Al6-Lancaster Farming, Saturday, April 8, 2000
GRAIN, CATTLE, HOG,
& MILK BFP
FUTURES MARKETS
Markets Courtesy of Chicago Board and Mercantile Exchange
Closing Bids: Thursday, April 6,2000
Corn
Daily Prices As of
Symbol:C
04/06/00
04/06/00
04/06/00
04/06/00
04/06/00
04/06/00
04/06/00
04/06/00
04/06/00
04/06/00
04/06/00
04 ' 06/00
Total
04/05/00
Soybeans
Daily Prices As ot
Symbol;S
04/06/00
04/06/00
04/06/00
04/06/00
04/06/00
04/06/00
04/06/00
04/06/00
04/06/00
04/06/00
Total
04/05/00
Oats
Daily Prices As of
Symbol:o
04/06/00 MAY 00
04/06/00 JUL 00
04/06/00 SEP 00
04/06/00 DEC 00
04/06/00 MAR 01
04/06/00 MAY 01
Total
04/05/00
Soybean Meal
Daily Prices As ot r l hursday, 6 April
Symbol:SM
Open High
00 1710 1719
00 1725 1728
00 1695 1710
00 1705 1708
00 1700 1715
00 1730 1736
01 1740 1742
01 1770 1770
01 1770 1775
01 1790 1795
04/06/00 MAY
04/06/00 JUL
04,06/00 AUG
04'06/00 SEP
04/05/00 OCT
04 ''o6/00 DEC
04/06/00 JAN
04/06/00 MAR
04/06/00 MAY
04/06/00 JUL
Total
04/05/00
Weekly Dairy Market Outlook
By Ken Bailey
Penn State University
March 31, 2000
Gross Domestic
Product Revised
Upwards
-4th Quaitei Real GDP up 7 3
pet cent
-3id Quaitei Real GDP up 5.7
pet cent
-Dairy consumption very
strong
Thursday, 6 April
Volume Open_lnt
47566 498889
- Thursday, 6 April
Open High
00 5426 5434
00 5550 5554
00 5520 5520
00 5530 5550
00 5694 5694
01 5660 5680
01 5812 5812
01 5770 5774
01 5804 5820
01 5820 5820
Volume Open_lnt
50503 199360
- Thursday, 6 April
Open
1202
1186
1214
1272
1340
High
1216
1196
1216
1274
1340
1374
Volume Open_lnt
901 18230
Volume Open_Xnt
14024 119335
-USDA announces Match 2000
class puces
The U.S. Department of
Commeice released an impoitant
economic report this=
week on the icvised estimates
ot the Gioss Domestic Product, or
GDP, for the thud and fourth
quaiters of 1999 The GDP is a
measuie of the output of goods
and services produced by labor
and propei ty located in the United
States In short, it is a measure of
the growth in the U.S. economy
It is important to the dairy
Chge
-16
-16
-14
-10
-10
-10
Last
1206
1186
1210
1274
1336
1374
Low
1202
1186
1210
1272
1336
1374
Lean Hogs
Daily Prices As oi
Date
04/06/00
04/06/00
04/06/00
04/06/00
04/06/00
04/06/00
04/06/00
04/06/00
04/06/00
Composite Volume
04/05/00 8589
Live Cattle
Daily Prices As of
Date
04/06/00 Apr 00
04/06/00 Jim 00
04/06/00 Aug 00
04/06/00 Oct 00
04/06/00 Dec 00
04/06/00 Feb 01
04/06/00 Apr 01
Composite Volume
04/05/00 14530
Lumber
Daily Prices As of
Date
04/06/00 May 00 32750 32940 32520
04/06/00 JulOO 33130 33270 32900
04/06/00 Sep 00 32790 32830 32620
04/06/00 Nov 00 32100 32200 32020
04/06/00 Jan 01 32640 32650 32520
Composite Volume Open_lnt
04/05/00 1229 3204
Table 1. Chicago Mercantile Exchange Prices, Weekly Averages
31-Mar-00 24-Mar-00 17-Mar-00 10-Mar-00
Cheese
500 lb. barrels
40-lb. blocks
Nonfat dry milk:
Extra Grade
Grade A
Butter;
Grade AA 1.1092
Source: Dairy Market News, AMS, USDA
(http://www.ams.usda.gov/dairy/mncs/weekly.htm).
