Market Closes - February 15, 2013
Posted on Feb 15, 2013March Corn finally broke its 10-session string of lower closes. March has support at $6.78, the January low. Long term support comes in around $6.50.
Cattle futures closed moderately higher, boosted by the bullish chart reversals on Thursday. Choice carcasses dn 1.58 at 181.95; Select carcasses up 0.80 at 180.40.
Lean Hog futures closed narrowly mixed as hog and pork prices remain on the defensive.
Corn Mar +4 699; Jly +3 685; Dec -1 563
Bean Mar +6.5 1424.5; JLy +5.5 1405; Nov -3 1262 Meal Mar +2 409; Oct -1 347 Oil -8 5162
Wheat Mar +10 742; Jly +7 751; Dec +5 772 KC +2.5 777; MGE +4 823
LC Feb +60 12650; Jun +62 12627; Oct +50 13055 FC Mar +70 14337; Apr +40 14662; Aug +67 15690 LH Apr -7 8425; Jun +25 9295; Oct -2 8325 Milk Feb unch 1723; Mar -6 1730
Oats -1 379 Rice +11 1583
US$ +.1% Dow +8 13982 SP -2 1520 NAS -7 3192 Tran -1 5946 VIX -.20 12.46
WTI -130 9601 Brent -13 11787 Gas +3 315 NG unch 316 HO -1 321 Eth +2.4 235.3
Gold -26 1610 Slvr -58 2977
2-yr +.004 0.278% 5-yr +.008 0.865% 10yr +.006 2.007% 30yr +.015 3.177%
Kentucky Weekly Livestock Summary for February 8 thru February 14, 2013 Receipts This Week Last Week Last Year 22,537 17,567 20,898 Supply: Slaughter Cows 10 percent; Slaughter Bulls 3 percent; Feeder cattle 85 percent. In the feeder supply, Steers made up approximately 43 percent and Heifers approximately 41 percent. Steers and Heifers over 600 lbs totaled approximately 57 percent. Replacement cattle 2 percent.
Compared to last week: Steer and heifer calves steady to 3.00 lower; instances up to 5.00 lower. Feeder Steers and Heifers 3.00-6.00 lower. Demand best on light calves, but remains moderate at best. Demand for Feeders light to moderate. Continued pressure on boxed beef prices and resistance at the retail level in the toughest month for beef demand took its toll on cattle markets this week. Lower futures and fed cattle all pressured feeder prices lower this week.
Slaughter Cows and Bulls 2.00 to 4.00 higher with instances steady to 2.00 lower later in the week.
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Tagged Post Topics Include: Economics, Market updates
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