Al6-Lancaster Farming, Saturday, January 27,2001 GRAIN. CATTLE, HOG, &MILKBFP FUTURES MARKETS Markets Courtesy of Chicago Board and Mercantile Exchange Closing Bids: Thursday, January 25,2001 Corn IUJziS 3/4 215 3/4 213 1/4 213 1/2 213 1/4 213 1/2 -20 jSBW 224 224 221 1/2 221 3/4 221 1/2 221 3/4 -16 IjM 232{232 1/2|229 1/2 230 229 1/2 229 3/4 -16 239 239 237 1/2 237 1/2 237 1/2 -16 250 1/4 248 248 248 1/2 24S 1/4 -16 257 1/4 -16 268T72 268 268 268 265 1/4 264 1/4 265 265 -20 /2 J 3' __ 0 1 .*3/4 1161 Oats i: - _. . a, c u OlMarjlOS 1/21105 1/21104 1/2 104 1/2 1 u iMlll 1/4 111 3/4|llO 1/4 110 1/4 110 1/4[~~ -6 ll7 l/4(ll7 l/4|115 3/4j 116 [lls 3/4 f roW 121 121f120 1/2 120 1/2 aj Dec| 127 127[125 1/4f 125 1/4 |125 1/2 [125 1/2 02M$r ’’ J ' ' 129 3/4 nj [129 3/4 cans Wheat Table 1. Chicago Mercantile Exchange Prices, Weekly Averages 12-Jan-01 5-Jan-01 29-Dec-00 22-Dec-OO Cheese 500 lb barrels 40-lb. blocks Nonfat dry milk: Extra Grade Grade A Butter: Grade AA 1 2413 1.2367 Source: Dairy Market News, AMS.USDA (http://www.ams.usda.gov/dairy/mncs/weekly.htm). Table 2. NASS Weekly US Average Survey Prices Cheese 500 lb Barrels 1/ 1 1080 11218 40-lb blocks 1 1077 1 1283 Butter 1.1588 1.1064 Nonfat Dry Milk 1.0155 10192 Dry whey 0 2483 0 2410 Source: Dairy Product Prices, NASS, USDA (http.//usda.mannhb.cornell.edu/reports/nassr/pnce/dairy/1999/). 1/ Adjusted to 39% moisture. 19-Jan-01 10800 1.0650 1.0850 1.1188 1.1320 1 0869 1.0705 1.0900 1.1450 1.1420 13-Jan-01 6-Jan-01 30-Dec-00 23-Dec-OO 16-Dec-00 120 1/2 1.0300 1 0300 1.0300 1.0300 1.0300 1.0300 1.1338 1.1300 1.1417 1 1011 1.0960 1.1623 1.0148 0.2236 1 1223 1 1101 1 1183 1.0146 0.2350 Lean Hogs Daily Prices As of Date 01/25/01 01/25/01 01/25/01 01/25/01 01/25/01 01/25/01 01/25/01 01/25/01 01/25/01 Composite Volume Openjnt 01/24/01 12753 40803 Live Cattle Daily Prices As of Date 01/25/01 Feb 01 7830 7920 7790 7837 01/25/01 01/25/01 01/25/01 01/25/01 01/25/01 01/25/01 Unch -12 -10 Composite Volume Openjnt 01/24/01 30614 132056 Pork Bellies Daily Prices As of Date 01/25/01 01/25/01 01/25/01 01/25/01 01/25/01 01/25/01 01/25/01 Composite Volume Openjnt 01/24/01 649 2722 1.0782 1.0906 1.4819 1.0188 0.2224 - Thursday, 25 January Prev Open High Low Last Chge y o j um g 6054 4551 1635 168 238 79 28 5435 5500 5435 5490 5710 5750 5665 5697 6310 6335 6295 6320 6050 6082 6050 6082 5840 5870 5820 5840 5150 5170 5135 5170 4850 4895 4840 4895 5045 5050 5045 5045 0 4990 4990 4990 Feb 01 Apr 01 Jun 01 JulOl Aug 01 Oct 01 Dec 01 Feb 02 Apr 02 - Thursday, 25 January Prev. Open High Low Last Chge y o | ume 11869 12486 3491 1756 657 323 32 7805 7875 7777 7815 7280 7305 7240 7252 7257 7272 7220 7225 7400 7410 7370 7372 7490 7505 7455 7460 7570 7580 7550 7560 Apr 01 Jun 01 Aug 01 Oct 01 Dec 01 Feb 02 - Thursday, 25 January Prev Open High Low Last Chge Volum g 430 175 32 12 6652 6735 6630 6717 +lO7 6730 6820 6725 6797 +B7 6897 6930 6855 6890 +6B 6925 6995 6925 6995 +9B 6810 7000 6810 6912 +l2 0 5425 5425 5425 +75 0 5425 5425 5425 +75 Feb 01 Mar 01 May 01 JulOl Aug 01 Feb 02 Mar 02 Weekly Dairy Market Outlook Ken Bailey Penn State University January 19,2001 Futures Market Strengthens • Class 111 futures to peak at $l2/cwt. • Class IV futures to peak at $l3/cwt. • Milk supply tightens. The outlook for dairy markets is showing signs of improve ment. First, milk production in December actually showed signs of slowing down. The number of cows on farms fell from the prior month. And, the futures market at the Chicago Mercantile Ex change (as of January 18, 2001) is optimistic about Class 111 and IV prices for the remainder of 2001. December 2000 milk produc tion for 20 select states totaled 11.9 billion pounds, unchanged from a year earlier. And, De cember cow numbers were at 7.84 million head, about 4,000 head less than November 2000. Production per cow was 16 (Turn to Page A2l) Prev. Openjnt 10547 16307 6960 1616 2134 1891 1276 71 Prev. •pen_lnt 33454 57761 18673 14799 5076 2024 269 Prev. Openjnt 1445 779 304 151 41
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