AlfrLancaster Farming, Saturday, September 2, 2000
GRAIN, CATTLE, HOG,
& MILK BFP
FUTURES MARKETS
Markets Courtesy of Chicago Board and Mercantile Exchange
Closing Bids: Thursday, Aug. 31,2000
Corn
Month Opening High > Low Closing ; Settle ,|NetChgi
OOSep 182 184 1/4 181 1/4, 183 1/2 184 1/4 183 3/4' +2 1/4
00NOV 191 1/2 193 190; 192 1/2 193 192 3/4[ +3 1/4,
OODec 194 3/4 196 3/4 193 l/2l 196 3/4 196 1/4 196 1/2; +2 3/4
OUan 199 1/2 200 1/4 198 l/4j 200 200 1 +2 1/2|
OlMar 206 1/2 208 1/4 205 1/2| 208 1/4 [ 208 I 208 +2 1/41
01May 214 3/4 215 212 3/4, 214 3/4 215 214 3/4 +1 3/4
01 Jill 1221 3/4 222;219 3/4 222 |221 3/4 1221 3/4' +ll/2
l/2 227 1/2|226 1/4 f 227 1/2 r j 227 1/2 +IT/4
Oipec 237 238 1/4 235 1/2 238 237 3/4 237 3/4 +1 1/2
02Jul ; 255 1/2 n| 255 1/2| +ll/2 1
02Dec 249 1/4 249 1/4| 252 , [ 252 T +l|
Month Openingj High ' Low | Closing -/’ Settle
Soybeans
487) 495{ 4871494 1/2 f 495 |494 3/4| +1
’ 1/2 505 1/2j 497 504 1/2 505 1/2 505 +VI/4
508 515 1/2 507 1/2 514 1/2 515 1/2 f sis| +1 1/4
519 524 l/2f
\/2\ 5311
532 539 l/2[
536[ 5401
540 545
Blnd(s^iEl
Oats
960
106 1/2
116 l/2[117 3/4
122 3/4
By Ken Bailey
Penn State University
August 25,2000
Barrel Price Rebounding
* Strong barrel sales helped
prices
* Block prices gaining too'
* School bottling pipeline
is filling
* National fluid sales down
Barrel cheese prices
strengthened this week, rising
from $1 1450 per pound on
Monday, August 21 to $1 18 per
pound by Friday, August 25.
Sales were unusually high this
week with 54 cars of barrels
trading hands Block cheese
prices also firmed a bit, rising
from $1 28 per pound on Monday
to $1 30 per pound by Friday
This is quite a change fiom the
pnoi three weeks when banel
puces tell below support puce
levels and the block/barrel price
spiead grew to ovei SO 20 pet
pound By Friday of this week,
however, the block/barrel spread
was reduced to $0 12 per pound
This is still highei than the noimal
range ot SO 03-S0 05 pei pound
The strength in the band
prices was a result ot stiong sales
In addition, moie milk is being
Jiveitcd away tiom
manufacturing uses into fluid
uses USDA reported that the
Class I pipelines are being tilled
51?|
531 1 530 1/2 [530 3/4
532 538 1/2 Q 539 538 3/4 fl|
i 540 nj [__ 540 1
524|
960
980
106 1/2
108 1/2
116 1/2
122 1/2
122 3/4
Weekly Dairy Market Outlook
as children return back to school.
That coupled with a seasonal
reduction in the milk supply may
have helped firmed cheese prices
There is a lot of talk that milk
on the east coast is very tight,
especially right now' Many
people are scrambling to find
supplies for Class I needs So
why aren't milk prices rising 7
The problem continues to be
growing U S cow numbers and
the potential for higher milk
production levels Many dairy
farmers I have spoke with report
that replacement costs are still
very high, reflecting strong
demand
LISDA just released estimates
for fluid milk sales for all federal
orders and California During the
period January through May
2000, total fluid milk sales were
216 billion pounds, down 0 6
percent relative to the same
period a year ago Sales of whole
milk, lowfat milk (1 percent), and
buttermilk were up, whereas sales
of reduced fat (2 percent) and fat
tree milk (skim) were down
Skim milk alone was down 7 7
percent relative to the same
period a year ago These numbers
were just crunched by USDA
based on new data from the
revised federal milk marketing
oiders As a result, they may be
subject to revisions
523 1/2 |523 3/4[
524 '
980 {
107 3/4 107 1/2
117
122 1/2 a
128 1/2 b
129 a
133 a
132 1
+ 1
+ 1
+ 1
+ 1 1/2
980
Unch
107 3/4
Unch
Unch
12
+2
Pork Bellies Composite Volume Openjnt
08/30/00 611 1783
Daily Prices As ofThursday, 31 August
Date
08/31/00 Feb 01
08/31/00 Mar 01
08/31/00 May 01
08/31/00 JulOl
Average Farm Feed
Costs for Handy
Reference
To help farmers across the state to
have handy reference of commodity
input costs in their feeding operations
for DHIA record sheets or to develop
livestock feed cost data, here’s last
week’s average costs of various ingred
ients as compiled from regional reports
across the state of Pennsylvania.
