Market Update - January 28, 2013
Posted on Jan 28, 2013Cattle futures are sharply higher following Friday’s USDA Cattle on Feed report showed fewer cattle on feed than expected. Lean Hog futures are probably getting some support from the cattle pit.
Interest rates are rising again today as the Durable Goods Orders report was better than expected. The FOMC is meeting this week and traders will watch for their statement Wednesday afternoon.
Corn Mar +4 724.5; Jly +3.5 716; Dec +3.5 588
Bean Mar -2 1439; Jly -3 1415; Nov +1 1304 Meal Mar unch 417; Oct unch 364 Oil -28 5182
Wheat Mar +1 778; Jly +3 791 KC +2 832; MGE +2 867
LC Feb +242 12872; Apr +260 13335; Oct +162 13315 FC Jan +117 14587; Apr +235 15350; Aug +225 16182 LH Feb +45 8727; Apr +35 8927; Jly +50 9757 Milk Jan +2 1814; Feb -2 1700
Oats -5 358 Rice -5 1543
US$ unch
Dow unch SP steady NAS +.3% Tran +.1% VIX +5.1% 13.55
WTI +.4% Brent steady Gas +2.3% NG -3.5% HO -.1% Eth +.9%
Gold -.1% Slvr -.8%
5-yr +.038 0.890% 10yr +.037 1.993% 30yr +.031 3.166%
The January 2013 edition of the Economic and Policy Update from the Department of Agricultural Economics at UK has been released. This edition includes an update of the Farm Bill debate/extension (Aleta Botts), results from a study assessing the impacts of the KyFarmStart (beginning farmers) program (Lee Meyer and Jennifer Hunter), an examination of some recent changes in filing 2012 tax returns (Jerry Pierce), and a survey summary of Kentucky food banks (Tim Woods and Miranda Hileman). http://www.ca.uky.edu/agecon/index.php?p=209
Tagged Post Topics Include: Economics, Market updates
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