Al6-Lanca»ter Farming, Saturday. March 4, 2000
GRAIN, CATTLE, HOG,
& MILK BFP
FUTURES MARKETS
Markets Courtesy of Chicago Board and Mercantile Exchange
Closing Bids: Thursday, March 2,2000
Com
Daily Prices As ofThursday, 2 March
Symbol:C
03/02/00
03/02/00
03/02/00
03/02/00
03/02/00
03/02/00
03/02/00
03/02/00
03/02/00
03/02/00
03/02/00
03/02/00
MAR 00
MAY 00
JUL 00
SEP 00
NOV 00
DEC 00
JAN 01
MAR 01
MAY 01
JUL 01
DEC 01
DEC 02
Total
03/01/00
Soybeans
Daily Prices As of
Symbol:S
Open High
00 4964 5024
00 5056 5114
00 5152 5194
00 5144 5204
00 5160 5210
00 5246 5280
01 5290 5330
01 5340 5394
01 5450 5480
01 5410 5454
03/02/00 MAR
03/02/00 MAY
03/02/00 JUL
03/02/00 AUG
03/02/00 SEP
03/02/00 NOV
03/02/00 JAN
03/02/00 MAR
03/02/00 JUL
03/02/00 NOV
Total
03/01/00
Oats
Daily Prices As of
Symbol:o
03/02/00 MAR 00
03/02/00 MAY 00
03/02/00 JUL 00
03/02/00 SEP 00
03/02/00 DEC 00
03/02/00 MAR 01
Total
03/01/00
Weekly Dairy Market Outlook
By Ken Bailey
Penn State University
February 25,2000
-Butter Prices Strengthed
-Butter closes Friday
$0.95/lb
-January pool data available
-March Class I prices out
Butter prices showed
surprising strength this week at
the Chicago Mercantile
Exchange. Grade AA price rose
to $0.9225 per pound on
Wednesday, February 23 to $0.95
per pound by Friday, February 25.
USDA reports that stocks are now
more than double December
levels and well ahead of year ago
levels. In addition, demand for
butter is reported to be fair at best.
Higher butter prices at the
Chicago Mercantile Exchange
will result m higher NASS survey
prices. That in turn will result in
a higher advance butterfat pricing
factor and will raise the Class I
mover. Also, a higher monthly
average NASS butter price will
raise Class 11, 111 and IV prices.
Cheese prices at the Chicago
Mercantile Exchange did not
budge much this week. Block
prices fluctuated between $l.lO
and $l.ll per pound. Barrell
Volume Open_lnt
82138 453451
- Thursday, 2 March
Volume Open_lnt
54666 160318
- Thursday, 2 March
High
1120
1182
1164
1194
1262
1326
Open
1114
1172
1160
1190
1256
Volume Open_lnt
2070 17597
prices were $l.lO per pound. It is
unusual to have such a tight
margin between blocks and
barrels.
USDA announced some
interesting numbers on milk
production for 1999. There were
111,200 dairy operations in
business in 1999, 5.1 percent less
than the year before. Dairy
operations with 1-29 cows
represented 29.8 percent of all
operations, but only 2.0 percent of
all milk produced. On the other
hand, milk operations with over
2000 head represented just 0.2
percent of the number of
operations, but accounted for 9.3
percent of all milk produced.
USDA also reported milk
production for 50 states in 1999.
The top 5 states for growth in
1999 were Idaho (11.9 percent),
California (10.2 percent), Arizona
(9.4 percent), Nebraska and New
Mexico (8.5 percent each). States
with the largest declines
(excluding Hawaii) in 1999 were
Missouri (-6.2 percent). Road
Island (-6.1 percent), Tennessee (-
5.6 percent), Louisiana (-5.3
percent), and Arkansas (-5.2
percent).
