Al6-Lancaster Farming, Saturday, May 26,2001 GRAIN. CATTLE, HOG, &MILKBFP FUTURES MARKETS Markets Courtesy of Chicago Board and Mercantile Exchange Closing Bids: Thursday, May 24,2001 Corn ‘ Month O^hlngj 7 High' , Low [ ~ v OlJul | 194 194 1/2 193 1/4 193 3/4] 01Sep 201 3/4 202 1/2 201 1/4| 201 3/4 | O|fioy! 209 209 1/4 209 209 1/4 j [oi|fe«i|2l2 1/2 213 1/2 212 1/4, 212 1/2 | ' 216 1/4 n| 224 1/4 225 1/4 224 1/4 224 1/2 [224 3/4 »| 231 1/2 232 231 1/2 231 1/2 1 231 3/4 [o£m 238 1/4 1 239 238 1/4| 238 3/4 1 [O2Se? 242 1/2 243 1/2 242 1/2 243 1/4 ] 2481 249 248 248J7 2 | 2601 261 [ 02DCC fosbesl 260 , Month jbj^rtttig Soybeans __ 'Month'Opening| High I Low ■[ • .Closing '■ S«jttij|frjt)lete£hgj OUul 447 1/2 452 44?i450 1/2 449 1/4 1449 3/41 + 42i OlAug 442 445;441 1/4 j 443 442 1/2 442 3/4 OlSep 433 434 1/2 431 1/2(432 1/4 431 1/2 [431 3/4 01 NOV 434 436 432 1/2 433 1/2 432 1/2 433 023 an 442 444 441 1/2(441 1/2 441 1/2 02Mar 451 4521449 1/2|449 1/2 ' f 449 1/2 +l4; Pork Bellies ,«7. 457 456 456 I 456 + 1 ?! Daily Prices As of 02Jul 464 1/2 464 l/2 i 46 _ 4721/2 472 1/2C 470| 472, 470 | 471 f +lO Mate High Liw .>> Soybean Meal Month Opening High Low Oliul 163.3 166.1 163.2 OlAlli 158.5 160.6 157.9 OlSep 01 Oct 154.5 155.8 153.8 150.7 151.7 150.7 OlDec 151.4 151.5 150.4 02Jan 151.8 151.8 150.7 152.0 152.3 151.7 02Mar 02May 151.0 151.0 150.0 02Jul , 02AUg; 151.0 151.2 150.5 02Sep 02Oct Month .Opening, High . Low Weekly Dairy Market Outlook Ken Bailey Penn State May 18,2001 Cow Numbers Heading Down • April milk production report released. • April milk down 1.9 per cent. • Cold storage shows fewer dairy stocks. USDA released the April milk production and cold storage re ports this week. They reveal a recent trend toward less milk from fewer cows and lower in ventory levels for cheese and butter. Milk production in 20 major dairy states during April 2001 totaled 12.2 billion pounds, down 1.9 percent relative to a year ago. March revised milk production was 12.4 billion pounds, down 2.3 percent from March 2000. Production per cow in the 20 major dairy states averaged 1,572 pounds for April 2001, a drop of 21 pounds relative to April 2000. And cow numbers 261 High LOW j Closing 165.3 165.5 159.7 159.6 155.0 151.0 150.9 150.7 150.8 ! 150.7 151.7 150.0 150.5 1 150.5 | 150.7 ; 149.0 bj149.5 a 149.5 b'150.0 aj 150.5 b 152.0 a 151.2 +9 csir:siiis on farms was 7.74 million head for April 2001, 45,000 head less than a year ago and 12,000 head less than March 2001. The data indicates there have been eight successive months of declines in cow numbers. An analysis of the April 2001 data indicates that 13 of the 20 major dairy states experienced a decline in milk production rela tive to a year ago. In fact, pro duction changes in April relative to a year ago for the top 5 major milk producing states (in order) were California up 1.6 percent, Wisconsin down 3.3 percent, New York down 4.2 percent, Pennsylvania down 5.7 percent, and Minnesota down 5.2 per cent. Fourteen out of the 20 major dairy states had a reduction in cow numbers in April relative to a year ago, and 13 out of 20 ex perienced reduced production per cow. The only states with produc tion growth in April (relative to April 2000) were Indiana (+10.6 percent), Idaho (+8.6 percent), New Mexico (+3.8 percent), Cal ifornia (+1.6 nerceml Michigan 194 213 jSettleiNet Chg 165.4: +3O i59.e! 155.0 150.91 150.7| 150.71 151.7 [ 150.21 150.6 149.3 149.8 + 14 1 193 3/41 201 3/4 209 1/4 1 + 16 + 16 212 3/4 [ + 141 + 141 216 1/4 224 l/2[ -t“l +l4 l 231 1/2 [ 238 3/4[ 243 1/4' + 16| + 16 248 l/2[ ; 261 1 f S«ittlV ftet ChQ + 20 + 12 + 32, + 14 + 14 + 14 + 23 + 181 + 12 + 71 Oats + 7' Month Opening High LoV& Closing T Settle Net Chg OUul 110 1/2 1113/4 110 1/2 1111/2 1111/4 1111/4 +l2 ClSep 108 3/4 109 3/4 108 3/4 109 109 115 116 ' 115 115 3/4 a 115 3/4 i 120 1/2 b 121 3|120 3/4 124 1/2 124 1/2 124 1/2 124 1/2 |124 1/2 +2 ptliilrtPjiJpenWlg i t * f Settle Net Ghg + 5i +9 + 11 Unch Unch (+0.4 percent), and Ohio (+0.3 percent). The top five worse performing states in April