Market Closes - December 17, 2015
Posted on Dec 17, 2015Cattle futures, especially Feeder Cattle, closed lower; however, late-day trading saw some improvement in prices. New contract lows were traded in both LC and FC. Choice fell 1.14 to 195.76 and Select gained .63 to 185.54. USDA’s Cattle on Feed Report comes out tomorrow afternoon.
Lean hog futures collapsed today, making for 4 straight days of losses. The uptrend I have been discussing was destroyed today as February LH futures traded within a dollar/cwt of the contract low set mid-November. The next two weeks of shortened plant hours won’t be helpful. FOB Plant Pork was down only .02 at 73.24; gains in loins and picnics offset losses in ham and belly values.
Corn Mar +4 374 (362-75); Jly +5 386; Dec +5 396 Bean Jan +14 877 (854-78); Jly +15 890; Nov +15 894 Meal Jan +6 276 Oil -30 3007 Wheat Mar unch 484; Jly +2 497 (485-500) KC unch 480; MGE +2 508 Oats +5 228 Rice +15 1111
LC Dec -282 11715; Apr -187 12417; Aug -117 11380 FC Jan -345 14425; Apr -270 14417; Aug -162 14720 LH Feb -212 5577; Apr -220 6152; Jun -135 7495 Milk Dec -3 1450; Jan +5 1362
US$ +.8% 99.21 (98.52-99.29) Dow -253 17496 SP -31 2042 NAS -69 5003 Tran -154 7533 VIX +1.08 18.94 +6%
WTI -69 3483 Brent -43 3696 Gas +4 127 NG -5 174 (has fallen 140 since August and 200 from a year ago) HO unch 111 Eth +1 140 Gold -26 1052 Slvr -52 1369
2-yr -.017 0.988% 5-yr -.036 1.701% 10yr -.066 2.223% 30yr -.076 2.927%
Lexington, KY - Blue Grass Stockyards Cattle Weekly Summary Report for the week ending 12/16/15
Receipts: 2,867 Last Week: 4,794 Year Ago: 3,376 **Total Receipts include 511 head sold in special cow sale Wed. night.
***Stockyards will be closed for Holidays and will resume Jan. 4, 2015*** Compared to last week middleweight steer calves sold steady to 2.00 higher with moderate demand; yearling steers sold 5.00 to 10.00 lower with very light demand. Middleweight heifer calves sold steady to 5.00 higher with moderate to good demand on good quality offerings; yearling heifers sold 10.00 lower in a limited comparison with very light demand. Slaughter cows sold 5.00 to 6.00 lower with light demand. Slaughter bulls sold 5.00 lower with light demand.
Tagged Post Topics Include: Economics, Market updates
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