CBOT futures closed moderately lower as corn/bean harvest proceeds quickly. There’s a lack of any news to get buyers excited and the price charts encourage the sellers. The Plains are expecting rains this week which should help wheat growth. Australia did lower its wheat production estimate due to El Nino-related dryness. China reported its GDP growth rate at 6.9% which is the slowest in many years. This helped push energy futures lower which weighed on the CBOT.

As of October 18, 2015 Corn Harvested 59% this week vs 30% year ago and 54% for 2010-14 average.

Soybeans Harvested 77% this week vs 51% year ago and 68% for 2010-14 average.

Winter Wheat Planted 76% this week vs 75% year ago and 77% for 2010-14 average.

Pasture Conditions 40% good/excellent vs 25% poor/v.poor

Cattle futures closed sharply higher in follow-through buying from Friday’s huge jump in prices paid for fed cattle – up $9.00 for the week. Boxed beef values also firmed today. Choice beef jumped 1.95 to 213.64 and Select gained 1.37 to 207.73.

While the cattle market is getting its footing again, the hog market seems to be slipping with weaker cash hog and pork prices. FOB Plant Pork dropped .41 to 88.90.

Corn Dec -4 373; Jly -3 396; Dec16 -3 401 Bean Nov -7 891; Jly -7 908; Nov16 -4 898 Meal -1 311 Oil -46 2814 Wheat Dec -6 486; Jly -7 501 KC -11 472; MGE -8 504 Oats -4 227 Rice unch 1210

LC Oct +232 13827; Dec +222 14165; Apr +147 14200 FC Oct +120 19500; Jan +160 18397; Apr +150 18127 LH Dec +40 6597; Feb -47 6797; Apr -50 7145 Milk Nov -19 1547; Dec -18 1550

 

US$ +.2% Dow +15 17231 SP +1 2034 NAS +19 4905 Tran +28 8107 VIX -.07 14.98

WTI -115 4657 Brent -154 4892 Gas -6 127 NG +3 246 HO -4 146 Eth unch 152 Gold -14 1169 Slvr -28 1583

2-yr -.012 0.597% 5-yr -.003 1.342% 10yr unch 2.023% 30yr +.016 2.880%

Kentucky Weekly Livestock Summary for the week of Oct 12-17 2015. Receipts This Week Last Week Last Year 17,644 16,081 23,078 Compared to last week, Steer calves sold mostly 5.00 to 8.00 higher with instances 10.00-12.00 higher. Heifer calves were mostly 4.00 to 7.00 higher with instances 8.00 to 10.00 higher. Demand was good to very good for an average to good quality offering. Yearlings sold 3.00 to 5.00 higher with limited comparisons. Slaughter cows and bulls began 2.00 to 4.00 lower, but, gained during the week finishing unevenly steady.