Table 2. NASS Weekly U.S. Average Survey Prices
Cheese:
500 lb. Barrels 1/ 1.0848
40-lb. blocks 1.1047
Butter 0.9852
Nonfat dry milk 1.0107
Dry whey 0.1772
Somce. Dairy Pioduct Prices, NASS, USDA
(http //usda.mannhb.cornell.edu/reports/nassr/pnce/dairy/1999/).
// Adjusted to 39% moisture.
industry since demand for dairy
products is related to growth in
the GDP.
The Department of Commerce
announced an annual increase in
the leal GDP (accounting for
inflation) of 7.3 percent in the
fourth quarter of 1999, and 5.7
percent increase m the third
quaitei. The major contributors
to the increase in the real GDP in
the fourth quarter were; personal
consumption expenditures (i e.
consumer spending), government
spending inventory investment.
Thinsclay, 6 Api i
Open High
6355 6395
7215 7280
7050 7095
6845 6875
6147 6172
5830 5917
5880 5895
5690 5740
0 6315
Api 00
Jim 00
Jul 00
Aug 00
Oct 00
Dec 00
Feb 01
Apr 01
Jun 01
Open_lnt
67951
- Thuisday, 6 Apul
Open High
7220 7230
6915 6925
7005 7007
7280 7282
7405 7410
7475 7475
7685 7690
Open_lnt
124564
- Thursday, 6 Apnl
Open High Low
1.0880 1.0925 1.0915
1.1125 1.1075 1.1150
1.0300 1.0300 1.0300
1.0300 1.0300 1.0300
25-Mar-00 18-Mar-00 11-Mar-00
and exports.
This report suggests the U.S.
economy is stronger than
expected. Again, the more the
U.S. economy grows, the more
money consumers have to
purchase milk and dairy products.
Some of these purchases are in
the form of items they buy in their
local grocery stores But more
purchases are made through
institutional and food service
outlets. People who are
employed, have a good paycheck
and face little inflation are more
Chge
Last
Low
6185 +2l
7252 +2O
7067 -11
6867 -5
6165 imch
5865 +lB
5895 +l5
5702 +l7
6315 +5
Last
Cli}»e
Low
7187
6875
6%7
7240
7367
7465
7670
7185
6872
6965
7237
7365
7455
7660
-IS
-15
-n
-is
-25
Last
Chge
32560
32930
32680
32060
32520
-90
-160
-120
-SO
+2O
1.0392 0.9800
1.0891
1.1012
0.9537
1.0073
0.1779
prone to dine outside the home.
And, when consumers eat out,
they purchase a lot of dairy
products The full GDP report is
available on the web at;
http.//www bea doc gov/bea/news
rel/gdp499f htm
USDA released estimates this
week of commercial
disappearance for milk and dairy
products for the months
November 1999 - January 2000.
Commercial disappearance during
Prev.
Open_lnt
11903
31349
7861
8112
4575
3256
731
151
12
Prev,
Volume
2135
4477
I I 11
570
182
85
20
Prev.
Opcn_lnt
24837
49757
23781
14203
5681
3008
3297
Prev.
Volume
5663
5606
1993
897
227
93
51
Prev.
Volume
922
299
Opcn_lnt
2107
843
191
61
1.0970
1.1180
1.0300
1.0300
0.9817
4-Mar-00
1.0845
1.0956
0.9436
1.0108
0.1773
1.0837
1.0958
0.9264
1.0090
0.1799
(Turn to Page A 34)
Prev.