AlH.anc*ttef Farming, Saturday, January 1, mqq
GRAIN, CATTLE, HOG,
& MILK BFP
FUTURES MARKETS
Markets Courtesy Of Chicago Board and Mercantile Exchange
Corn
Daily Prices As ofTuesday, 28 December
Symbol:C
12/28/99
12/28/99
12/28/99
12/28/99
12/28/99
12/28/99
12/28/99
12/28/99
12/28/99
12/28/99
Total
12/27/99
Soybeans
Daily Prices As of
Symbol:S
12/28/99
12/28/99
12/28/99
12/28/99
12/28/99
12/28/99
12/28/99
12/28/99
Total
12/27/99
Daily Prices As of Tuesday, 28 December
Symbol:o
Open High Low
12/28/99 MAR 00 1100 1100 1086
12/28/99 MAY 00 1150 1150 1140
12/28/99 JUL 00 1130 1130 1122
12/28/99 SEP 00 1164 1164 1164
12/28/99 DEC 00 1240 1240 1240
Total
12/27/99
Daily Prices As of
Symbol:SM
12/28/99 JAN
12/28/99 MAR
12/28/99 MAY
12/28/99 JUL
12/28/99 AUG
12/28/99 SEP
12/28/99 OCT
12/28/99 DEC
12/28/99 JAN
Total
12/27/99
Weekly Dairy
Ken Bailey
Penn State University
December 26,1999
Cheese Stocks Steady
American cheese stocks
for November up 17
percent
Cheese prices will likely
remain weak
Butter stocks down 5.8
percent
I'm supposed to be on
vacation, but I can’t stay away
from the dairy markets. Here's a
brief update.
USDA icleased a Cold Storage
report last week and the numbers
are interesting Butter stocks at
(Closing bids: Wednesday, December 29, 1999
Volume Open_lnt
37570 385302
- Tuesday, 28 December
High
4602
4684
4754
4824
4824
4844
4894
5120
Open
4590
4672
4742
4810
4814
4844
4880
5120
Volume Open_lnt
47626 147082
Volume Open_lnt
402 12648
- Tuesday, 28 December
Open
1455
1460
1460
1473
1470
1475
1475
1503
Volume Qpen_lnt
16160 99134
Market Outlook
the end of November were 5.8
percent below a year ago. With
butter production about even with
year ago levels, that would
indicate that butter demand has
been fairly good so far. Look for
December butter stocks to be
even lower, assuming Holiday
demand has been good. That
should result in a slight rise in
butter prices for January.
Cheese stocks were
disappointing. Stocks for
American cheese fell a little over
3 million pounds between
October and November.
November stocks were up 17.1
percent over a year ago.
Production for cheese so far this
Low
2030
2096
2164
2234
2296
2322
2350
2406
2492
2540
Chgo
+ 6
+ 4
+2
unch
unch
unch
unch
unch
+4
Low
4564
4650
4724
4792
4814
4814
4880
5120
Chge
-2
Last
4582
4666
4740
4810
4814
4814
4880
5120
-2
unch
+4
-4
unch
Chge
Last
1090
1142
1122
1164
1240
-2
unch
unch
unch
-4
year has been up around 6
percent. What does this mean?
The strong Holiday demand for
cheese consumption I had been
expecting has not yet
materialized. With cheese stocks
so far ahead of year ago levels, it
appears that cheese prices will
remain in the doldrums through
January.
For more details and graphs,
check out my website:
http://www.aers.psu.edu/dairyoutl
ook/
Lean Hogs
Daily Prices As of •- Tuesday, 28 December
Date
12/28/99
12/28/99
12/28/99
12/28/99
12/28/99
12/28/99
12/28/99
12/28/99
12/28/99
Composite Volume
12/27/99
Live Cattle
Daily Prices As ofTuesday, 28 December
Date
12/28/99
12/28/99
12/28/99
12/28/99
12/28/99
12/28/99
12/28/99
Composite Volume Open_!nt
12/27/99 8241 113342
Lumber
Daily Prices As ofTuesday, 28 December
Date
12/28/99
12/28/99
12/28/99
12/28/99
12/28/99
12/28/99
12/28/99
Composite Volume Open_lnt
12/27/99 885 2832
BFP Milk
Daily Prices As ofTuesday, 28 December
Date
12/28/99
12/28/99
12/28/99
12/28/99
12/28/99
12/28/99
12/28/99
12/28/99
12/28/99
12/28/99
12/28/99
12/28/99
Composite Volume
12/27/99 48
Wf**t
Open High
5550 5550
5695 5700
6445 6445
6320 6320
6125 6130
5662 5675
5490 5565
5745 5795
0 5617
Feb 00
Apr 00
Jun 00
JulOO
Aug 00
Oct 00
Dec 00
Feb 01
Apr 01
Open_lnt
44280
2209
Open High
6960
6950
7150
6930
6955
7160
7270
6952
6915
7120
6907
6937
7135
7257
Dec 99
Feb 00
Apr 00
Jun 00
Aug 00
Oct 00
Dec 00
Open High
34440
34100
33120
34350
34100
33070
Jan 00
Mar 00
May 00
Jul 00
Sep 00
Nov 00
Jan 01
32870
0 3263©
32050 32050
32010 32020
High
Open
Dec 99
Jan 00
Feb 00
Mar 00
Apr 00
May 00
Jun 00
JulOO
Aug 00
Sep 00
Oct 00
Nov 00
Open_lnt
5289
Table 1. Dairy Stocks in Cold Storage
Dairy Products
Butter, total
(Government owned)
Natural Cheese
American, total
(Government owned)
Swiss
Other natural cheese
Total natural cheese
Source: USDA, Cold Storage Report.
Ken Bailey
Updated 12/26/99
Prev.
Ch!sc Volume
1067
338
471
178
54
58
30
II
Last
Low
-122
-88
-93
-91
-78
-23
-25
-10
+7
Last Chge
Low
6942 -20
6937 unch
7145 +lB
6920 +8
6952 +l2
7150 +23
7270 +l3
6940
6907
7105
6905
6935
7120
7250
Last Chge
Low
34150 unch
33840 +lO
32860 -80
32870 -90
32630 *l2O
31700 -350
32020 -30
33810
33640
32860
32870
*32620
31700
32010
Last Chge
Low
971 +3
1035 -5
1051 unch
1060 -10
1105 -5
1120 -7
1167 -8
1251 -2
1280 -1
1296 -4
1292 +2
1276 -3
Nov 30 Oct 31 Nov 30 % chng
1998 1999 1999 year ago
1000 Pounds
28,698 64,449 27,032 -5.8%
8 391 319 3887.5%
388,529
458,569
26
11,911
9,372
153,072
621,013
94,029
494,469
Prev.
Open_lnt
24725
9367
6104
1956
1154
■741
218
14
Prev.
Open_lnt
4840
52471
29472
13346
7255
3141
. 2817
Prev.
Volume
1692
4715
907
606
252
39
30
Prev.
Open_lnt
1401
914
375
95
x 45
Prev.
Volume
524
288
58
* r i 3
Prev.
Openjnt
991
774
619
589
448
394
324
353
281
263
177
76
Prev.
Volume
455,014
17.1%
80.8%
-23.2%
42.3%
20.9%
9,145
133,819
597,978