Lancaster farming. (Lancaster, Pa., etc.) 1955-current, June 03, 2000, Image 16
Al6-Lancaster Farming, Saturday, June 3, 2000 GRAIN, CATTLE, HOG, & MILK BFP FUTURES MARKETS Markets Courtesy of Chicago Board and Mercantile Exchange Closing Bids: Thursday, June 1,2000 Com Daily Prices As of Symbol:C 05/31/00 05/31/00 05/31/00 05/31/00 05/31/00 05/31/00 05/31/00 05/31/00 05/31/00 05/31/00 05/31/00 Total 05/30/00 Soybeans Daily Prices As of Symbol:S 05/31/00 05/31/00 05/31/00 05/31/00 05/31/00 05/31/00 05/31/00 05/31/00 05/31/00 Total 05/30/00 Oats Daily Prices As of Symbol:o Open High Low 05/31/00 JUL 00 1136 1140 1122 05/31/00 SEP 00 1196 1196 1182 05/31/00 DEC 00 1264 1264 1254 05/31/00 MAR 01 1344 1344 1336 05/31/00 MAY 01 1384 1384 Total 05/30/00 Weekly Dairy Market Outlook By Ken Bailey Penn State University May 26, 2000 Butter Prices Continue to Strengthen -Grade AA butter reaches $1.37/lb -Cheese market n tion up 4.4% 1 1 consunu une advance prices announced The butter market continues to amaze analysts by showing significant price strength The cheese market, however, continues to languish below support levels The strength in the butter market has new significance under federal order reform since it not only affects the Class IV price, but also helps boost the Class I price as well Under the old system, the cheese price determined three out of four class prices So, this is good news for dairy farmers that ship milk to federal orders that have Class I and IV sales. Prices for Grade AA butter at the Chicago Mercantile Exchange rose from $1 2650 per pound on Monday, May 22 to $1 27 on Wednesday, May 24 to $1 37 on Friday, May 26 Cream is priced as a multiple to butter prices. Higher butter prices have made cream more expensive. Ice cream - Wednesday, 31 May Volume Open_lnt 101017 451502 - Wednesday, 31 May Volume Open_lnt 71763 179235 Wednesday, 31 May Volume Open_lnt 2591 16055 makers have been gearing up production for summer demand and have been facing these higher cream prices At the same time, this is the time of year that butter processors buy cream to make butter So cream and butter are m hot demand Commercial stocks of butter m public warehouses were 106 million in April, down 15 9 percent from year ago levels imams wea The cheese market continues to remain weak Barrel cheese prices at the Chicago Mercantile Exchange remained flat at $1 0650 per pound, and 40-pound block cheese fell from $1 09 per pound to $1 0875 by weeks end During the week of May 18-26, the Commodity Credit Corporation (CCC) purchased 459,381 pounds of block cheese and 277,200 pounds of process cheese from Midwest sources under the dairy price support program The CCC also purchased 760,000 pounds of barrel cheese for July delivery under Invitation 627 at $0.0450 per pound over the Chicago Mercantile Exchange barrel price average USDA published first quarter supply and demand estimates for milk and dairy products this week. For the period January - (Turn to Pago A 33) Chge Low 2232 2320 2390 2412 2472 2496 2560 2590 2564 2582 2600 Chge +4 Chge unch unch + 2 unch unch Last 1130 1190 1262 1340 1384 Lean Hogs Daily Prices As of Thursday, 1 June Date 06/01/00 06/01/00 06/01/00 06/01/00 06/01/00 06/01/00 06/01/00 06/01/00 06/01/00 Composite Volume 05/31/00 13081 Live Cattle Daily Prices As of Date 06/01/00 06/01/00 06/01/00 06/01/00 06/01/00 06/01/00 06/01/00 Composite Volume 05/31/00 20246 Lumber Daily Prices As of Date 06/01/00 JulOO 29590 29960 29320 06/01/00 Sep 00 29640 29800 29470 06/01/00 Nov 00 29550 29670 29500 06/01/00 Jan 01 0 30000 30000 Composite Volume Open_lnt 05/31/00 631 3171 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 1 3017 1 2892 1 1950 1 1658 Table 2. NASS Weekly US Average Survey Prices Cheese 500 lb Barrels 1/ 40-lb blocks Butter Nonfat dry milk Dry whey Table 3. Commercial Disappearance of Milk and Dairy Products Jan.-Mar. Jan.-Mar. % chg Jan.-Dee Jan.-Dee % chg 1999 2000 year ago 1998 1999 year ago —Million Pounds— MILK Production Marketings Beg comm stocks Imports Total supply Ending comm stocks Net removals Comm disappearance SELECTED PRODUCTS Butter American cheese Other cheese Nonfat dry milk Fluid milk products Open High 6815 6837 6850 6890 6745 6780 5950 5992 5775 5795 5845 5845 5602 5610 6250 6270 6200 6230 Jun 00 JulOO Aug 00 Oct 00 Dec 00 Feb 01 Apr 01 Jun 01 JulOl Open_lnt 57630 Thursday, 1 June Open High 6780 6827 6715 6775 7002 7042 7175 7220 7320 7372 7540 7587 7315 7360 Jun 00 Aug 00 Oct 00 Dec 00 Feb 01 Api 01 Jun 01 Open_lnt 113113 Thursday, 1 June Open High Low 26-May-00 19-May-00 12-May-00 5-May-00 1 0650 1 0725 1.0995 1.1000 1.0895 1 0870 1.1070 1.0925 1 0300 1 0300 10300 1 0300 1 0300 1 0300 1 0300 1.0300 20-May-00 13-May-00 6-May-00 29-Apr-00 1.0855 1.0862 1 2045 1.0106 0.1765 42,576 42,245 6,135 40,505 40,168 5,274 1,098 46,540 8,164 952 49,332 8,644 273 40,415 76 38,300 322.5 875.9 1,148.1 162.0 NA 299.3 837 4 1,047.0 205 4 NA Chge Last Low -17 unch Chge Last Low 6812 6757 7032 7215 7367 7585 7360 6775 6715 6995 7175 7320 7540 7315 Chge Last -240 -10 *--120 +4O 29460 29590 29540 30000 1 0816 1 0927 1 1363 1 0115 0 1750 1 0709 1 0897 1 0904 1 0086 0.1759 4.0% 157,348 155,942 4,889 4,587 165,418 5,274 366 159,778 4.0% 16 3% -13.3% 5.0% 5.9% 259.2% 4.4% 6.4% 1,222.7 1,308.8 7.0% 3.5% 3,338.4 3,586.3 7 4% 8.5% 4,452.0 4,677.8 5.1% -219% 866.7 790.4 -8.8% NA 55,266.8 55,674.8 0.7% Prev. Open_lnt 15699 15917 11383 6764 5658 1650 512 43 Prev. Volume 4054 4009 3062 1249 635 40 29 Prev. Open_lnt 23502 44725 25107 8549 4412 4325 2493 Prev. Volume 7044 9659 2352 929 134 113 14 Prev. Open_fnt 2242 550 369 10 Prev. Volume 451 137 42 28-Apr-00 1 1000 1 1005 1 0300 1 0300 1 0833 22-Apr-OO 1 0646 1.0977 1.0354 1.0068 0 1776 1 0674 1 0961 1 0185 1 0099 0 1763 162,711 161,344 5,274 3.4% 3 5% 7.9% 3 4% 3 6% 16.3% -6.3% 3.2% 4,743 171.361 6,135 343 164,883