with regard to milk production growth were Texas (-12.3 percent), Missouri (-10.5 percent), Arizona (-9.4 percent), Vermont (-6.4 per cent), and Pennsylvania (-5.7 percent). One possible reason for the sudden reduction in cow num bers may have been due to beef prices. USDA’s NASS office re ports that cull cow prices (Wis consin) rose $1.60 per CWT from $41.70 in March to $43.30. Cull cow prices in April 2000 were just $40.50 per CWT. Some farmers may be using higher beef prices to replace low-end cows. The problem, however, is that the cost of re placements has also risen in recent months. The cash markets remain very strong. At the Chicago Mercan tile Exchange, barrel cheese prices closed at $1.5675 per pound and block cheese prices closed at $1.6075 per pound on Friday, May 18 (both had no sales). Grade AA butter prices advanced slightly this week, closing at $1.91 per pound on Friday. The butter price rose on Lean Hogs Daily Prices As of Thursday, 24 May Date Jun 01 JulOl Aug 01 Oct 01 Dec 01 Feb 02 Apr 02 05/24/01 05/24/01 05/24/01 05/24/01 05/24/01 05/24/01 05/24/01 Composite Volume Open_lnt 05/23/01 7332 42308 Live Cattle Daily Prices As of •- Thuisday, 24 May Date 05/24/01 05/24/01 05/24/01 05/24/01 05/24/01 05/24/01 05/24/01 Jun 01 Aug 01 Oct 01 Dec 01 Feb 02 Apr 02 Jun 02 Composite Volume Open_lnt 05/23/01 21855 111246 May 01 05/24/01 05/24/01 05/24/01 05/24/01 05/24/01 05/24/01 JulOi Aug 01 Feb 02 Mar 02 May 02 Composite Volume Open_lnt 05/23/01 905 2804 ing to sell butter <at prices be tween $l.BB and $1.91 per pound. Futures settlement prices at the Chicago Mercantile Ex change also remained firm in light of the milk production report. Class 111 futures settle ments on May 18 rose to $13.78 for May 01, about $14.50 for June through September 01, $13.79 in October, 13.26 in No vember, and $12.65 in Decem ber. Class IV settlement prices on May 18 were $14.90 for May 01, about $15.20-$15.42 for June 01-September 01, $14.95 for Oc- To help farmers across the state to have handy reference of commodity input costs in their feeding operations for DHIA record sheets or to develop livestock feed cost data, here’s last week’s average costs of various ingred ients as compiled from regional reports across the state of Pennsylvania. Remember, these are averages, so you will need to adjust your figures up or Open High Low Last Chge 6710 6775 6680 6695 6385 6475 6375 6407 6075 6140 6070 6087 5220 5260 5210 5237 4980 5040 4960 4987 +l5 5100 5117 5100 5110 -7 5140 5140 5135 5140 unch Open High Low Last Chge 7370 7390 7332 7372 +l7 7307 7347 7280 7327 +35 7435 7490 7422 7480 +53 7502 7547 7480 7540 +5O 7525 7567 7495 7560 +45 7670 7740 7662 7732 +37 0 7390 7360 7390 unch - Thursday, 24 May Open High Low Last Chge yope £7„ V ; 4 42 767 2216 125 480 9 58 0 3 0 4 0 7612 7612 7612 7590 7760 7590 7732 7380 7555 7380 7470 6950 7050 6950 6985 0 6960 6900 6900 0 7000 6950 6950 Average Farm Feed Costs for Handy Reference Prev. Volume 3659 1983 1082 234 362 -50 -10 -15 -3 Prev. Volume 9215 8566 •3032 624 282 120 16 unch +75 +35 +35 unch unch tober, $14.15 for November 01, and $13.85 for December 01. USD A released the April cold storage report today. April butter stocks were down 17.5 percent relative to a year ago. American cheese stocks at the end of April were down 10 per cent. Finally, all cheese stocks by the end of April were down 9.2 percent. This trend in cheese and butter inventories signals a significant reduction in invento ries in the next few months, if the milk supply continues to be tight. down according to your location and the quality of your crop. Corn, No.2y 2.2 bu., 3.94 cwt. Wheat, N 0.2 2.31 bu., 3.85 cwt. Barley, N 0.3 —1.51 bu., 3.23 cwt. Oats, N 0.2 —1.42 bu., 4.43 cwt. Soybeans, No.l 4.06 bu., 6.78 cwt. Ear Corn 60.61 ton, 3.03 cwt. Alfalfa Hay —lOB.OO ton, 5.4 cwt. Mixed Hay —llO.OO ton, 5.5 cwt. Timothy Hay —105.75 ton, 5.29 cwt. Prev. Open_lnt 12392 9903 6950 7147 4730 972 214 Prev. Openjnt 24365 40020 26004 12848 6300 1634 74 + 12 + 16 + 6
Significant historical Pennsylvania newspapers