Al6-Lancaster Farming, Saturday, March 3,2001 GRAIN. CATTLE. HOG, &MILKBFP FUTURES MARKETS Markets Courtesy of Chicago Board and Mercantile Exchange Closing Bids: Thursday, March 1,2001 .5i217 I/21213 4 225 2211 224 |224 1/4 I 224 f 4 233 1/4 229| 232 |232 1/2 ,232 1/4| 19 241 1/4 237 1/2| 240 240 4/4 f 240 f __ 4 252 248,250 3/4 251 1/2 1 251| 02Mar 258 3/4 260 1/2 257 1/4 259 3/4 260 1/4 j 260 d2Mayl 264 266 1/2 2631266 1/4 | 266 l/4{ 021ul j 267 1/4 271 267 1/4 270 3/4 | 270 3/4| 265 1/2 269 265 1/2 268 3/4 268 3/4| 02Dec Month {Opening High Low Soybeans Month Opening High Low OlMar 454 1/2 460 1/4 453 1/4 456 464 454 1/2 OlMay 464 471 1/2 461 1/4 01 Aug 464 1/2 470 l/4j460 1/2 OlSep 462 1/2 469 1/2 460 1/2 01NOV 467 474 [464 1/4 02Jan 477 483 1/2 475 1/2 02Mar 485 1/2 493 l/2[485 1/2 OUul 02May 493,499 1/21 02Jul 503 1/2 02Nov 510 Month Opening! Soybean Meal Month Opening High Low Closing < OlMar 155.8 156.9 154.5 156.5 156.3 155.0 157.0 153.9 156.4 156.9 OlMay 154.5 157.3,154.0 156.3 156.4 OUul OlAug 153.7 156.4 153.5 155.3 155.2 153.0 155.6 152.6 154.0 I OlSep 01 Oct 152.0 154.5 151.8 153.3 i 153.4 OlDec 152.5 155.3 152.1 154.0 153.3 156.0 153.3 154.0 b|154.1 a 02Jan 158.0 158.0 156.5 156.0 b{156.5 a 160.0 160.0 157.5 157.0 b 1157.5 a 02Mar 02May 02Jul 159.0 159.0 158.0 157.0 b 158.0 a Month Opening High Low Closings,/, Weekly Dairy Market Outlook Ken Bailey Penn State Feb, 23,2001 Markets Remain Firm • Butter stocks lower • Cheese and butter prices higher • Advanced prices an nounced • Analysis of Santorum/Kohl Bill Butter prices reached $1.5025 per pound this week. According to USDA, “many continue to question if the supply/demand situation warrants such a firm price for this time of year.” The answer to that is “yes.” Butter production increased just enough last year to meeting growth in demand. This oc curred when there was a 3.0 per cent growth in the milk supply. It now appears that the milk Clearly current prices are firm supply in 2001 will slow. That due to fears regarding the future means butter production will be milk supply, a limiting factor in the milk USD A announced advanced market during 2001. prices today under the federal Just look at the inventory sit- order system. The base price for uation. Butter prices rallied last Class I milk for March 2001 is Thanksgiving due in part to $12.65 per cwt. That price is de strong demand. USDA’s most rived from the advanced Class recent Cold Storage report indi- IV skim milk pricing factor of cates that December 31, 2000 (Turn to Page A 22) 493 508 {503 1/2 513 51o[siO 1/2 bjsil 1/2 a ; High f Low stocks were down 3.9 percent compared to a year ago. That same report shows January 31, 2001 stocks are down 20.1 per cent relative to a year ago. Demand for butter must be good, and production appears limited. Butter demand is firm right now due to seasonal pur chasing for the upcoming East er/Passover holidays. Cheese prices also strength- ened this week. Block prices rose from $1.28 per pound on Tues day, February 20 to $1.30 by Friday, February 23. Barrel prices rose from $1.25 per pound on Tuesday to $1.27 by Friday. The Cold storage report indi cates that December 31, 2000 revised stocks of American cheese were up 14.1 percent over a year ago and January 31,2001 stocks were down 0.6 percent. , Closing Closing 456 ! 