Al6-Lancaster Farming, Saturday, October 6,2001 GRAIN. CATTLE, HOG. & MILK BFP FUTURES MARKETS Markets Courtesy of Chicago Board and Mercantile Exchange Closing Bids: Thursday, Oct. 4. 2001 beans So Soybean Meal Weekly Dairy Market Outlook Ken Bailey Penn State Sept. 28, 2001 Butter Markets Weaken • Grade AA butter falls to $1.75. • Cheese prices still strong. • Demand weakens. • Outlook for 2002. The butter market weakened considerably this week. Grade AA butter price at the Chicago Mercantile Exchange fell from a high of $2.21 per pound the first week of September to $1.75 per pound by Friday, Sept. 28. USDA reports that a combina tion of high butter stocks and greater imparts are pressuring domestic prices. USDA’s Cold Storage report indicates that August butter stocks are 11 percent ahead of year ago. Given year-to-date butter production is down 7.8 percent, this can only mean that consumption, or commercial disappearance, is way down be cause of high wholesale and retail prices. In fact, USDA re ported today that commercial disappearance of butter during May July was down 5.8 percent relative to a year ago. And, the U.S. City average butter price in August was $3,616 per pound, 34.6 percent higher than a year ago. Butter imports have increased considerably so far this year. For the months of January through August, licensed butter imports (those subject to a lower tariff rate) totaled 13.1 million pounds. That compares to butter imports of 12.2 million pounds during the same period a year ago. Higher-tier butter imports, those above the quota, were 24.3 million pounds during January through August, up from 94,000 pounds the same period a year ago. Cheese prices at the Chicago Mercantile Exchange remained relatively stable this week. Block cheese prices fell a penny from $1.71 per pound on Monday, Sept. 24 to $1.70 by Friday, Sept. 28. Barrel cheese prices fell from $1.67 per pound on Monday to $1.64 by Friday. Cheese production and inven tory still remains well below year ago levels. However, com mercial disappearance ot Amer ican cheese during May-July was up 2.3 percent relative to a year ago, and other cheese com mercial disappearance was down 0.1 percent. Thus, demand has been sufficient enough to Unci Oats work down inventory. This de spite the fact that retail cheese prices have been higher than a year ago. The August U.S. city average retail price for natural cheese was $4.10 per pound, up 3.9 percent from a year ago. The market for nonfat dry milk remains steady. This is the third consecutive week that no surplus nonfat dry milk has been offered to the Commodity Credit Corporation. Western nonfat dry milk has been selling this week mostly in the range of $0.93-$0.96 per pound. USDA provided its latest 2002 forecasts of supply and demand for the U.S. dairy in dustry today. USDA is expect ing the milk supply in 2002 to grow 2.6 percent over 2001 levels. Cow numbers are ex pected to decline 0.6 percent and milk yield per cow is to grow 3.3 percent. At the same time, com mercial use is expected to grow just 1.7 percent on a milkfat basis. Much of this sluggish growth rate in consumption is attributa ble to a slowing national econ omy. Stocks are to recover somewhat from declines in 2001. Overall, the Class 111 price is forecast to be $11.25-$ 12.25 per CWT, and the Class IV price is to be $11.70-$ 12.80 per CWT. Both price forecasts are signifi cantly lower when compared to nrices this year. Lean Hogs Date 10/04/01 Oct 01 6000 6037 59706020 +23 10/04/01 Dec 01 5620 565755805627 +l5 10/04/01 Feb 02 5570 5605 55255592 +45 10/04/01 Apr 02 5630 5665 55955625 +3O 10/04/01 May 02 6110 613060956095 +l5 10/04/01 Jun 02 6320 634063006330 +l3 10/04/01 Jul 02 6070 608060706070 +2O 10/04/01 Aug 02 5962 598059625962 +2O 10/04/01 Oct 02 5335 5355 5335 5335 unch Composite Volume Open_lnt 10/03/01 11731 45370 Live Cattle Date 10/04/01 Oct 01 6715 680067156787 +125 10/04/01 Dec 01 6840 694768306942 +145 10/04/01 Feb 02 7100 721271007200 +l3B 10/04/01 Apr 02 7335 74377325 7425 +135 10/04/01 Jun 02 6975 705269757042 +97 10/04/01 Aug 02 7065 713270657125 +B3 10/04/01 Oct 02 7350 735573007355 +75 Composite Volume Openjnt 10/03/01 23437 113575 Pork Bellies Date 10/04/01 Feb 02 7615 768076007637 +42 10/04/01 Mar 02 7560 765575507560 +3O 10/04/01 May 02 7845 784578457845 +55 10/04/01 Jul 02 7630 779076307630 unch 10/04/01 Aug 02 7690 769076907690 +9O Composite Volume Openjnt 10/03/01 -711 2176 Indiana Livestock Homer City, Pa. Thursday, October 4,2001 Report Supplied By Auction CATTLE: 48. COWS: STEADY TO 3.00 LOWER. HEIFERS. SELECT 1-3 61.00-62.25. STANDARD 1-2 55.00, 58 75 HEIFERS' FEW CHOICE 2-4 1095/1535 LBS. 64.25,66.25. SELEC 1 1- 3 57 00, 61.25. STANDARD 1-2 47.00, 53.25. COWS. BREAKERS 75-80% LEAN 39.00, 44.50. BONERS 80-85% LEAN 35.25, 40.00, LEAN 85-90% LEAN 31.00, 36.00, SHELLS DOWN TO 31.75 & DOWN. BULLS; YIELD GRADE 1 1456 IBS ONF AT 53 00 YIELD GRADE 2 1046 LBS. ONE AT 38.75. HEIFERS: FEW M&L-2 745/760, 55.00, 62.00, CALVES- 70 STANDARD & GOOD 90/115 LBS 35.00, 55.00. STANDARD 6 GOOD 65/85 LBS. 30.00, 47.50. UTILITY 45/70 LBS. 15.00, 25 00. FARM CALVES; HOLSTEIN BULLS STEADY TO 40.00 LOWER. NO. 1 90/125 LBS. 75.00, 102.00. NO. 2 80/110 LBS 52.50, 75.00. HOLSTEIN HEIF ERS- NO. 1 82 & 122 LBS. 410.00, COUPLE 410.00 & 460.00. NO, 2 84 & 92 LBS. COUPLE 100.00 & 150.00. BEEF TYPE BULLS & HEIFERS 80/100 LBS 97.50,150.00. HOGS 19 BARROW & GILTS 45- 50% 270/330 LB 43 00. 45 50. 40-45% 240/275 LB 32 00, 37 50 1 LLDLR PIGS 25 2-3 20/30 LBS 7 50-14 00 SHEEP 18 SLAUGHTER LAMBS CH 45 LBS. ONE AT 85.00. FEEDER Open High Low LaslChge P ™ iom Pilous 6 Volume Openjnt 3845 11579 6161 24656 1498 5224 173 2310 2 541 582 215 113 150 ... , . T .... Previous Previous Open High Low Last Chge ~ , „ _ r & Volume Open_lnt 5356 15142 9357 46224 3747 25510 3059 11907 1625 12677 272 1874 21 241 Open High Low Last Chge P ™ ious Previ “ us Volume Openjnt 700 2015 11 95 0 43 0 20 0 3 LAMBS GD & CH 30/75 LBS. 50.00, 70.00. SLAUGHTER SHEEP: 28.00, 46.00. Pennsylvania Livestock Auction Wayncsburg, Pa. Thursday, October 4.2001 Report Supplied By Auction Cattle: STOCK COWS: 40 00-51.00. SLAUGHTER COWS: Utility & Com mercial 38.00-42.00; Canner & Boning Utility 37.00-40.00; Cutter & Boning Utility 31.00 37.00; Canner & Low Cutter 31.50-37.00; Shells 35.00 & down. BULLS: YIELD GRADE 1 1500#- 2000# 41.50-52.00; YIELD GRADE 2 1000#-1400# Fat 43.00-58.00. FEEDER STEERS: M & L 1 300-500# 7s 00-100 00, 250-280# 80 00-100 00, M 600-900# 60.00-85.00 HEIFERS M 1 & L 1 300-500# 84.00- 90.00; L 1400-650# 70.00-88.00. BULLS M & L 1 300-620# 85.00- 108.00. CALVES: Veal Prime 85 00-103.00; Choice 55.00-97.00; Good 35,00-70.00; Farm Calves #1 Holstein Bulls 90-120# Few 35.00-100.00; #2 Holstein Bulls 80- 100# Few 10.00-50.00; Beef Bull & Hfrs./HD. 50.00-140.00. HOGS: Barrows & Gilts #l-2 210- 255# 46.00-61 00; #2-3 255-280# 40.00- 55 00, Sows #l-3 300-500# 31.00-50 00, Feeder Pigs; 1-3 15-20# 5.00-17.00/HD. 1-3 25-35# 10.00-41.00/HD. LAMBS: High Choice 80-100# 40.00- 57 00, Choice 40-75# 50.00-80.00; Feeder Lambs Good 50.00-75.00; Sheep 15.00- 41.00; Fat Sheep 39.00 and down. HORSES: Horses 25.00-54.50; Ponies 20 00-50.00.
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