Market Closes – April 4, 2016

Soybean futures closed lower on pressure from disappointing export shipments last week and fund selling (they carry a large long position). There was little news to drive corn and wheat futures. Traders will closely watch weather outlooks for potential impacts on planting conditions along with the new-crop bean/corn price ratio to see if the market tries to buy more bean acres.

The USDA Crop Progress Report has been delayed 24 hours to Tuesday @ 4 pm ET.

Cattle futures closed slightly higher but closer to the day’s lows. Futures opened strongly but a weak boxed beef market weighed on the market. Choice ended down 1.60 at 217.51; Select down 0.70 at 206.23.

Lean Hogs closed lower through the summer contracts. LH traded up early this morning but faded on selling encouraged by last week’s strong losses. FOB Plant Pork closed up .28 at 76.53, weaker than the midday gain of .89.

Corn May unch 354; Jly unch 358; Dec -1 369
Bean May -5 913; JLy -5 921; Nov -4 928
Meal -4 268
Oil +24 3469
Wheat May -1 475; Jly -2 481
KC -2 475; MGE unch 529
Oats +2 187
Rice +4 980

LC Apr +22 13320; Jun +10 12367; Oct +10 11957
FC Apr +47 15667; Aug +10 15510; Oct +20 15212
LH Apr -12 6767; Jun -65 7872; Oct +17 6777
Milk Apr -6 1375; May -18 1380

 

US$ steady
Dow -56 17737
SP -7 2066
NAS -23 4892
Tran -71 7817
VIX +1.02 14.12 +7.8%

WTI -133 3546
Brent -116 3751
Gas -3 138
NG +5 200
HO -5 108
Eth +1 148
Gold -6 1216
Slvr -14 1490

2-yr -.028 0.736%
5-yr -.036 1.206%
10yr -.029 1.762%
30yr -.024 2.596%

Kentucky Weekly Livestock Summary for the week of Mar 28-Apr 2, 2016.
Receipts
This Week Last Week Last Year
20,289 22,644 31,589
Compared to last week, the market was mixed again with steers mostly steady to 4.00 lower with moderate to good demand and heifers mostly 2.00 to 5.00 lower with moderate demand. Lower prices are generally in response to lower CME futures, however, buyers paid a premium for good quality thin fleshed cattle with instances throughout the week 2.00 to 5.00 higher. Slaughter cows and slaughter bulls sold mostly steady to 3.00 higher with moderate to good demand.

Kentucky Farm Bureau Minute video  – Click Here 

KENTUCKY CASH GRAIN PRICES Click Here 

KENTUCKY LIVESTOCK AUCTIONS —  Click Here

 

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