458 459 461 466 1/2 469 467 465 1/2 470 1/2 | 471 1/2 481 [ 491 | 499 1 506 ( |Settle.Net Chg 156.4 156.6 ! 156.31 1155.2 154.01 153.3 J 154.0 154.0 156.5 157.5 158.0 SettleNetChg + 14 + 16 + 16 + 16 + 16 + 12 + 14 + 6 Settite | Net Chg i Settle |Net«if: + 34 457' 460 1 467 3/4 467 465 1/2 471 481 491 +5O 499 +4O 506 511 T S<Sttli +7 + 17 1 +9' + 12 + 10, + 171 + 15 + 171 '+7! + 12 1 + 12 Cheese 500 lb barrels 40-lb. blocks Butter: Table 2. NASS Weekly US Average Survey Prices 17-Feb-01 10-Feb-01 3-Feb-01 27-Jan-01 Cheese 500 lb Barrels 1/ 11656 11207 40-lb blocks 1 1054 1 0853 Butter 1 3070 1 2972 Nonfat Dry Milk 10124 1.0144 Dry whey 0 2541 0.2645 Source: Daity Product Prices, NASS, USDA (http://usda. mannlib. Cornell, edu/reports/nassr/price/dairy/1999/). 1/ Adjusted to 39% moisture. Lean Hogs Daily Prices As ofThursday, 1 March Date 03/01/01 03/01/01 03/01/01 03/01/01 03/01/01 03/01/01 03/01/01 03/01/01 Apr 01 Jun 01 JulOl Aug 01 Oct 01 Dec 01 Feb 02 Apr 02 Composite Volume Open_lnt 02/28/01 8269 45402 Live Cattle Daily Prices As ofThursday, 1 March Date 03/01/01 03/01/01 03/01/01 03/01/01 03/01/01 03/01/01 03/01/01 Apr 01 8150 8155 8102 8122 JunOl 7410 7415 7357 7372 Aug 01 7290 7307 7257 7265 Oct 01 7520 7525 7480 7485 Dec 01 7612 7630 7580 7585 Feb 02 7700 7700 7690 7695 Apr 02 7775 7775 7772 7775 +42 + 50 +42 + 50 + 54 +5O Composite Volume Open_lnt 02/28/01 20561 128679 Pork Bellies + 34 +5O B Daily Prices As of Date Mar 01 May 01 03/01/01 03/01/01 03/01/01 03/01/01 03/01/01 03/01/01 Jul 01 7880 7980 7880 7975 +BO Aug 01 7800 7870 7800 7870 ' +9O Feb 02 0 7100 7100 7100 +2OO Mar 02 0 7000 7000 7000 +l2O Composite Volume Open_lnt 02/28/01 1386 2905 Oats Month Opfeihmg High Closing.' OlMar 100 1/2 102|l00 1/2 101 1/2 a 01Mayl06 3/4 108 106 1/2 107 6l0«l’: 111 3/4 112 1/21111 1/4 111 1/4 OlSJsp; 115 1/ 2 116 1/4 J ll4 1/ 2 114 1/ 2 l/2 123 122 l/4|122 1/4 a l2B 3/4| * 129 j Table 1. Chicago Mercantile Exchange Prices, Weekly Averages 23-Feb-OI 16-Feb-01 9-Feb-01 2-Feb-01 26-Jan-01 Grade AA 1 4663 1.3533 1 3142 1 3308 Source: Dairy Market News, AMS.USDA ( http://www.ams.itsda.gov/dairy/mncs/weekly.htm). Open High Low Last Chge 6310 6420 6310 6385 6750 6825 6745 6817 6390 6490 6390 6480 6035 6137 6032 6095 5270 5290 5252 5287 5007 5047 5005 5042 5095 5097 5080 5097 0 5070 5070 5070 Open High Low Last Chge - Thursday, 1 March Open High Low Last Chge 7640 7765 7640 7692 +77 7830 7945 7830 7910 +lO5 1 2600 1.2220 1 1880 1 1300 1 2900 1.2190 1 1480 1.1010 Prev. Volume 4961 2470 301 304 154 58 + 105 + 102 +93 +55 +42 +37 +7 + 13 Prev. Volume 11746 3918 1586 1230 554 20 Prev. Volume 653 692 31 10 +S6ttle 101 1/2 107 111 l/4j 114 1/2 122 l/4[ +2| 129| +4! 1 0946 1 0898 1 2874 1.0156 0.2576 1 0854 1.0802 1.2371 1.0154 0.2593 Prev. Open_lnt 24983 9264 2772 3621 2870 1710 160 22 Prev. Open_lnt 66470 21895 21039 13031 4978 1142 Prev. Open Jnt 1114 1500 214 75 + 12 + 4 Unch, Unch 1.0920 1.1110 1.2958 20-Jan-01 1 0900 1.0906 1.2177 1.0175 0 2516
Significant historical Pennsylvania newspapers