What’s pushing butter?

Futures Markets copy

A very strong day to finish the week in the dairy markets on the Chicago Mercantile Exchange on Friday.  Cash cheese barrels gained 2 cents, blocks increased 1.5 cents, nonfat dry milk added 1.75 cents and butter jumped 10.5 cents on 10 unfilled bids.  Class III futures increased accordingly. For the week: cash cheese barrels… Read more »

Weather, RFS send corn lower

Futures Markets copy

  Soybeans were higher on fund and commercial buying. Weekly export numbers were strong and sales are ahead of the USDA projection for the marketing year. Unknown destinations bought 202,000 tons of new crop U.S. beans. Soybean meal was mostly weak on end of the month position squaring. Soybean oil was sharply higher on the… Read more »

Cattle, hog futures close lower

Futures Markets copy

  Chicago Mercantile Exchange live cattle futures were lower Friday on end of the month profit taking, the midday drop in boxed beef, and traders waiting for widespread direct cash business. June was down $1.17 at $152.32 and August was $1.47 lower at $151.27. Feeder cattle futures were sharply lower on the slow to develop… Read more »

Closing Grain and Livestock Futures: May 29, 2015

Futures Markets copy

Jul. corn closed at $3.51 and 1/2, down 2 cents Jul. soybeans closed at $9.34, up 8 cents Jul. soybean meal closed at $305.70, up 90 cents Jul. soybean oil closed at 33.33, up 127 points Jul. wheat closed at $4.77, down 11 and 3/4 cents Jun. live cattle closed at $152.32, down $1.17 Jun. lean hogs closed at $83.82, down 77 cents Jul. crude oil closed at $60.30, up $2.62… Read more »

Friday midday cash livestock markets

Futures Markets copy

  At midday on Friday, direct cash cattle markets are quiet. Packers may have been short bought to start out the week, but that didn’t motivate any early direct cash trade. Asking prices are holding at $163 to $164 in the South and $258 to $260 in the North. Opening bids are $160 Live and… Read more »

Corn manages modest gains

Futures Markets copy

  Soybeans were lower on fund and speculative selling, with November trading below $9 at times. Near term demand continues to be strong, but the trade is expecting a big crop this year. Beans are also keeping an eye on labor issues at key ports in Argentina. Soybean meal was lower and bean oil was… Read more »

Feeder cattle futures sharply higher

Futures Markets copy

  Chicago Mercantile Exchange live cattle futures were higher, watching the direct cash cattle markets. There was also some spillover from the strength in feeders. Gains were limited by the lower midday boxed beef. June was $1.02 higher at $153.50 and August was up $1.32 at $152.75. Feeder cattle futures were sharply higher on the… Read more »

Closing Grain and Livestock Futures: May 28, 2015

Futures Markets copy

Jul. corn closed at $3.53 and 1/2, up 4 cents Jul. soybeans closed at $9.26, down 1 cent Jul. soybean meal closed at $304.80, down $3.30 Jul. soybean oil closed at 32.06, up 33 points Jul. wheat closed at $4.88 and 3/4, up 1 cent Jun. live cattle closed at $153.50, up $1.02 Jun. lean hogs closed at $84.60, up 82 cents Jul. crude oil closed at $57.68, up 17 cents Jul…. Read more »

Cash cheese higher

Futures Markets copy

  In the spot dairy market Thursday, cash cheese was higher. Barrels were up four and a half cents at $1.65. There were 10 loads sold, ranging $1.615 and the closing price. The last bid unfilled was on two loads at $1.65. Blocks were two cents higher at $1.68. There was one load sold at… Read more »

Thursday midday cash livestock markets

Futures Markets copy

  At midday on Thursday, direct cattle markets are quiet. Packer inquiry should improve as the day goes on, but unless bids and asking prices come a little closer together, widespread trade may wait until Friday. Asking prices are around $163 South and $258 to $260 North. There are a few bids on the table… Read more »