Al6-Lancaster Farming, Saturday Septembers, 2001 GRAIN. CATTLE, HOG, & MILK BFP FUTURES MARKETS Markets Courtesy of Chicago Board and Mercantile Exchange Closing Bids. Thursday, September 6, 2001 Corn Month Opening High Low Closing OlSep 214 3/4 215 1/4 213 3/4 214 1/2 213 3/4 OINov 222 1/4 222 3/4 221 221 1/4 221 227 227 3/4 226 226 1/2 230 01 Dec 02Jan 231 1/4 231 1/4 02Mar 239 239 1/2 237 3/4 238 1/4 237 3/4 02May 243 1/2 244 242 1/2 242 1/2 243 02Jul 247 3/4 248 246 3/4 246 3/4 247 02Sep 246 1/2 247 1/2 245 245 02Dec 252 1/2 252 3/4 251 251 251 1/4 03Jul 03Dec 262 1/2 262 1/2 262 1/2 262 1/2 Month Opening High Low Closing Soybeans Month Opening High 469 469 1/2 OlSep OINov 474 475 1/4 470 02Jan 480 1/2 481 1/2 476 1/2 476 3/4 02Mar 483 483 1/2 483 02May 487 488 483 1/2 483 1/2 484 1/2 02Jul 488 490 485 1/2 486 1/2 486 482 n 484 n 487 02Aug 02Sep 02NOV 484 484 482 483 482 03Nov Month Opening High Low . Soybean Meal Month Opening High Low ' Closing 165.6 165.9 164.6 164.7 165.2 OlSep 164.5 165.1 163.7 164.1 164.2 OlOct 164.0 165.0 163.1 163.7 163.8 OlDec 163.8 164.7 163.2 163.5 02Jan 162,3 163.2 161.5 162.3 02Mar 160.0 160.5 159.3 159.5 02May 02Jul 158.5 159.0 157.5 157.6 157.0 157.5 156.2 156.0 b 156.2 a 02Aug 156.0 156.0 154.3 154.3 02Sep 155.0 155.0 152.5 153.0 152.5 02Oct 154.5 155.0 152.8 152.5 b 152.8 a 02Dec Month Opening High Low Closing Settle Net Chg Kt n Bailey I'enn State \nu M 2001 Bullet I’ntes I lead I lieher • ( Ml Grade A \ i Lai Ik s s 2 23/pound • Block cheese Widklll • I SI) \ annmiru es i la 11 (a it is (oadc \ \ butter puces at the ( Imago Mercantile I \ehange lumped (rum $2 1750 per pound on Mondav, Aug 27 to $2 2250 bv Wednesday, Aug 29 Butter prices remained unchanged on Fnda>, Aug 31. Cash butter prices are $1 above \ear ago levels Some in dustrv insiders are expecting Grade A A butter prices will reach $2.50 per pound sometime this fall. Others, however, arc expecting prices to ease once milk production rebounds later this fall While it is verv bard to pre- 230 Low 464 464 488 Weekly Dairy Market Outlook dut, V S butter prices will likch case sometime tins fall Retail butter pnces are now over $3 per pound Ihe Buieau of I abot statistics reported that U.S city average retail prices tor July wort $3 549 per pound. 31 pci eent higher than a \car ago USDA also reported this week that butter consumption for January through June of this year was down 3.7 percent rela tive to the same period a year ago. I his was likely due to the higher retail prices. butler prices \ugust Anothcr factor to consider is that butter imports have been growing this year, particularly from New' Zealand. Milk pro duction will seasonally peak in New Zealand in October- Nov ember Thus even more butter imports will be available to U.S. markets. Butter imports into the U.S. market are atti ac tive whenever domestic butter prices on the West Coast exceed $1.64 per pound. That is based on a high-tier tariff rate of $0 70 per pound, world butter prices of $0 65 per pound, and impoit 226 267 n Closing 470 470 1/2 477 505 n Closing Settle! Net Chg 165.0 164.2 163.8 163.5 162.3 159.5 157.6 156.2 154.3 152.8 152.8 Settle Net Chg 214 1/4' -30 -40 221 1/4 226 1/4 230 -34 -32 238' -34 242 3/4 247 -30 -26 -22 245 -22 251 1/4 267 -10 262 1/2 Settle Net Chg Settle Net Chg -90 464 470 1/4 477 -80 -80 -80 483 1/4 484 -76 486 1/4 482 -74 -80 484 -40 482 1/2 -34 505 Unch Settle Net Chg -16 -14 -16 - 16 Oats -14 Month Opening High Closing [ Settle Net Chg 01 Sep 144 3/4 144 3/4 144 144 1/4 b 1/4 -10 OlDec, 144 1/2 146 1/4 144 1/4; 146 146 1/4 j 146 1/4 ’ 02Mar 145 3/4 147 145 1/2! 147 b 02May 147 1/2 147 1/2 147 1/2 147 1/2 02Jui 145 1/2 145 1/2 145 1/2! 