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