Al6-Lancaster Farming, Saturday, July 14,2001 GRAIN. CATTLE. HOG. & MILK BFP FUTURES MARKETS Markets Courtesy of Chicago Board and Mercantile Exchange Closing Bids: Thursday, July 12,2001 Soybean Meal Weekly Dairy Market Outlook Ken Bailey Penn State Powder, Butter Prices Weaken • NASS survey for nonfat drops to $0.96/pound. • CME Grade A butter drops $0.05/pound. • Butter production growing. 140,000 120,000 3 100,000 1 80,000 60,000 40,000 Grade AA butter prices at the Chicago Mercantile Exchange weakened today, dropping from $1.99 per pound on Monday, July 2 to $1.94 on Friday, July 6. The butter market reacted to the USDA’s Dairy Products report released on Tuesday. That report showed butter pro duction rebounded from a year ago it grew 1.6 percent in May 2001 ahead of the same Butter Production f # $ c? 1998 1999 —•—2000 —2OOl Date 07/12/01 07/12/01 07/12/01 07/12/01 07/12/01 07/12/01 07/12/01 Composite Volume Open_lnt 07/11/01 25669 117160 Pork Bellies Daily Prices As ofThursday, 12 July Date 07/12/01 07/12/01 07/12/01 07/12/01 07/12/01 07/12/01 Composite Volume Open_lnt 07/11/01 1370 2338 Oats month a year ago. This is very surprising, since butter produc tion was expected to hie short this year because of declining milk production, USDA also reported this week that “conditions remain highly confused in the nonfat dry milk complex.” Several Western pro ducers of nonfat dry milk con tinued to offer product to the USDA under the dairy price support program. And, the Na tional Agricultural Statistics Service (NASS) reported today that the nonfat dry milk price in their national survey slipped from $1.0117 per pound the week ending June 23 to $0.9643 the week ending June 30. This is the first sign that market powder prices may be weaken ing because of the “tilt” in the butter/powder prices under the dairy support price program. Class prices under federal MIIK.IT Lean Hogs Daily Prices As ofThursday, 12 July Date 07/12/01 07/12/01 07/12/01 07/12/01 07/12/01 07/12/01 07/12/01 07/12/01 07/12/01 JulOl 7245 7250 7180 7187 -120 Aug 01 6795 6815 6735 6780 -45 Oct 01 5795 5805 5725 5792 -35 Dec 01 5427 5442 5382 5437 +lO Feb 02 5590 5590 5575 5575 -15 Apr 02 5575 5587 5575 5585 +3 May 02 6135 6135 6110 6110 -20 Jun 02 6400 6417 6400 6417 -13 Jul 02 0 6210 6190 6190 unch Composite Volume Open_lnt 07/11/01 9251 52652 Live Cattle Daily Prices As ofThursday, 12 July Open High Low Last Chge Prev ’ _ Pr T ev ' Volume Openjnt Aug 01 7375 7445 7365 7385 -10 14378 43037 Oct 01 7535 7590 7512 7542 unch 6025 34254 Dec 01 7515 7567 7492 7542 +25 3390 21975 Feb 02 7675 7732 7665 7682 +7 1133 10681 Apr 02 7790 7835 7785 7807 +lO 671 4389 Jun 02 7420 7460 7420 7430 -5 72 2819 Aug 02 0 7400 7400 7400 +3O 0 5 Jul 01 8770 8950 8730 8925 +2lO Aug 01 8495 8690 8495 8622 +127 Feb 02 7250 7430 7250 7400 +l7O Mar 02 0 7250 7250 7250 +6O May 02 0 8000 7950 8000 unch Jul 02 0 8000 8000 8000 -120 orders were at relatively high levels in June. USDA an nounced that the Class 111 price rose from $13.83 per pound in May at 3.5 percent butterfat to $15.02 in June. Likewise, the Class IV price rose from $15.04 per CWT in May at 3.5 percent butterfat to $15.33 in June. The futures market suggests weaker prices in the fall for both Class 111 and IV prices. As of July 6, the Class 111 price as per the futures market at the Chicago Mercantile Ex change Rate is expected to rise from June levels to $15.14 per CWT in July, and then decline to $14.73 in September and $12.65 by December. Likewise, the Class IV price is expected to fall from June levels to $15.05 in July, to $14.65 in September, and to $13.25 by December 2001. DOES A BODY GOOD. Open High Low Last Chge ~ ?* rev ' Prev. Volume Openjnt 1970 4459 4491 21636 2064 16122 505 ' 7083 183 2341 23 686 7 160 7 113 0 52 Open High Low Last Chge PreV * Pr f v * Volume Openjht 153 256 1093 1812 117 245 6 10 0 13 0 1 Average Farm Feed Costs for Handy Reference 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 down according to your location and the quality of your crop. Com, N0.2y—2.18 bu., 3.91 cwt. Wheat, N 0.2 2.28 bu., 3.81 cwt. Barley, N 0.3 —1.31 bu., 2.80 cwt. Oats, N 0.2 —1.43 bu., 4.45 cwt. Soybeans, No.l 4.21 bu., 7.03 cwt. Ear Corn 58.78 ton, 2.94 cwt. Alfalfa Hay —113.75 ton, 5.69 cwt. Mixed Hay —113.75 ton, 5.69 cwt. Timothy Hay 94.25 ton, 4.71 cwt.
Significant historical Pennsylvania newspapers