Al6-Lancaster Farming, Saturday, February 19, 2000
GRAIN. CATTLE, HOG
&MILKBFP
FUTURES MARKETS
Markets Courtesy of Chicago Board and Mercantile Exchange
Closing Bids: Thursday, February 17,2000
Com
Daily Prices As of
Symbol:C
02/16/00
02/16/00
02/16/00
02/16/00
02/16/00
02/16/00
02/16/00
02/16/00
02/16/00
02/16/00
02/16/00
02/16/00
Total
02/15/00
Soybeans
Daily Prices As of
Symbol:S
02/16/00 MAR 00
02/16/00 MAY 00
02/16/00 JUL 00
02/16/00 AUG 00
02/16/00 SEP 00
02/16/00 NOV 00
02/16/00 JAN 01
02/16/00 MAR 01
02/16/00 JUL 01
02/16/00 NOV 01
Total
02/15/00
Oats
Daily Prices As of
Symbol:o
02/16/00 MAR 00
02/16/00 MAY 00
02/16/00 JUL 00
02/16/00 SEP 00
02/16/00 DEC 00
02/16/00 MAR 01
Total
02/15/00
Table 3. Dairy Product Production
Butter
Cheese
American Types
Cheddar
Swiss
Brick and Muenster
Cream and Neufchatel
Blue
Hispanic
Mozzerella
Other Italian Types
Total Italian Types
All Other Types
Total
Cottage Cheese, Curd
Cottage Cheese, Cream
Cottage Cheese, Lowfat
Canned Evaporated and
Condensed Whole Milk
Dry whole milk
Nonfat Dry Milk, Human
Dry Skim Milk, Animal
Dry Buttermilk
Yogurt, Plain and Flavored
Source NASS, Dauv Products
- Wednesday, 16 February
Volume Open_Znt
57871 488190
Wednesday, 16 February
High Low
5124 5032
5214 5130
5300 5214
5294 5240
5324 5254
5380 5310
5450 5384
5484 5464
5560 5550
5520 5490
Volume Open_lnt
45203 177860
Wednesday, 16 February
High Low
1092 1080
11561144
11441132
11901182
12601250
1314 1314
Open
1086
1154
1142
1190
1260
Volume Open_Xnt
2915 17511
Dec Nov
1998 1999
1000 Pounds
106,320 90,358
300,115
240,789
15,610
8,065
57,641
3,476
6,394
210,868
56,283
267,151
10,037
668,489
35,556
28,704
27,130
36,049
9,707
110,863
362
5,241
121,849
Last
1084
1150
' 1134
1182
1254
1314
Dec % Ch B
1999 Year Ago
107,790
307,254
241,016
16,262
7,612
61,631
4,270
6,939
225,186
58,493
283,679
10,588
698,235
34,763
26,767
25,833
287,278
221,802
16,042
7,916
64,679
4,500
7,086
223,354
57,875
281,229
10,824
679,554
36,148
28,596
27,143
39,820
9,902
129,297
480
4,700
142,111
47,889
10,246
100,607
433
3,988
125,727
Lean Hogs
Daily Prices As ofWednesday, 16 February
Date
02/16/00
02/16/00
02/16/00
02/16/00
02/16/00
02/16/00
02/16/00
02/16/00
02/16/00
Composite Volume Open_lnt
02/15/00 14777 52904
Live Cattle
Daily Prices As ofWednesday, 16 February
Date
02/16/00
02/16/00
02/16/00
02/16/00
02/16/00
02/16/00
02/16/00
Composite Volume Openjnt
02/15/00 15760 121429
Table 1. Chicago Mercantile Exchange Prices, Weekly Averages
Cheese:
500 lb. barrels
40-lb. blocks
Nonfat dry milk:
Extra Grade
Grade A
Butter;
Grade AA 0.9050
Source: Dairy Market News, AMS, USDA
(http://www.ams.usda.gov/dairy/mncs/weekly.htm).
Chsre
-2
-2
-4
Table 2. NASS Weekly U.S. Average Survey Prices
5-Feb-00 29-Jan-OO
-4
unch
Cheese;
500 lb. Barrels 1/
40-lb. blocks
Butter
1.0842
1.1106
0.9085
Nonfat dry milk 1.0112
Dry whey 0.1805
Source: Dairy Product Prices, NASS, USDA
(http://usda. niannlib. Cornell, edu/reports/nassr/price/dairy/1999/)
1/ Adjusted to 39% moisture.