(Turn to Pago A 32)
Chge
+ 14
+ 10
+ 6
+4
+4
-2
unch
Chge
+2
+4
+2
+2
+4
+ 2
Last
1120
1182
1162
1192
1262
1326
Low
1114
1172
1154
1190
1256
1326
Lean Hogs
Daily Prices As ofThursday, 2 March
Date
03/02/00
03/02/00
03/02/00
03/02/00
03/02/00
03/02/00
03/02/00
03/02/00
03/02/00
Composite Volume Opcn_lnt
03/01/00 7816 49095
Live Cattle
+4
+2
+4
Daily Prices As ofThursday, 2 March
Date
03/02/00
03/02/00
03/02/00
03/02/00
03/02/00
03/02/00
03/02/00
Composite Volume Open_lnt
03/01/00 20514 113802
Lumber
Daily Prices As ofThursday, 2 March
Date
03/02/00
03/02/00
03/02/00
03/02/00
03/02/00
03/02/00
Composite Volume Openjnt
03/01/00 1553 2860
Daily Prices As of
Symbol:SM
03/02/00 MAR
03/02/00 MAY
03/02/00 JUL
03/02/00 AUG
03/02/00 SEP
03/02/00 OCT
03/02/00 DEC
03/02/00 JAN
03/02/00 MAR
Total
03/01/00
Table 1. Chicago Mercantile Exchange Prices, Weekly Averages
25-Feb-OO 18-Feb-00 11-Feb-00
Cheese:
500 lb. barrels
40-lb. blocks
Nonfat dry milk;
Extra Grade
Grade A
Butter:
Grade AA 0.9363
Source: Dairy Market News. AMS, USDA
(http://www.ams.usda.gov/dairy/mncsAveekly.htm).
Table 2. NASS Weekly U.S. Average Survey Prices
19-Feb-OO 12-Feb-00
Cheese
500 lb. Barrels 1/ 1.0758
40-lb. blocks 1 1070
Butter 0.8764
Nonfat dry milk 1.0117
Dry whey 0.1778
Source: Dairy Product Prices, NASS. USDA
(http://usda. mannlib. Cornell, edu/reports/nassr/price/dairy/1999/)
1/ Adjusted to 39% moisture.
Open High
5850
6750
6575
6355
5760
5560
5585
Apr 00
Jun 00
JulOO
Aug 00
Oct 00
Dec 00
Feb 01
Apr 01
Jun 01
6250
Open High
7245
6940
7000
.#240
7340
7422
7575
Apr 00
Jun 00
Aug 00
Oct 00
Dec 00
Feb 01
Apr 01
Open High Low
34270
34600
34400
33690
33070
33350
34150
34550
34390
33610
32900
Mar 00
May 00
JulOO
Sep 00
Nov 00
Jan 01
- Thursday, 2 March
Open High
00 1620 1652
00 1638 1665
00 1645 1675
00 1650 1680
00 1655 1683
00 1650 1677
00 1675 1694
01 1700
01 1700 1710
Volume Qpen_lnt
29985 116059
1.1000
1.1063
1.0300 1.0300 1.0300
10300 1.0300 1.0300
Last
Low
Last Chge
Low
7252
6925
6997
7247
7357
7435
7592
7282
6957
7025
7267
7362
7440
7592
7225
6910
6982
7237
7340
7422
7575
Last Chge
33780
34190
34240
33690
33070
33350
33770
34170
34180
33550
32900
33350
1.0960
1.1080
0.8933 0.9050
1.0769
1.1005
0.9119
1.0100
0.1806
Prev.
Chge
Volume
3977
2857
545
303
114
19
+27
+55
-20
+8
-7
+35
+2B
+2O
Prev.
Volume Open_lnt
Prev.
12184
+55
5640
1572
592
163
125
215
Prev. Prev.
Volume Openjnt
617 1115
835 1216
91 , 394
8 107
2 28
0 0
-240
-130
-60
-80
+ 170
+5O
4-Feb-00
1.0800
1.1100
1.0300
1.0300
0.9575
5-Feb-OO 29-Jan-OO 22-Jan-00
1.0842
1.1106
0.9096
1.0112
0.1809
1.0989
1.1152
0.8810
1.0084
0.1840
Prev.
Openjnt
21868
14227
4644
4799
2299
1039
172
44
51409
30001
1,6479
8706
4158
2715
201
28-Jan-00
1.0855
1.1100
1.0900
1.1100
1.0300
1.0300
0.9000
1.1156
1.1366
0.9054
1.0125
0.1802