Al6-Lancaster Farming, Saturday, December 23, 2000
GRAIN. CATTLE, HOG,
& MILK BFP
FUTURES MARKETS
Markets Courtesy of Chicago Board and Mercantile Exchange
Closing Bids: Thursday, December 21,2000
Corn
255 3/41
264 1/4 265 3/4 263 3/4[
[%mT~ 273 274 3/4, ’ 273 r
2671267 1/2
T LOW
Oats
Month {Opening High
01Mar[
110 1/2 111 1/2 109 3/4 111 1/4
OlMay
OUul
OlSepi
116 3/4 117 1/4 116 117 1/4
122 3/4 123 1/2 122 3/41123 1/4 a
125 1/2 126 125 1/2, 126 b
01Dec>131 1/2 133 1/2 131 1/2 133 1/2 b
Month jOpening High Low ; Closing
Soybeans
Month Opening;
I OUan
507
OlMar 515 1/2
OlMay 522,
527
1 OUul
527
OlAug
525
OlSep
OINov
524
1 02 Jan
542 1/2
b
[559 1/2
„ _ b #
j Month'Opening | ‘Low’^_
02Mar
02NOV
By Ken Bailey
Penn State University
December 15,2000
November Milk
Production Slows
• Milk production in
20 states up just
1 57r
Cow numbers
slowing
CME butter falls to
$1 20/lb
The Nation's milk supply is
finally showing signs of slowing
down USDA reported that
November milk production for 20
select states was up just 1 5
percent from a year ago That
compares with growth rates of 3-4
percent the first quarter of this
year Production per cow m
November averaged 1,463
pounds, just 4 pounds above a
year ago. And the number of
cows on farms in 20 select states
in November was 7 85 million
head That’s just 1,000 more
head than in October 2000
Both yield per cow and cow
numbers are slowing down Milk
production in November was up
just 1 7 percent m California,
down 8.4 percent m Arizona, up
8 5 percent in Idaho, and up 5 1
percent m New Mexico In the
Midwest, milk production was up
19 4 percent in Indiana, up 7 6
T L^;f§||||
0|217 1/2 220
223 3/4
231 3/4
239
246 1/4
266{
LOW
High ' Low
5111505 1/2 511 i
519 1/2 514 3/4 519 1/2(518 1/2
521 [525 1/ 2 [ 525
525 1/2
530 l/2i
526
529 1/4,525 3/4
5251521 1/2
526 1/21 523
f r (534 1/2
. ! m
Weekly Dairy Market Outlook
percent in Michigan, and up 5 6 pounds for the week. '
percent in Ohio. In the Southeast, On December 1 USDA
milk production in Florida was up announced November federal
7 5 percent order class prices of $13.68 per
Butter prices at the Chicago cwt for Class 11, $8.57 for Class
Mercantile Exchange fell 65 25 111, and $l3 00 for Class IV.
cents per pound during the past 5 November average butter prices
CME cash trading sessions were relatively high at $1 4051
Butter prices began the week at '
$1.30 per pound on Monday and
fell to $1.20 by Friday USDA Table 1. Chicago Mercantile Exchange Prices, Weekly Averages
reported that year-end holiday
orders have been placed and
shipped Thus current prices
reflect very short term needs.
Food service needs are reported to
be very active for this time of
year
Cheese prices rose slightly this
week at the Chicago Mercantile
Exchange. Barrels rose from
$1 0950 per pound on Monday,
December 11 to $1 1100 per
pound by Friday, December 15
Blocks also rose from $1 0950 per
pound on Monday to $1 1250 by Table 2
Friday USDA reported that
natural demand is seasonally good
and process cheese is moderate to cnr ... „ ...
good The government purchased b u fT
11,976 net pounds of blocks and R 40 ‘ lb blocks
554,400 pounds of process cheese 7/'^
from the Midwest under the dairy ‘ v " on ‘ at m "k
price support program this week. Dry wbey
However, barrel cheese from Source: Dam' Product Prices, NASS, USDA
western sources had contract ( http://usda.maimhbcorneU.edu/reports/nassr/pnce/dairy/1999/).
adjustments resulting in a // Adjusted to 39% moisture.
negative adjusted total of 268,251
226 1/2 226 1/4
234 234 1/4
24 1 1/2 241 3/4 241 1/2 7
23 4 1/2
248 1/4
248
257 3/4 [257 1/2 [257 1/2
265 1/2 1265 3/4 [265 l/2{~ +4j
274 3/4
267 172_L 287 l/2\ -4
Settle Net Chg
Closing
111 1/4]
117 l/4f
123 1/41
;i33 1/2i +6
[Settle [NetChg
Closing'.