Remember, these are averages, so you
will need to adjust your figures up or
down according to your location and the
quality of your crop.
Corn, No.2y 2.05 bu., 3.66 cwt.
Wheat, N 0.2 —1.94 bu., 3.24 cwt.
Barley, N 0.3 —1.34 bu., 2.87 cwt.
Oats, N 0.2 1.23 bu., 3.83 cwt.
Soybeans, No. 1 4.17 bu., 6.96 cwt
Ear Corn 67.88 ton, 3.39 cwt.
Alfalfa Hay —101.75 ton, 5.09 cwt.
Mixed Hay 103.75 ton, 5.19 cwt.
Timothy Hay —105.50 ton, 5.28 cwt.
Lean Hogs
Daily Prices As of
Date
Oct 00 5260 5300 5225 5292
Dec 00 5000 5037 4977 5030
Feb 01 5102 5135 5075 5132
Apr 01 4930 4975 4930 4960
Jun 01 5570 5605 5565 5595
Jul 01 5500 5595 5500 5595
Aug 01 5340 5395 5340 5395
Oct 01 4730 4750 4727 4750
Dec 01 0 4730 4700 4730
08/31/00
08/31/00
08/31/00
08/31/00
08/31/00
08/31/00
08/31/00
08/31/00
08/31/00
Composite Volume Openjnt
08/30/00 5699 37208
Live Cattle
Daily Prices As ofThursday, 31 August
Prev. Prev.
Open High Low Last Chge y o | ume Openjnt
Aug 00 6600 6625 6590 6622 +3O 465 753
Oct 00 6710 6732 6677 6697 -13 5319 59299
Dec 00 6905 6915 6880 6902 unch 2876 30479
Feb 01 7070 7077 7056 7070 -2 966 15220
Apr 01 7272 7275 7252 7272 -8 446 8635
Jun 01 7045 7050 7032 7042 -3 198 3518
Aug 01 7040 7042 7030 7030 -2 43 2702
Date
08/31/00
08/31/00
08/31/00
08/31/00
08/31/00
08/31/00
08/31/00
Composite Volume Openjnt
08/30/00 10313 120606
Lumber
Daily Prices As ofThursday, 31 August
Date
08/31/00 Sep 00 22000 22460 21810 22180 +260
08/31/00 Nov 00 23650 24270 23610 23880 +290
08/31/00 Jan 01 24920 25250 24860 24970 +l5O
08/31/00 Mar 01 25960 26100 25920 26000 +lBO
08/31/00 May 01 26500 26540 26020 26020 -270
08/31/00 Jul 01 26900 26950 26900 26950 +l9O
08/31/00 Sep 01 0 26730 26730 26730 +2O
Composite Volume Open_lnt
08/30/00 930 3822
Prev
Open High Low Last Chge Vo , ume
596
14
6335 6450 6330 6387 +7
6330 6420 6330 6370 unch
0 6412 6400 6400 unch
0 6500 6500 6500 +9O
Table 1. Chicago Mercantile Exchange Prices, Weekly Averages
25-Aug-00 18-Aug-00 11-Aug-00 4-Aug-00 28-Jul-OO
Cheese
-500 lb barrels
40-lb blocks
Nonfat dry milk
Extra Grade
Grade A
Butter
Grade AA
Source. Dairy Market News, AMS.USDA
(http-//www.ams.usda gov/dairy/inncs/weekly.him).
Cheese
500 lb Barrels 1/ 1.0785 1 1071
40-lb blocks 1.1966 1.1875
Butter 1,1567 1.1587
Nonfat dry milk 1.0109 10139
Dry whey 0.1915 0.1939
Source. Dairy Pwduct Prices, NASS, USDA
(http://usda.mannlib.coinell edu/reports/nassi/pnce/dairy/1999/)
1/ Adjusted to 39% moisture.
Thursday, 31 August
Prev Prev
Open High Low Last Chge Vohjnl( ; o pen_lnt
3399 19244
1827 11688
348 3672
89 1662
11 651
8 185
17 101
0 3
0 1
Open High Low LaslChge ope^
432 1279
417 1595
51 492
22 353
8 64
0 30
0 8
1 1620
1 2875
1 0300 1 0300 1.0300 1.0300 1 0300
1 0300 1 0300 1 0300 1 0300 1 0300
1 1850
19-Aug-00 12-Aug-00 5-Aug-00 29-Jul-00 22-Jul-OO
Prev.
Openjnt
1745
27
1 0520
1 2215
1 0820
1 2815
1 1950
1 1875
1 1738
1 2212
1 1291
1.0049
0 1948
1.1730
1.2635
1 0580
1 1450
1 1550
1.1833
1 1856
1.2144
1 1274
1.0098
0 1965
1 2192
1 2280
1 1422
1 0124
0 1938