Market Update - September 19, 2012

Posted on Sep 19, 2012
  After 2 days of lower prices, CBOT futures are trading higher today as fund selling subsides and end users do some buying.  However, today’s gains don’t negate recent technical weakness in these crops. Prices are mostly just above some important chart support levels.

  Outside markets are mixed with the US dollar turning weaker, but energy futures are down sharply. Oil inventories are building.

  Livestock futures are trading lower after seeing gains on Tuesday. There’s a lack of fundamental news to boost prices.

 Corn Dec +8 748; Mar +7 751; Dec’13 +3 635

Bean Nov +23 1663; Mar +17 1617; Nov’13 +19 1364   Meal Oct +8 500; May +5 448   Oil +31 5522

Wheat Dec +10 873; Jly +11 857   KC +6 895;  MGE +10 934

LC Oct -40 12600; Feb -50 13175

fC Sep -77 14450; Oct -80 14675; Jan -90 15005

LH Oct +5 7415; Dec -22 7397

Milk Sep +1 1887; Oct +6 2003

Oats unch 374

Rice +1 1496

 US$ -.1%

Dow +.2%

SP +.2%

NAS +.1%

Tran +.1%

 VIX -2.9%  13.77

WTI -3.1%

Brent -3.1%

Gas -2.1%

NG +2%

HO -2.3%

Eth -.2%

Gold +.1%

Slvr -.2%

5-yr -.018 0.684%

10yr -.037 1.775%

30yr -.044 2.965%

Blue Grass Stockyards                                        Cattle Report for 09/18/2012  Close

Receipts:  934   Last Tuesday:  1,620   Year Ago:  1,507

   Compared to Monday, steer calves sold firm with very good demand.  Heifer calves sold steady to 1.00 higher with good demand.  Yearling steers sold steady to 2.00 higher with very good demand.  Yearling heifers light test and not fully established.  Slaughter cows sold steady to 2.00 lower with light demand. Slaughter bulls sold steady to 1.00 lower with moderate demand.

   Total supply included 07% slaughter cows, 01% slaughter bulls, 1% replacements and 91% feeders.  Feeder supply 59% steers, 14% bulls, 27% heifers with 56% of feeders weighing over 600 lbs.

Tagged Post Topics Include: Economics, Market updates