145 1/2 Month Opening High Low Closing -14 -14 -14 -13 -12 costs of about 3>o 09 pet pound Butter imports reportedly ate selling $0 20 per pound below Grade 4A domestically pio duced butter. Cheese puces at the Chicago Mercantile 1 xchange were mixed this week. Bairel puces held at $1 68 per pound all week. Block cheese prices, how ever, declined from $1 78 per pound on Monday to $1.72 pel pound Wednesday llumigh Friday. Prices have gencrallv been high for cheese because ot reduced milk supplies and lower solids levels this summer. Cheese consumption has been relative!) stead) the first half of the )car There are two factors that could cause lower cheese and butter prices the last quarter of the year. First is a return to normal milk production levels Cow numbers appear to be sta bilizing. An increase in produc tivity this fall because of cooler weather and improved forage could bring on more milk. The other factor is the economy The Lean Hogs Dail> Prices As oi Dale 09/06/0! 09/()()/() I 09/06/01 09/06/01 09/06/01 09/06/01 00/00/oi 09/06/01 09/06/01 Dtl 01 Dec 01 1 ch 02 \pi 02 Max 02 (mi 02 lui 02 \ ul: 02 Od 02 ( omposite Volume Open Int 09/OVOI 0278 4100 s Live Cattle Daily Pi 'ices As oi Date 09/06/01 (HVOfvO 1 09/06/01 09/( )6/0 I 09/06/01 09/06/0! 09/06/01 Ol! 01 Dll 01 1 ch 02 \|»i 02 Inn 02 \LIL2 02 Ou 02 Composite \ olume ()pen_lnt 09/05/01 10601 110085 Pork Bellies Daily Prices \s ol Fhutsday, 6 September Date 09/06/01 09/06/01 09/06/01 09/06/01 09/06/01 I ch 02 Mai 02 Mav 02 lul 02 Au» 02 C omposite Volume Open Int 09/05/01 663 2776 real gioss domestic product, or GDP. increased at an annual rate of 0.2 percent during the second quarter of 2001. That means the economy is barely growing. Economists are still trying to figure out whether we are in the middle of an economic recession. A slow growing IJ.S. economy will likclv translate into slower sales ot dairy prod ucts LSDA reported August 2001 class and component prices 1 he \ugust fcdeial ordei class pnec. with changes from the month before are Class II $15.98 per CWI (+so 02), Class 111 $15.55 (+50.09), and Class IV $15.06 (+50.25). I he product price av erages used in computing the class prices were butter $1.9990, nonfat dry milk $0.9473, cheese $1.6693, and dr) whey $0.2886. See Lancaster Farming Cow Cam Visit our Website at www.lancasterfarming.com 1 huisdii), () Soptcmhci Opt‘ll High Low Last C’hcc I>rev ‘ Volume 1 4401 40 4() 420 401 17 02 14 6050 5%5 0() iS + 4) '7 5050 5585 5057 mu h %07 5085 5(,45 5(,07 I S 5780 5800 5770 5782 625() 05()() 0250 0275 6557 6500 05 10 (,547 6515 05|5 0280 0515 6040 6080 6020 6080 5405 5465 5405 5452 i huisdav, 6 Scptcmhci Open High Low Last Chge 7 500 7 500 7230 72 57 /410 7450 7400 7405 7610 7615 7567 7770 7 ,70 7/55 7760 7 590 /410 7580 7400 7155 7460 7450 7147 7577 7577 /A4O 7550 Open High Low Last Chge 8460 8460 8325 5382 8430 8430 8305 8385 8640 8640 8640 8640 8712 8712 8712 8712 8485 8485 8485 8485 LOW [ t 2() Prev. Volume Open Jnt 5152 2687 III 4 : 6*6 582 106 17 Prev Volume 645 14 Open Int -88 -S5 -60 18 illicit 14/1 147 1/2 145 1/2 -14 Settle Net Chg Average Farm Feed Costs for Handy Reference Fo help farmers across the state to have hands reference ot eommoditv input costs in their feeding operations for DMI \ record sheets >t to develop livestock teed cost data here s last week s average costs of various mgred lents as tompiied from regional reports across the stale of Pcnnsvlvama Remember these art averages, so you will need to adjust your ligures up or down according to voui location and the qualttv of vour crop ( orn. No 2v 2 28 bu , 4 OK v\\ l Wheat. No 2 2 45 bu ,4 09 c\s t Barley. No * 1 37 bu , 2 94 lvM Oats. No 2—140 bu , 4 csvt Soybeans, No I—4 40 bu,7 34cwt bar Corn 61 87 ton, 3 09cwt Alfalfa Hay 112 SO ton 563 cwt Mixed Hay 108 75 ton, S 44 cwt Timothy Hay 117 50 ton, 5 88 cwt I*re> Open Int 2 1780 I iWS 4468 1787 >7l >6 I 16 S 2 7! Prev. 42506 26*26 21676 100' 7 2 66 4 I I Prev 2724 41 Unch
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