Fonterra cuts milk production forecast

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The worsening drought in New Zealand prompted dairy giant Fonterra to reduce its milk volume forecast for the 2014-15 year by 3.3 percent. Fonterra says total milk volume for the co-op this season will be 1.53 billion kilograms of milk solids, 3.3 percent below the record 1.58 billion last year. (3.36 billion pounds this season compared to 3.47… Read more »

Milk futures, cash dairy prices higher

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  Chicago Mercantile Exchange class three milk futures were sharply higher Thursday, with most of the strength concentrated in the February through December 2015 contracts. Over in the spot market, cash cheese was higher. Barrels were up two and three quarters cents at $1.5025. The last bid unfilled was on one load at the closing… Read more »

Soybeans try to rally, but can’t follow through

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Soybeans were lower on fund and technical selling. Contracts tried to rally but were unable to follow through. Weekly export sales were up sharply on the week, China was the leading buyer, and shipments were strong. Still, that information was relatively old by the time the report was out and South American weather generally looks… Read more »

Light cattle trade at lower prices

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Some light cattle trade was reported in Kansas, Nebraska and a handful of sales in Texas from 159.00 to 160.00. These live sales are generally steady to 1.00 lower than last week’s business. Private sources reported a few bids in Nebraska from 250.00 to 252.00, but no sales were reported. Asking prices are around 161.00… Read more »

Closing Grain and Livestock Futures: January 29, 2015

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Mar. corn closed at $3.71 and 1/2, down 1 and 3/4 cents Mar. soybeans closed at $9.68 and 1/4, down 2 cents Mar. soybean meal closed at $337.90, up 50 cents Mar. soybean oil closed at 29.54, down 80 points Mar. wheat closed at $5.07 and 3/4, up 2 and 1/2 cents Feb. live cattle closed at $153.52, down 42 cents Feb. lean hogs closed at $68.55, down $2.97 Mar…. Read more »

Midday cash livestock market

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There is still not a lot of movement in cattle country on Thursday, with just a few bids noted in Kansas and Texas at 156.00. Packer inquiry is expected to improve as the day progresses, although significant trade volume could be delayed until later today or tomorrow. Asking prices are around 162.00 in the South,… Read more »

Dollar sends grains, oilseeds lower

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  Soybeans were lower on fund and technical selling, along with spillover from the outside markets. The trade’s watching weather in South America, which looks good overall at this time, with more rain headed for dry areas of Brazil. According to Allendale, Brazil’s new crop is 7.7% harvested, compared to 5.8% a year ago. Beans… Read more »

Hog futures end with limit gains

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Cattle country remained at a standstill on Wednesday afternoon with significant trade volume postponed until Thursday or Friday. A few bids were reported by private sources in Nebraska at 249.00. Some asking prices are around 162.00 in the South and 260.00 plus in the North. The kill totaled 112,000 head, 2,000 more than last week,… Read more »

Closing Grain and Livestock Futures: January 28, 2015

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Mar. corn closed at $3.73 and 1/4, down 8 cents Mar. soybeans closed at $9.70 and 1/4, down 3 and 1/2 cents Mar. soybean meal closed at $337.40, up 80 cents Mar. soybean oil closed at 30.34, down 83 points Mar. wheat closed at $5.05 and 1/4, down 13 and 3/4 cents Feb. live cattle closed at $153.95, up $1.12 Feb. lean hogs closed at $71.52, up $2.10 Mar. crude oil closed… Read more »

Midday cash livestock market

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It is pretty much the same old story in cattle country on Wednesday with bids and asking prices still not well defined. A few showlists have been priced around 162.00 in the South and 260.00 plus in the North. It is always possible to see some mid-week trade, but significant business will probably wait until… Read more »