Another good week in the dairy markets

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A quiet close to the week in the dairy markets on the Chicago Mercantile Exchange on Friday.  Cash cheese and butter unchanged, nonfat dry milk increased a quarter-cent.  Class III futures were narrowly mixed. For the week, cash cheese barrels slipped a half-cent, blocks gained 3.5 cents, butter increased 2.25 cents and nonfat dry milk… Read more »

South American harvest pressures soybeans

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  Soybeans were lower on fund and speculative selling. Harvest weather for South America looks good, with another higher production guess for Argentina out Friday. Argentina’s Ag Ministry now sees 2015 production at 59 million tons, 1 million more than the previous projection. Also, a renewed truck strike in Brazil hasn’t had much of an… Read more »

Cattle continue to trade

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A light to moderate cattle trade was evident in parts of the North on Friday afternoon with dressed sales in a fairly wide range from 253.00 to 260.00. The top end of the spending would be 2.00 to 7.00 higher than Wednesday and generally steady with last week. The weekly kill was estimated 544,000 head,… Read more »

Closing Grain and Livestock Futures: April 24, 2015

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May corn closed at $3.64 and 1/2, down 6 and 1/4 cents May soybeans closed at $9.69 and 3/4, down 8 and 1/2 cents May soybean meal closed at $314.60, down $2.00 May soybean oil closed at 31.67, down 35 points May wheat closed at $4.86, down 11 and 3/4 cents Apr. live cattle closed at $161.17, up $1.87 Jun. lean hogs closed at $79.45, up $1.12 Jun. crude oil closed… Read more »

Midday cash livestock markets

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The cattle trade is slow to get off the ground on Friday, following light trade on Wednesday and Thursday. The best early guesses are that about 6,000 head moved in Nebraska yesterday at 252.00 to 253.00 dressed, and live sales at 160.00 with a few late deals at 160.50. Only a light trade was reported… Read more »

Class III futures keep pushing higher

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No changes in the cash prices on the Chicago Mercantile Exchange on Thursday but solid gains in the Class III futures.  The May contract increased 27 cents, June added 52 cents, July increased 40 cents. Eric Meyer with HighGround Dairy says they are “befuddled” by what is happening in the dairy markets.  Cash cheese has… Read more »

Commercials support soybeans, wheat

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  Soybeans were higher on fund and commercial buying. Weekly export numbers remain on target to meet USDA projections. There are some near term harvest delays in South America, but longer term forecasts look conducive for activity. Soybean meal and oil were modestly higher on commercial demand and spillover from beans. Statistics Canada estimates soybean… Read more »

A few cattle trade on Thursday

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USDA Mandatory reported cattle trade in Western Nebraska and Colorado. The trade was light on light to moderate demand with live sales at 160.00. In Kansas a few sales were reported steady with Wednesday at 158.00. Trade was mostly inactive in all other regions. The kill was estimated at 105,000 head 3,000 more than last… Read more »

Closing Grain and Livestock Futures: April 23, 2015

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May corn closed at $3.70 and 3/4, down 1 and 3/4 cents May soybeans closed at $9.78 and 1/4, up 7 and 3/4 cents May soybean meal closed at $316.60, up $1.10 May soybean oil closed at 32.02, up 46 points May wheat closed at $4.97 and 3/4, down 1 cent Apr. live cattle closed at $159.30, up $3.00 Jun. lean hogs closed at $78.32, up $2.37 Jun. crude… Read more »

Midday cash livestock prices

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For the first time in over a month cattle traded on Wednesday. The country is slow to start today following that light trade in most areas yesterday. Live sales in the South trended generally $3.00 lower than last week from 157.00 to 158.00. Northern business in Nebraska and Iowa was $3.00 to 4.00 lower on… Read more »