Al6-Lancaater Fanning, Saturday, October 30, 1099
GRAIN, CATTLE, HOG,
& MILK BFP
FUTURES MARKETS
Markets Courtesy Of Chicago Board and Mercantile Exchange
Corn
Daily Prices As of
Symbol:C
10/28/99
10/28/99
10/28/99
10/28/99
10/28/99
10/28/99
10/28/99
10/28/99
10/28/99
DEC 99
MAR 00
MAY 00
JUL 00
SEP 00
NOV 00
DEC 00
JAN 01
DEC 01
Total
10/27/99
Soybeans
Daily Prices As of
Symbol:S
10/28/99
10/28/99
10/28/99
10/28/99
10/28/99
10/28/99
10/28/99
10/28/99
10/28/99
NOV 99
JAN 00
MAR 00
MAY 00
JUL 00
AUG 00
SEP 00
NOV 00
NOV 01
Total
10/27/99
Oats
Daily Prices As of
Symbol;o
10/28/99 DEC
10/28/99 MAR
10/28/99 MAY
10/28/99 JUL
10/28/99 SEP
10/28/99 DEC
Total
10/27/99
Lumber
Daily Prices As ofThursday, 28 October
Date
10/28/99
10/28/99
10/28/99
10/28/99
10/28/99
10/28/99
Nov 99 31350 32000 31300
Jan 00 32500 32580 32000
Mar 00 32830 32960 32590
May 00 32780 32910 32750
JulOO 0 33050 32820
Sep 00 32980 33000 32850
Composite Volume Open_lnt
10/27/99 1526 3711
ARDEN HILLS, Minn. -
Land O’ Lakes, Inc. (Arden Hills,
Minn.) and Mitsui and Co., Ltd.
(Tokyo, Japan) announced the
establishment of a joint venture
focusing on the development of a
world-class cheese and whey
production facility in
California’s Central Valley.
The initial structure of the
venture will be a limited liabili
ty company, with Land O’Lakes
holding 70 percent ownership
and Mitsui holding a 30 percent
share. Additional joint venture
participants, from California
and Japan, are anticipated as
(doling bidii Thunday, October 28, 1999
- Thursday, 28 October
Volume Open_lnt
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- Thursday, 28 October
Volume Open_Znt
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- Thursday, 28 October
High
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Open
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Volume Open_lnt
756 10994
Open High Low
Land O’Lakes, Mitsui Announce Dairy Foods Venture
the project moves forward.
The plant, with an initial
capacity of 3 million pounds of
milk per day, will produce moz
zarella and cheddar cheese,
dried whey, and whey fractions.
It is expected to be in operation
by early 2001, with a significant
expansion (bringing the plant’s
capacity to approximately 6 mil
lion pounds of milk daily) antici
pated by 2003. The estimated
cost of the project is $145 mil
lion.
Land O’ Lakes President and
Chief Executive Officer Jack
Gherty said the project reflects
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Lean Hogs
Daily Prices As ofThursday, 28 October
Date
10/28/99
10/28/99
10/28/99
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Composite Volume Opehjnt
10/27/99 9208 55023
Live Cattle
Daily Prices As ofThursday, 28 October
Date
10/28/99
10/28/99
10/28/99
10/28/99
10/28/99
10/28/99
10/28/^9
Composite Volume Open_lnt
10/27/99 16160 119140
BFP Milk
Daily Prices As ofThursday, 28 October
Date
10/28/99
10/28/99
10/28/99
10/28/99
10/28/99
10/28/99
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Chge
+2
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unch
Composite Volume
10/27/99
Soybean Meal
Daily Prices As ofThursday, 28 October
Symbol:SM
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Land O’ Lakes commitment to
being a leading supplier of daily
ingredients, particularly whey
products, both domestically and
globally, and will place the com
pany in an even stronger posi
tion to serve the domestic mar
ket for mozzarella and cheddar
cheese.
“This world-class facility,
located right in the heart of
North America’s most produc
tive milk shed, offers significant
potential for both Land O’ Lakes
and Mitsui,” Gherty said.
“Further, the international
nature of this new partnership
Open High
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Open_lnt
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Volume Opan_lnt
32614 116570
can open the door to new global
opportunity for both our organi
zations.”
Jack Prince, Land O’ Lakes
executive vice president and
chief operating officer for the
daily foods commodity business
said the new California plant is
only one part of Land O’ Lakes’
dairy industry investment strat
egy
“We are making major invest
ments in upgrading, expanding
and modernizing our East
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unch
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Coast, Midwest, and West Coast
production facilities,” Prince
said.
“We are committed to main
taining and growing market
access for our 6,000 dairy pro
ducer-members, and to ensuring
the highest quality products and
service for our customers. To do
that, we must maintain a strong
national procurement, process
ing, distribution, and marketing
system.”
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