Market Closes - August 27, 2013
Posted on Aug 27, 2013Cattle futures closed mixed with Live Cattle giving back Monday’s gains. There’s little news to trade Live Cattle futures on. Labor Day weekend beef demand should give the market some direction in September. Feeder Cattle futures benefitted from the drop in CBOT futures.
Lean Hog futures are higher for the third straight day after a series of lower prices last week. The pork market has stabilized. While seasonal factors are bearish cash markets, the October LH futures contract is at a sharp discount to the cash market.
Financial and outside markets were heavily impacted by indications the United States will act militarily against Syria. Sharply higher energy prices weighed on equity markets. Treasury yields dropped sharply as money seeks a safe place. These sharp moves in markets may put off any decision by the Federal Reserve to begin “tapering” its bond purchases.
Corn Sep -16 500; Dec -14 486 (485-504) Bean Sep -14 1414; Nov -19 1370 (1368-1409) Meal Sep -3 456 (454-471); Dec -6 430 (428-446) Oil -38 4406
Wheat Sep -4 651; Dec -3 664; JLY -3 677 KC -1 707; MGE unch 729
Oats Sep +10 364; Dec +5 350 Rice Sep +19 1643; NOV -15 1573
LC Aug -45 12295; Oct -42 12672; Feb -37 13120 FC Aug +32 15472; Oct +110 15695; Jan +120 15682 LH Oct +55 8657; Dec +47 8355; Feb +27 8547 Milk Aug +1 1790; Sep +8 1767
US$ -.3%
Dow -170 14776 SP -26 1630 NAS -79 3579 Tran -168 6312 VIX +1.78 16.77 +12%
WTI +307 10899 Brent +398 11471 Gas +9 304 NG +3 354.5 HO +9 317 Eth -3.5 247
Gold +22 1415 Slvr +48 2450
2-yr -.02 0.36% 5-yr -.07 1.52% 10yr -.08 2.71% 30yr -.08 3.69%
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Tagged Post Topics Include: Economics, Market updates
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