Al6-Lancaster Fanning, Saturday, June 2,2001 GRAIN, CATTLE, HOG, &MILKBFP FUTURES MARKETS Markets Courtesy of Chicago Board and Mercantile Exchange Closing Bids: Thursday, May 31,2001 COm 11l 190 1/2 198 1/2 201 198 1/2 200 1/4 \ 201 200 1/21 +24 mggj2o9 3/4 212 209 1/2 212 211 1/4 211 1/2; +24; PBBpMI 1/4 223 1/2 221 1/4 223 1/4 223 1 422 |||B|| 229 230 l/2 230 1/4 | 230 1/41 +22, l/2 237 1/4 235 1/4 237 1/4 237 1/4 +2O [q2Sfpii24o 1/2 241 3/41 240 1/4 241 3/4 |241 3/4i +l6 [df^i 246 1/4 249 245 3/4' 249 248 1/2 248 3/4 1 +3O 03Dec 258 260 3/4 258 260 3/4 1260 3/4 . 1 "> 'Month Opening High Low Closing 1 Settle Net Chg Soybeans E 2 433 l/2]421 1/4 431 433 1/2 432 1/41 +l2O 2 441 431)440 441 440 3/4[ +ll6 0 448j439JL/2 f 448 | ] 448 +ll2l 451 4551 450 455 F , 455 +lOO ij£ftd';4s2 1/2 460 1 452| 460 ( I 460| +94 P||Pr! 462 466 j ~462j 466 [ ' 4661 _ +6O Month Opening HigHisf'J^^-4 ' ___ _ Soybean Meal \< th !' '*• High Low , t ( Se f I 1 59.6 165- 16: 4 / "40.3 f 160.& +5O Month {Opening High Low , Closing Settifcj^iefrGhg , OUul 160.2 166.0 159.6 165.5 1 166.0 165.?' +55 qiAug; 155.5 ieo.s i 54.5! ieo.3 [ ieo.s ieo.4 01 Sep 150.3 155.0 150.0; 154. OXOct 146.3 151.5 146.01 151. OiDec 146.0 151.0 145.5 i 150. 146.5 150.5 146.4 150. 02Jan{ 147.0 151.5 146.51 151. [oiSar! io^jMtavi 147.0 149.0; 146.5 [ 149. 147.5 149.0 147.21 149. 02Aug ' 1 148.5 b 149.5 a! 149.6 +is| i149.0 bfISO.O a) 149.51 +lo| 02Qtt 149.0 149.5 149.0 149.5 b]150.5 a 149.5 4-5 High | s SHHH Weekly Dairy Market Outlook Ken Bailey Penn State Global Butter Markets Tighten • European butter stocks low because of foot and mouth dis ease. • Australia and New Zealand production nearing seasonal end. • U.S. cheese and butter prices remain firm. The psychological barrier to higher U.S. butter prices may be tested sometime this summer as international sources tighten up. USD A reported this week in Dairy Market News that avail able supplies of butter in both Europe and Oceania are rela tively tight. The milk supply in Western Europe is expected to be re duced because of cool/wet condi- BUSINESS PAGE APPEARS IN SECTION C See the latest in equipment and material news, promotions and new hires, and burgeoning ag ventures on the business news page located in Section C this issue! tions and animal slaughter because of foot and mouth dis ease. Cheese production will remain unchanged, with most of the reductions occurring in other manufactured dairy prod ucts. Thus, butter/powder prices are expected to be high this summer because of the milk shortage. Milk production is nearing the seasonal end in both Austra lia and New Zealand. New Zea land is expected to finish the season 8 percent ahead of last year. Australia, however, will be 3-3.5 percent behind a year ago. While the additional milk production in New Zealand will result in greater inventories of manufactured products, USD A reports that most are already committed. In fact, recent butter sales to the U.S. have “depleted most volumes that were addi tionally available.” Other coun- 5 J 155.0 154.7 [ 5 r 151.3 ,151.4| 151.0 j 5 ( 150.3 " 150.4 5jj151.3 1151.4 149.0 0 149.0 + 44 + 51, + 51j oats +4ll _ ; (Nc££i|g. 6*i#f 1131114 3/4(112 3/4 114 3/4 ;ii4l/2 1141/2 +22 OiS6f»! 