509
530 1/27
530 ;
529 1/4J
525 I
526 l/2i
526 I
543 a !
560 a !
220
+ 16
226 1/4
+ 12
+ 14
+ 12
248
+ 12
274 3/4
+ 101
+ 6
+ 6
+ io;
1261
+ 2'
15-Dec-00 8-Dec-00 1-Dec-00 24-Nov-00 17-Nov-00
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/mncs/weekly. htm).
NASS Weekly US Average Survey Prices
9-Dec-00 2-Dec-00 25-Nov-OO 18-Nov-OO 1 l-Nov-00
Lean Hogs
Daily Prices As ofThursday, 21 December
Date
Feb 01
Apr 01
Jun 01
JulOl
Aug 01
Oct 01
Dec 01
Feb 02
Apr 02
12/21/00
12/21/00
12/21/00
12/21/00
12/21/00
12/21/00
12/21/00
12/21/00
12/21/00
+ 6
Composite Volume Openjnt
12/20/00 6401 41906
Live Cattle
Daily Prices As ofThursday, 21 December
Date
12/21/00
12/21/00
12/21/00
12/21/00
12/21/00
12/21/00
12/21/00
Dec 00 7830 7860 7750 7797
Feb 01 7760 7772 7660 7692
Apr 01 7847 7857 7770 7795
Jun 01 7427 7432 7345 7367
Aug 01 7435 7437 7365 7372
Oct 01 7585 7585 7530 7550
Dec 01 7625 7630 7605 7620
Composite Volume Open_lnt
12/20/00 15499 132222
Pork Bellies
Daily Prices As ofThursday, 21 December
Date
Feb 01
Mar 01
May 01
12/21/00
12/21/00
12/21/00
mum
12/21/00
JulOl
Aug 01
Composite Volume Open_lnt
12/20/00 603 2708
1 0910
1 1025
1.1020
1 1090
1.0300 1 0300 1.0300 1.0300 1.0300
10300 10300 1 0300 10300 1.0300
1.2500
1 7175
1 0351
1 0521
1 7581
1.0147
0 1984
1 0474
1 0720
1 7518
1 0126
0 2164
Pppv
Open High Low Last Chge y o j um g
4452
1164
369
180
115
86
35
5610 5635 5577 5585
5650 5665 5622 5635
6220 6232 6185 6202
6005 6030 5975 5987
5850 5850 5800 5822
5045 5045 5000 5017
4815 4815 4777 4787
0 4867 4845 4867
0 4870 4850 4862
Open High Low Last Chge
Open High Low Last Chge
6700 6720 6645 6672 -63
6695 6732 6655 6665 -45
6800 6825 6752 6752 -53
0 6850 6760 6760 unch
6800 6850 6800 6850 -47
per pound, whereas cheese prices
were relatively low at $1.0245 per
pound. Since then cheese prices
rose to support levels and butter
prices have weakened. Thus I am
forecasting December class prices
of $14.34 per cwt for Class 11,
1.0517
1.0833
1.0710
1.0985
1 8325
1.7950
1.0020
1 0443
1 7217
1.0161
0 1990
0 9851
1 0t)81
1 5498
1 0159
0 1939
Prev.
Volume
2376
8449
2565
1075
846
133
55
Prev.
Volume
556
43
$9.19 for Class 111, and $13.61 for
Class IV.
For more information
regarding milk markets, see my
website: www.aers.psu.edu/dairyo
utlook/
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.
1,0340
1.1020
1.7950
Corn, No.2y —1.96 bu., 3.50 cwt.
Wheat, N 0.2 2.23 bu., 3.72 cwt.
Barley, N 0.3 —1.39 bu., 2.96 cwt.
Oats, N 0.2 —1.36 bu., 4.24 cwt.
Soybeans, No.l 4.5 bu., 7.52 cwt.
Ear Corn 57.61 ton, 2.88 cwt.
Alfalfa Hay —105.00 ton, 5.25 cwt.
Mixed Hay—106.25 ton, 5.31 cwt.
Timothy Hay —108.75 ton, 5.44 cwt.
0.9875
1 0222
1.2958
1.0178
0.1898
Prev.
Openjnt
26393
6596
4271
1417
804
1295
1097
32
Prev.
Open_lnt
6466
64977
32229
12733
11754
2937
1125
Prev.
Open_lnt
2233
247
130
69
29
Sc/,