Market Closes – April 14, 2016

CBOT trade was more subdued today with a mixed close. Soybean futures moved higher Wednesday evening on follow-through buying but soon headed lower until the morning opening. The higher levels reached this week have encouraged farmer selling and with soybean futures in overbought status, traders were eager to book some profits. Corn was supported by a strong weekly export sales report and continued short-covering by the funds.

Cattle futures closed lower with Live lower and Feeders higher. Live Cattle was weighed by a lack of cash trade (bids and offers are far apart) and no indication prices will improve this week. The rising beef market will help packer margins which are reportedly in the “red”. Boxed beef rose strongly one more day. Choice ended up 2.22 at 224.43; Select up 2.30 at 214.83.

Lean Hog futures closed lower for the fourth straight day. With the nearby April LH contract expiring, the large premium that May/June/July futures have to the CME Hog Index is encouraging selling. The pork market was also weak at midday. FOB Plant Pork closed up .04 to 78.16, which is much better than the midday quote of 77.17.

Corn May unch 374; Jly +1 378; Dec +1 385
Bean May -8 948 (hi 959); Jly -8 956; Nov -7 959 (hi 970)
Meal -3 290
Oil -27 3369
Wheat May -2 460; Jly -1 467
KC Jly +1 466; MGE +1 527
Oats +1 193
Rice +33 1022

LC Apr -42 13175; Aug -30 11740; Oct -15 11720
FC Apr +12 15492; Aug +17 15097; Oct +40 14850
LH May -75 7342; Jun -97 7712; Oct -95 6722
Milk Apr -6 1371; May -8 1362

 

US$ +.1%
Dow +18 17926
SP steady 2083
NAS -2 4946
Tran +20 7981
VIX -.12 13.72 -.9%

WTI -31 4145
Brent -33 4385
Gas -2 151
NG -8 196
HO -1 126
Eth -1 155
Gold -19 1227
Slvr -14 1618

2-yr +.020 0.770%
5-yr +.041 1.252%
10yr +.030 1.792%
30yr +.026 2.603%

Lexington, KY – Blue Grass Stockyards
Cattle Weekly Summary Report for the week ending 04/12/16

Receipts: 2452 Last Week: 2014 Year Ago: 2656
**Total receipts include 1,375 head sold in graded Holstein sale**
Compared to last week steers and heifers under 600 lbs sold 2.00 to 4.00 lower with light to moderate demand; over 600 lbs sold steady with moderate demand. Body condition or degree of fatness more than calf quality continues to dictate calf prices. Slaughter cows and slaughter bulls sold 1.00 lower with moderate demand.

Kentucky Farm Bureau Minute video  – Click Here 

KENTUCKY CASH GRAIN PRICES Click Here

 KENTUCKY LIVESTOCK AUCTIONS —  Click Here

 

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