Al6-Lancaster Farming, Saturday, March 17,2001 GRAIN, CATTLE, HOG, & MILK BFP FUTURES MARKETS Markets Courtesy of Chicago Board and Mercantile Exchange Closing Bids: Thursday, March 15,2001 Corn 1216 3/4 217 1/2 210 1/2| 211 [2lO 1/2 |2lO 3/4 -70 | 225 225 1/4 218 1/4 219 [2lB 1/4 218 3/4 -66 : 233 1/4,233 1/2 226 1/2 227 [226 1/2 226 3/4 -70 P 243 3/4 244 1/2 237 1/4 238 1237 1/4 237J5/4 -70 j 253 1/4 253 1/4 246 3/4 246 3/4 [ 247 247 -66 259; 259 253 1/2 253 3/4 254 254 52 I 263 3/4J263 3/4 257 257 |257 1/2 257 1/4 -70 | 263 1/2 264 257 1/2 258 1/2 j 258 l/z| -60 ir 5O Soybeans Soybean Meal Mjcmth Opening High dlMay 150.5 152.0|149.5| 151.8 1 152.0 flll.sl ; Ottui 150.0 151.0 WAug SSBjpl :r 149.1 149.7; 148.2 148.5 i 148.01.148.0 [: 148.5 148.5 [ : ■ffjjjfct' 5 i 147.2 | W&6 ! 146.5 147.5~|_147 ! 3j MjyT! 149.0 149.3! 147.0 147.5 148.0 | fsljjlrT 150.0 150.0 149.0 149.5 b 149._8j[ bzMay 150.0 151.0 150.0 ISO.O bjlSO.5 a'[. All I I fiso.o bflSl.O a isb.s! -5 Weekly Dairy Market Outlook Ken Bailey Penn State March 9,2001 March 9) peaking at $13.90 in September. These are very good prices, indicating strong farm level milk prices through the spring. The cheese market was still strong this week, but appears to be a bit shaky. Let’s review the numbers that we have so far. USDA reported today that milk production grew 2.7 per . cent in 2000 from the year before Despite a rocky week for 0 n a daily average basis. Ending cheese prices, the futures mar- commercial stocks of all dairy kets continue to remain strong products (on a butterfat basis) for Class 111 and IV milk. Block grew 11.9 percent. Consumption cheese prices at the Chicago of dairy products was up just 2.3 Mercantile Exchange fluctuated percent. Much of the growth in between $1.26-$1.32 per pound ending stocks was because of this week with barrels at $1.26- cheese. $1.2825 per pound. The grade Qn the consumption side, AA butter prices remained total American cheese grew 1 steady this week at $1.5050 per percent and other cheese grew Cheese pound at the Chicago Mercan- 5.1 percent, both on a daily aver- snoih R am »u 1/ i -moa i ioso tile Exchange. ace basis Ending stocks of all 500 lb. Barrels 1/ 1.2420 1.1958 Class 111 futures contracts on cheese as’of December 31, 2000 40-lb. blocks 11938 1.1441 the Chicago Mercantile Ex- was up 13.9 percent from a year utt^ r 1 4629 1.3416 change were $11.35 per CWT ago> That - S a i ot of growth in Nonfat Dry Milk 1 0126 1.0125 for March (as of March 9), peak- cheese stocks. Dry whey 0.2400 0.2476 rF 3t e P te . m * >er> TJj e What has affected the market, Source: Dairy Product Prices, NASS, USDA Chicago ho .^ ever ’ “ ‘he reduction in the (http://usda.mannlih.cornell.edu/reports/rmssr/price/dairy/1999/). Sas |13.36 ,f, £ Mart* .(* ‘ ‘'' '1 Dairy Futures' Look Promising • Class 111 peaks at $12.59 in September. • Class IV peaks at $13.90 in September. • Cheese market unsettled. • 2000 consumption numbers 1/2 1 468 b 469 a 464 472[~ 478 b 479 o ' 150.8; 148.9 151 148.1JL49. 147.1 148. 7 149 6 I 4 i 148.3 |: 146.3 147. 468 1/ 479 a 484 150.9 149 - 6 L 1.48.3 147.3 147.4 Unchj 147.7 _+2> 149.6 150.2 30 14 10 + 20 + 15 + 10 + 7 +4 + 1 + 2 Oats Table 1. Chicago Mercantile Exchange Prices, Weekly Averages 9-Mar-01 2-Mar-01 23-Feb-01 16-Feb-01 9-Feb-01 Cheese: 500 lb. barrels 40-lb. blocks Butter: Grade AA Source: Dairy Market News, AMS, USDA (http://www. ams. usda. gov/dairy/mncs/weekly. htm). Table 2. NASS Weekly US Average Survey Prices Lean Hogs Daily Prices As of Date 03/15/01 03/15/01 03/15/01 03/15/01 03/15/01 03/15/01 03/15/01 03/15/01 Apr 01 Jun 01 JulOl Aug 01 Oct 01 Dec 01 Feb 02 Apr 02 Composite Volume Openjnt 03/14/01 9757 50573 Live Cattle Daily Prices As ofThursda Date 03/15/01 03/15/01 03/15/01 03/15/01 03/15/01 03/15/01 03/15/01 Apr 01 7825 7857 7785 7797 Jun 01 7280 7307 7240 7252 Aug 01 7225 7235 7195 7205 Oct 01 7450 7460 7415 7417 Dec 01 7552 7555 7520 7522 Feb 02 7630 7630 7620 7627 Apr 02 7730 7730 7705 7717 Composite Volume Open_lnt 03/14/01 26579 131996 Pork Bellies Daily Prices As of Date 03/15/01 03/15/01 03/15/01 03/15/01 03/15/01 03/15/01 Mar 01 May 01 Jul 01 8640 8885 8605 8885 +3OO Aug 01 8450 8670 8440 8670 +3OO Feb 02 7700 7740 7550 7680 +BO Mar 02 0 7700 7520 7670 +7O Composite Volume Open_lnt 03/14/01 777 2915 1.2685 1 2850 1 2600 1.2220 1.1880 1.2800 1.3180 1.2900 1.2190 1.1480 1.5050 1.5008 3-Mar-01 24-Feb-01 17-Feb-01 10-Feb-01 3-Feb-01 - Thursday, 15 March Open High Low Last Chge 6505 6615 6470 6567 7090 7145 7035 7092 6700 6750 6645 6722 6330 6387 6265 6300 5490 5550 5490 5522 5200 5305 5200 5255 5250 5312 5250 5312 0 5225 5225 5225 ,15 March Open High Low Last Chge - Thursday, 15 March Open High Low Last Chge 8470 8725 8470 8725 +3OO 8600 8852 8555 8850 +298 LO6 |lO5 3/4 rjLO«[ -32 L/2 110 1/4 [llO 1/2 L/4 ; 118 1.4663 1.3533 1.3142 1.1654 1.1058 1.3071 1 0127 0 2559 Prev. 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