Dairy markets rebound

Futures Markets copy

Despite the big drop on Monday, dairy markets recovered quite nicely by the end of the week on the Chicago Mercantile Exchange. On Friday barrels slipped 1.25 cents, blocks gained a quarter-cent, butter increased 4 cents and nonfat dry milk was a quarter-cent higher. Class III futures were mixed. Compared to a week ago, cash… Read more »

Chinese cancellation sends soybeans lower

Futures Markets copy

  Soybeans were lower on fund and speculative selling. China canceled on 200,000 tons of previously purchased new crop U.S. beans, confirming some recent market chatter. Near term crop weather forecasts are non-threatening with seasonal temperatures and rainfall for much of the Midwest. Soybean meal and oil were lower on spillover from beans. Friday was… Read more »

Cattle trade at higher prices

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USDA Mandatory reported cattle trading and demand was moderate in Kansas Friday afternoon. Compared to last week, live sales were 2.00 higher at 147.00. Trading was light in Nebraska on moderate demand. Compared to the previous week, live and dressed sales were 2.00 higher at 147.00 to 148.00 live, and 234.00 dressed. Dressed sales in… Read more »

Closing Grain and Livestock Futures: July 31, 2015

Futures Markets copy

Sep. corn closed at $3.71, down 2 and 1/4 cents Aug. soybeans closed at $9.80 and 3/4, down 9 and 1/2 cents Aug. soybean meal closed at $354.60, down $2.50 Aug. soybean oil closed at 29.98, down 30 points Sep. wheat closed at $4.99 and 1/4, up 2 and 3/4 cents Aug. live cattle closed at $145.70, up 47 cents Aug. lean hogs closed at $78.50, down $1.17 Sep. crude oil… Read more »

Midday livestock markets

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The feedlot cattle trade is very slow to start on Friday with just a few more bids on the table from 143.00 to 145.00 live, and 230.00 dressed. Bids are still a long way from the current asking prices of 148.00 in the South and 236.00 plus in the North. Packer inquiry should start to… Read more »

Cheese and butter up again

Futures Markets copy

Another good day in the cash cheese and butter markets on Thursday. Barrels increased 2 cents, blocks gained 4.5 cents and butter was 4.25 cents higher. Nonfat dry milk slipped 2.5 cents per pound.  Class III futures increased with the cheese market, August gained 8 cents, September added 24 cents and October increased 18 cents…. Read more »

Corn, soybean support limited by weather

Futures Markets copy

  Soybeans were higher on commercial and technical buying. Weekly export numbers were neutral to a little supportive and unknown bought 140,000 tons of new crop U.S. beans. Crop weather forecasts for the Midwest are generally non-threatening. Soybean meal and oil were higher, following beans. Meal outgained oil by a significant margin due to commercial… Read more »

Boxed beef firms

Futures Markets copy

Boxed beef cutout values were steady to firm on moderate demand and light to moderate offerings. Choice beef was up 72 at 233.34, and select was .25 higher at 229.32. Cattle trade was untested on Thursday afternoon with bids and asking prices separated by $4.00 to 5.00 on a live basis. Asking prices are generally… Read more »

Closing Grain and Livestock Futures: July 30, 2015

Futures Markets copy

Sep. corn closed at $3.73 and 1/4, up 5 and 1/2 cents Aug. soybeans closed at $9.90 and 1/4, up 7 and 1/4 cents Aug. soybean meal closed at $357.10, up $7.10 Aug. soybean oil closed at 30.28, up 7 points Sep. wheat closed at $4.96 and 1/2, up 1/4 cent Aug. live cattle closed at $145.22, up 30 cents Aug. lean hogs closed at $79.67, down 17 cents Sep…. Read more »

Midday cash livestock markets

Futures Markets copy

There are a few more scattered bids in the cattle at midday at 143.00 to 144.00 on the live basis and 228.00 dressed. The bids are far below the asking prices of 148.00 and 236.00 plus. Packer inquiry should improve today, but it is possible significant trade volume will be delayed until Friday. Boxed beef… Read more »