Lancaster farming. (Lancaster, Pa., etc.) 1955-current, June 03, 2000, Image 16

Below is the OCR text representation for this newspapers page. It is also available as plain text as well as XML.

    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