Corn Dec -2 362 (361-66); Mar -2 373; Dec19 -2 396

Bean Jan -18 874 (871-92); Mar -18 887; Nov -15 922

  Meal -5 305

  Oil -5 2732

Wheat Dec -8 498; Jly -8 522 (520-31)

  KC -8 474; MGE unch 571

Oats +6 304

Rice -12 1077

 

LC Dec +80 11615; Feb +27 12000; Jun +45 11397

FC Jan +75 14727; Apr +32 14465; Aug +55 14892

LH Dec +95 6102; Feb +227 6902; Jun +102 8505

Milk Nov -4 1454; Dec -17 1467

 

CBOT futures closed lower with soybean futures leading the way down. Markets were pressured by a negative outlook for US/China trade relations following rhetoric between VP Pence and a Chinese leader at a weekend summit. The G-20 meeting comes at month’s end. Favorable South American weather also weighed. Soybean contracts fell back to the middle of the 2-month trading range; this comes one day after posting a one-month closing high. The speculative crowd has a sizable short soybean position and added to it today.

As of November, 18: U.S. Corn is 90% harvested, compared to 93% for 5-yr average.  U.S. Soybean is 91% harvested, compared to 96% for 5-yr average.

Kentucky’s soybean harvest is only 75% complete, compared to 84% for 5-yr average.

Cattle futures closed higher, supported by firmer boxed beef and the strong 2-day rally in Lean Hog futures. Choice beef edged up .48 to 213.39 and Select gained a dollar to 198.57/cwt. Last Friday’s cash cattle traded around $114/cwt.

Lean Hog futures closed higher on follow-through buying after the $3.00 limit-UP move on Friday. LH futures closed above key chart resistance levels which go back to May. Stronger pork values and a near-record week of pork export shipments were supportive. FOB Plant Pork gained .63 to 68.81. Additional cases of AFS in China were supportive, overcoming the negative US/China news from the weekend (which hit the soy complex).

 

US$ -.2%  96.2

Dow -396 25017

SP -46 2691

NAS -219 7028

Tran -49 10534

  VIX +1.96 20.10

 

WTI +70 5738

Brent +17 6693

Gas unch 158

NG +31 458

HO +2 209

Eth -1 125

Gold +2 1225

Slvr +2 1440

2-yr -.021 2.791%

5-yr -.021 2.871%

10yr -.011 3.063%

30yr -.005 3.321%
 

Kentucky Weekly Livestock Summary for the week of Nov 12-17, 2018
     Receipts: 14,240       Last Week 23,202       Last Year 24,095           
 Compared to last week, steer and heifer sales were mixed. Beginning and ending the week steady to 4.00 lower sandwiching a couple of days selling up to 5.00 higher.  The week was shortened by the veterans Day Holiday.  Demand was light to moderate for an average through good quality offering. Slaughter cows and slaughter bulls sold unevenly steady with prices ranging from 3.00 lower to 3.00 higher.

  In the feeder supply, steers made up approximately 41 percent and heifers approximately 43 percent. Feeder cattle over 600 lbs totaled approximately 49 percent.

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