling heifers sold 2.00 higher in a limited comparison with very good demand.  Slaughter cows sold 1.00 to 3.00 lower with light demand.  Slaughter bulls sold steady with good demand.

   Total supply included 07% slaughter cows, 02% slaughter bulls,less than 1% replacements and 91% feeders.  Feeder supply 30% steers, 29% bulls, 41% heifers with 37% of feeders weighing over 600 lbs.