CBOT futures closed mixed as traders begin positioning for the 3-day Labor Day weekend. Corn and wheat futures edged higher throughout the trading day. More traders are mentioning that excessive rainfall may be harmful for soybeans in the central Corn Belt and for the spring wheat crop.

Cattle futures were mostly lower as boxed beef continues to weaken. Choice down 1.07 at 247.41; Select down 0.88 at 237.60/cwt. Futures trading ends tomorrow for August Feeder Cattle and on Friday for August Live Cattle.

Lean Hog futures closed moderately higher on trader optimism for the cash hog and pork markets. A steady pork market at midday helped futures but LH futures traded much lower in the afternoon when the pork market dropped sharply. FOB Plant Pork cutout fell 2.98 to 100.18 on severe losses in the belly value – down 13.94 to 97.12.

Corn Sep unch 356; Dec unch 365 (362-65); Dec’15 unch 407 Bean Sep +10 1086; Nov -4 1024 (1022-35); Nov’15 -4 1036 Meal Sep +28 416; Dec +1 344 Oil -36 3267 Wheat Sep +6 547; Dec +6 562; Jly +4 599 KC +7 628; MGE -2 610 Oats unch 360 Rice -6 1279

LC Aug -35 15320; Oct -42 14782; Apr -65 15167 FC Aug +62 21815; Sep +27 21447; Mar -82 20607 LH Oct +82 9592; Dec +80 9050; Apr +85 9115 Milk Sep -4 2403; Oct -17 2302

US$ -.3%

Dow +15 17122 SP unch 2000 NAS -1 4570 Tran +7 8428 VIX +.15 11.78

WTI -7 9379 Brent +15 10265 Gas -2 274 NG +6 397 HO +2 286 Eth +3 216 Gold -1 1283 Slvr +4 1942

2-yr -.012 0.516% 5-yr -.016 1.640% 10yr -.032 2.361% 30yr -.048 3.104%

Blue Grass Stockyards Cattle Report for 08/19/2014 Receipts: 945 Last Tuesday: 739 Year Ago: 1196 ***Special cow sale Wed. night at 6:30 p.m. Compared to Monday steer calves under 600 lbs sold 3.00 to 4.00 lower in a light test with moderate demand; 600-700 lbs sold steady to 3.00 higher with more weaned 600-700 lbs calves today than yesterday. Heifer calves under 600 lbs sold steady to weak; over 600 lbs sold steady to firm with moderate demand. Quality was average through good. Yearling steers and heifers limited comparison with yesterday however compared to last week sold 8.00 to 10.00 lower with light demand. Slaughter cows sold 2.00 higher with very good demand. Slaughter bulls sold steady with good demand. Good quality weaned 600-700 lb calves in good demand; market softer for all other calves. Total supply included 07% slaughter cows, 01% slaughter bulls, less than 01% replacements and 91% feeders. Feeder supply 50% steers, 12% bulls, 32% heifers with 65% of feeders weighing over 600 lbs.

 

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