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