11l 3/4 112 1/2 111 1/4 1121/2J112J1/4 112 1/4 l/4 117 3/4 116 1/4 117 3/4 j jll7 3/4^ Ofewar ~ 122 122 1/2' bi _ (122 1/2 ±*H + 37 + 2?j tries are avoiding Western European sources and are look ing to New Zealand to fill their butter needs. Oceania prices (Australia and New Zealand) for 82 percent butterfat were $0.59-$0.61 per pound for the week May 14-25, 2001. U.S. prices for butter and cheese looked very strong this week. The Chicago Mercantile Exchange reported barrel cheese prices $1.56-1.58.per pound, and block cheese prices of $1.6075- $1.6175 per pound for the week of May 21-25. Grade AA butter prices remained steady at $1.91 per pound. The futures markets at the Chicago Mercantile Exchange also remained firm this week. As of May 25, settlement prices for Class 111 futures reached about $l5 per CWT for the months July September 2001. Class IV settlement fu tures had a peak of $15.50 for August 2001. The May Class 111 price is expected to be $13.80 per CWT and the Class IV price is expected to be $14.90. Lean Hogs Daily Prices As ofThursday, 31 May Date 05/31/01 05/31/01 05/31/01 05/31/01 05/31/01 05/31/01 05/31/01 Jun 01 JuiOl Aug 01 Oct 01 Dec 01 Feb 02 Apr 02 Composite Volume Open_lnt 05/30/01 11666 42210 Live Cattle Daily Prices As of Date 05/31/01 JunOl 7455 7485 7435 7462 +45 05/31/01 Aug 01 7450 7470 7415 7447 +77 05/31/01 Oct 01 7600 7627 7587 7605 +65 05/31/01 Dec 01 7600 7642 7600 7632 +62 05/31/01 Feb 02 7602 7645 7602 7630 +5B 05/31/01 Apr 02 7745 7800 7745 7785 +45 05/31/01 Jun 02 7400 7430 7400 7425 +45 Composite Volume Open_lnt 05/30/01 12819 113384 Pork Bellies Daily Prices As ofThursday, 31 May Date 05/31/01 JulOl 8080 8125 8010 8085 05/31/01 Aug 01 7865 7950 7835 7867 -110 05/31/01 Feb 02 7215 7215 7210 7210 -95 05/31/01 Mar 02 0 7250 7200 7200 -40 05/31/01 May 02 0 7280 7280 7280 unch Composite Volume Open_lnt 05/30/01 1420 2744 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 Two $4,000 scholarships are available to Maryland youth who are currently enrolled in or have been enrolled in a dairy project (all dairy breeds). Stu dents must be pursuing a four year degree in any agricultural program in the college of then choice. Scholarships are avail able to entering freshmen through entering seniors. A recent picture and a current transcript must accompany the application. Applications must Open High Low Last Chge 6885 6905 6830 6882 -15 6655 6672 6602 6660 +5 6360 6400 6302 6395 +6O 5390 5432 5370 5427 +l7 5140 5170 5130 5165 +8 5205 5245 5200 5245 +2O 5210 5220 5190 5210 unch - Thursday, 31 May Open High Low Last Chge Open High Low Last Chge 126 Average Farm Feed Costs for Handy Reference Maryland Dairy Scholarships Available Prev. Volume 4767 4388 1637 556 275 29 14 Prev. Volume 4475 5212 2015 686 414 11 Prev. Prev. Volume Open_lnt 1222 2195 187 442 11 99 0 3 0 4 -90 126 down according to your location and the quality of your crop. Corn, No.2y 2.21 bu., 3.96 cwt. Wheat, N 0.2 2.36 bu., 3.94 cwt. Barley, N 0.3 —1.48 bu., 3.17 cwt. Oats, N 0.2 —1.42 bu., 4.43 cwt. Soybeans, No.l —4.13 bu., 6.89 cwt. Ear Corn 57.47 ton, 2.87 cwt. Alfalfa Hay 115.00 ton, 5.75 cwt. Mixed Hay —llO.OO ton, 5.5 cwt. Timothy Hay—llo.oo ton, 5.5 cwt. be postmarked no later than July 1. The scholarships will be presented at the Dairy Awards Program at the Maryland State Fair. These scholarships are made possible due to the generous do nation of a Friend of Maryland Dairy Youth and 4-H. For applications or more in formation contact: Arthur and Peggy Johnson, Co-Chairs, 22520 Mt. Ephriam Road, Dick erson, MD 20842, (301) 972- 8274. Prev. Open_lnt 10274 11077 7569 7244 4512 1245 289 Prev. Open_lnt 19938 45060 25474 14213 6735 1831 133 + 12j + 14, + 10| + 2
Significant historical Pennsylvania newspapers