1.4%
By Ken Bailey
Penn State University
February 11,2000
2.4%
0.1%
4.2%
-5.6%
6.9%
22.8%
8.5%
6.8%
3.9%
Butter Market Weakens
CME block butter down to
$O.BB/lb.
Block and barrel cheese
prices steady
December
production is up
USDA to release uniform
prices next week
6.2%
5.5%
4.4%
-2.2%
-6.7%
-4.8%
There is not much news to
report this week. Barrel and
block cheese prices at the
Chicago Mercantile Exchange are
frozen at $l.OB and $l.ll per
pound, respectively. Cheese
demand is reported to be "fair"
and production seasonally heavy.
Most cheese buyers are holding
off on purchases until the spring
flush. Both grades of nonfat dry
milk are also frozen at $1.03 per
pound Cheese and nonfat dry
milk prices are effectively stuck
at near-support levels.
Grade AA butter prices at the
Chicago Mercantile Exchange fell
from $0.93 per pound on
10.5%
2.0%
16.6%
32.6%
-10.3%
16.6%
Open High
Apr 00
Jun 00
Jul 00
Aug 00
Oct 00
Dec 00
Feb 01
Apr 01
Jun 01
Open
6955
7060
6865
6977
7217
7315
7405
Feb 00
Apr 00
Jun 00
Aug 00
Oct 00
Dec 00
Feb 01
Weekly Dairy Market
11-Feb-00
1.0800 1.0855
1.1100 1.1100
1.0300 1.0300
1.0300 1.0300
Monday, February 7 to $O.BB per
pound by Friday, February 11.
USDA reports that butter
stocks are "considerably heavier
than last year at this time."
Churning schedules are active at
most butter plants. Fresh butter is
apparently readily available.
USDA reported dairy product
production for December 1999.
Butter production was 107.8
million pounds, up 1.4 percent
from a year ago and 19.3 percent
above November 1999.
American-type cheese production
in December was 307.3 million
pounds, up 2.4 percent from a
year ago and up 7.0 percent from
November 1999. Total cheese
production in December was
698.2 million pounds, up 4.4
percent from a year ago and up
2.7 percent from November 1999.
On Monday, most federal milk
marketing ordefs will announce
uniform milk prices. These prices
represent the average pool value
and are computed by averaging
the class prices times the percent
utilization for each class.
The uniform prices will be
announced at zone zero. For
product
Low
5660
6600
6410
6250
5740
5550
6000
Low
High
6920
7060
6857
6965
7207
7307
7400
6965
7095
6880
6987
7230
7327
7415
4-Feb-00
0.9575
1.0989
1.1152
0.8810
1.0084
0.1840
Prev.
Volume
+133 9889
+133 3877
+l4O 364
+lOO 345
+7O 134
+6O 109
unch 11
Last
Prev.
Chge
Last
Volume
2151
7342
4006
1527
413
223
98
-5
+25
+7
unch
+2
unch
unch
6942
7087
6872
6977
7222
7325
7410
Outlook
28-Jan-00
1.0900
1.1100
1.0300
1.0300
0.9000
22-Jan-00
1.1156
1.1366
0.9054
1.0125
0.1802
example, in federal order number
1 (Northeast), the uniform price
will be announced for Boston.
A producer price differential
(PPD) will also be computed for
each order.
The PPD is approximately
equal to the uniform price less the
Class 111 price. The PPD is then
adjusted back to each plant in the
order system. This PPD
adjustment is equal to the
difference between the Class I
differential at the plant and at the
base zone. The farm price is
approximately equal to the PPD
plus the Class 111 value of milk.
For more information on
market and federal order data, see
my Penn State Dairy Outlook
website
http://www.aers.psu.edu/dairyoutl
ook/.
Prev.
Openjnt
24248
13691
4281
3500
1970
770
116
38
Prev.
Open_lnt
10886
53438
28757
15089
7061
3586
2612
21-Jan-00
14-Jan-00
1.1025
1.1150
1.1000
1.1138
1.0300
1.0300
1.0300
1.0300
0.9367
0.9163
8-Jan-00
15-Jan-00
1.1415
1.1675
0.8555
1.0112
0.1883
1.1425
1.1627
0.9045
1.0116
0.1853