Al6-Lancaster Fanning, Saturday, November 10,2001 Markets Courtesy of Chicago Board and Mercantile Exchange Closing Bids: Thursday, Nov. 8,2001 Com Soybeans Mp«W;'chi r *i»|na IOJNov mmr 452|452 1/2 (44L 455 1/2(456 1/2(449 l/2f 451 1/2 wr 4421 _ 444 444 1/41436 1/2 447 l/2f 454' , oHi " ■O>«PV 458 H Hit Soybean Meal Month Opening High] lliftM 162.2 162.3 158.7 158.8 [ 159.0 wsp ‘ ABET nr 158.3 154.7 151.2 150.9 MM 1503 fflßffljgj 149.5 OBS I4B - 5 USUI WMd Weekly Dairy Market Outlook Ken Bailey Penn State November 2,2001 Class 111, IV Prices Weakening • October Class 111 is $14.60/ CWT. • October Class IV is $12.77. • Cheese prices continue to weaken. • DEIP program announced. As expected, Class 111 and IV prices announced by USDA today are below month-ago levels. The Class 111 price for Octobei 2001 is $14.60 per CWT, down from $15.90 per CWT the month before. The Class IV price for October 2001 was $12.77 per CWT, down from $15.59 per CWT the month before. The reason for this decline was a drop in the monthly aver- GRAIN. CATTLE, HOG, &MILKBFP FUTURES MARKETS 201 3/4 206 3/4 214 1/4 221 3/4 228 234 243 251 1/2 | 256 p"* 442 434 1/2 441 4481 1/2 450 4541 T 458 r 452 glgg 155.9 155.7 158.8 154.8| 152.2 152.2 149.7 149.3 151.3 149.5 149.8 149.4 151.2 149.2 148.8 150.3 age NASS (National Agricul tural Statistics Service) survey prices for cheese and butter. The NASS survey average price for cheese in October was $1.5591 per pound, down from $1.7085 per pound in September. And the NASS survey average price of butter in October was $1.4701 per pound, down from $2.1198 the month before. Dairy farmers should be pre pared to see a drop of $1.30-$2 per CWT in the October mail box milk prices they receive on November 15. The bigger drop, however, will be the November milk check. With Chicago butter prices trading at about $1.25- $1.28 per pound and block cheese prices about $1.20-$1.25 per pound, November Class 111 and IV prices will take a sizeable drop. The Chicago Mercantile Ex change futures market is look- 200 n 203 202 3 / 4 202 1/2 j 207 1/4 j 215 215 1/2 222 3/4 222 1/2 228 3/4 [228 1/2 228 1/2 234 1/4 243 1/2 243 3/4 251 3/4 257 n 256 | 256 435 [434 3/4 434 1/2 437 1/4 438 442 1/2 442 446 1/2 447 451 450 [448 1/2 n 453 452 493 n 158.9 155.9 155.8 152.3 152.4 149.6 149.5 149.7 149.2 ing for a November Class 111 today. The annual allocation of price of $ll per CWT and a 68,201 metric tons for nonfat Class IV price of about $12.20 dry milk will be the same as a per CWT. Dairy farmers will year ago. This will create some receive their November milk activity by moving nonfat dry checks about December 15. milk into overseas markets. After rallying from a low of Western nonfat dry milk prices $1.16 per pound the week before were $0.92-$0.94 per pound this to $1.2475 this Monday, Oct. 29, week and some 89,066 pounds block cheese prices at the Chi- was offered to the CCC under cago Mercantile Exchange fell the dairy price support program, back to $1.2050 per pound by It is unclear, however, what Friday, Nov. 2. USDA reports impact the DEIP program will that the cheese market is “un- have on domestic prices for settled to weak.” Demand for nonfat dry milk. Remember, cheese from the airlines, hotels, nonfat dry milk prices are no and travel segments is obviously longer supported at $l.Ol per weak, but that was offset some- pound. Milk protein concentrate what by holiday buying. (MFC) imports this year were The butter markets were also down, world prices were high, volatile, ending the week at and domestic use of nonfat dry $1.2875 per pound. USDA re- milk is way up. ports that although churning ac- However, there are reports tivity is up, demand for butter that world prices for nonfat dry for holiday promotions appears milk are starting to decline. This B°°d. could result in higher imports of Finally, there is some good MFCs in 2002, which could news. USDA announced that offset the price enhancing the Dairy Export Incentive Pro- impact of the DEIP program on gram, or DEIP, is activated domestic prices for nonfat dry + 12 200 + 2 207 1/41 + 2 215 1/4 + 2 222 1/2 + 2 Unch 234 1/4 Unch 243 1/2 Unch 251 3/4 257 -10 J.A-. -42 437 3/4 -34 442 1/4 -26 446 3/4 -22 451 1/4 -22 450 -30 448 1/2 -40 452 1/2 -34 493 -30 -30 -22 Oats -19 -10 Lean Hogs Date Dec 01 5100 514550655132 +52 Feb 02 5365 5425 5350 5415 +45 Apr 02 5510 5585 55105572 +62 May 02 6135 617561356150 +3O Jun 02 6265 6295 62356250 +25 Jul 02 6070 612060706102 +25 Aug 02 5950 602059506005 +25 Oct 02 5330 534053305340 +2O Dec 02 5105 511051055105 unch 11/08/01 11/08/01 11/08/01 11/08/01 11/08/01 11/08/01 11/08/01 11/08/01 11/08/01 Composite VolumeOpenjnt 11/07/01 7572 30287 Live Cattle Date 11/08/01 Dec 01 6535 655064526475 11/08/01 Feb 02 6875 689267806815 11/08/01 Apr 02 7092 709269807025 11/08/01 Jun 02 6700 670066156655 11/08/01 Aug 02 6675 66806605 6625 11/08/01 Oct 02 6830 683267656780 11/08/01 Dec 02 6995 699569206950 Composite Volume Open_lnt 11/07/01 18050 110099 Pork Bellies Date 11/08/01 Feb 02 7170 735271707340 +143 11/08/01 Maro2 7175 730071757275 +145 11/08/01 May 02 7425 743074257425 +l4O 11/08/01 Jul 02 7375 738073757375 +135 11/08/01 Aug 02 7400 740074007400 +l4O Composite Volume Openjnt 11/07/01 726 2227 ~ ... ~ ¥ A Previous Previous Open High l.ow Last Chge Volume open 4732 18130 2309 7114 473 3280 0 0 38 882 7 419 8 216 5 242 0 4 ... . , r .... Previous Previous Open High Low Last Chge Vo|unle op en , nt 8265 40706 5594 31567 2945 19203 1038 14523 172 3289 33 728 3 83 1., li w ~,, Previous Previous Open H.gh Low Last Chge Vohlme ope „ 692 1860 22 233 9 97 3 31 0 6 milk. The bottom line is, we could see nonfat dry milk prices fall to the CCC purchase price of $0.90 per CWT under this scenario in 2002. 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. Corn, No.2y 2.22 bu., 3.97 cwt. Wheat, N 0,2 2.58 bu., 4.31 cwt. Barley, N 0.3 —1.52 bu., 3.25 cwt. Oats, N 0.2 1.50 bu,, 4.69 cwt. Soybeans, No.l 3.93 bu., 6.56 cwt. Ear Corn 60.05 ton, 3.00 cwt. Alfalfa Hay 118.00 ton, 5.9 cwt. Mixed Hay —108.75 ton, 5.44 cwt. Timothy Hay —114.25 ton, 5.71 cwt.
Significant historical Pennsylvania newspapers