Al6-Lancaster Farming, Saturday, May 4, 2002 GRAIN, CATTLE, HOG, & MILK BFP FUTURES MARKETS Markets Courtesy of Chicago Board and Mercantile Exchange Closing Bids: Thursday, May 2, 2002 Com 195 jl 97 1/ 2 jj.94 1/4 mmr 203 gagr ifegS: 210 [2lO 3/4 219 3/4 216 3/4 229[229 3/4 225 3/4 SBSSS MS 235 239 1/2 a3Pg1239 1/2 «SH3E nr: [I 246)246 3/4 1 IfU p c.l UI) d Uil yIUHRI Soybeans 457 Na 461 465 465 1/2 l/2 467 mm Soybean Meal 161.0|161.3[158.8f 159.2 [¥59.6 [159.1 158 156 154 150 149 149 149 150 150 from $1.2325-$1.2550 per pound cember. The outlook for Class IV this week. prices is reflecting a depressed Butter prices at the Chicago outlook for butter prices, and an- Ken Bailey This information has impor- Mercantile Exchange were gener- ticipation of a lower support Penn State tant implications for the U.S. ally weak, as expected. Grade AA price for nonfat dry milk. That April 27,2002 dairy industry. A growing econo- butter prices fell from $1.1725 said, there may still be opportuni- Economy Surges Ahead During my means more business travel, P er pound earlier this week to ties to lock in favorable futures First Quarter people going on vacations, and $l-12 b y Friday. USDA reports prices for both Class 111 and IV. • U.S. economy grew 5.8 per- families eating out. Mom' and that butter production is season- There are rumors circulating cent January-March. D a( j are more apt to eat fast food ohy heavy, cream supplies are that the House and Senate Agri • U.S. past a mild recession. during the busy workweek and readily available, and ice cream cultural Conference Committee • Cheese prices holding treat t jj e to pizza 0 „ t he production has not yet kicked in. has struck a tentative “deal” to steady. wwkenrfs if hnth have inh« A rp. In addition, given high inventory have a national dairy countercy- The Department of Commerce h ’ verv _ pw „ levels, one should expect butter clical program that will provide a announced this week that the fth Hairv t | it prices to be low during the early monthly payment to dairy farm- U.S. economy grew at a rate of lt • Jl . Hairv nmri spring months. Look for butter ers equal to 45 percent of the pos -5.8 percent during the first quar- . n . nrnHlirt nrir Li av prices to pick up a few cents after itive difference between $16.94 ter of 2002. This “advanced” esti- ucts. proaucr pnces toaay cream production increases and the Boston Class I price, mate of the Gross Domestic are dependent on retail and food- and summer heat sets in. Farmers shipping 2.4 million Product (GDP) is a measure of ser vice sales. . Despite the greater availability pounds of milk per year, or less, the output of goods and services Despite a spring flush that is 0 f milk this spring, the futures will qualify for 100 percent of this in the U.S. resulting m excess loads of milk market is still expecting Class 111 payment. The Wall Street Journal re- * n the marketplace, cheese de- prices to rise from $10.85 per Note: I will be traveling over ported last week that this release mand remained fairly stable this CWT in April to $13.17 per seas the next few weeks, doing was significant for two reasons, week. Prices at the Chicago Mer- CWT by September. This reflects volunteer work in Yugoslavia for First, it means we are out of the cantile Exchange held fairly a fairly neutral seasonal pattern. VOCA (Volunteers in Overseas recession that began a year ago. steady and barrels fell slightly Class IV futures prices are ex- Cooperative Assistance). Second, the downturn in the U.S. from $1.23 per pound on Mon- pected to be much less enthusias- Therefore, my weekly dairy mar economy will probably go down day, April 22 to $1.2125 by Fri- tic, ranging from $11.15 per ket report will be available again as Mie mildestionrecord, day,-April 26. Blocks ranged—CWT-for April 4&-SLL4B- by -on-May I7i See you (Mm! o Weekly Dairy Market Outlook 200 1/4 207 204 220 3/4 230 1/2 235 235 3/4 239 1/2 236 1/2 239 3/4 245 461 460 465 466 1/2 158.7 1 156 - 3 ■0 156.2j154.5| 155.0 | 154.8 ]154.~9| -7 JBUi 194 1/4 1194 1/2 [194 1/2 200 1/4 200 1/2 207 1207 1/4 [207 1/4 217 216 3/4 225 3/4 230 3/4 235 3/4 234 b 237 236 3/4 243 3/4 n 247 1/4 n 245 1/4 464 461 455 1/4 454 1/2 455 460 1/2 460 1/4 460 465 1/2 465 467 156.8 156.7 mi -20 200 1/2 -24 -26 217 -26 225 3/4 -30 230 3/4 -26 235 3/4 -30 234 -16 237 -22 243 3/4 -24 247 1/4 -14 245 1/4 -10 63 3/4 i6O 3/4 -12 455 1/4 -12 454 3/4 -12 465 1/4 -12 467 -14 -14 70 1 -17 156.8 -13 Lean Hogs Date 05/01/02 *CASH* 0 440444044404 -263 05/02/02 May 02 4490 462544904605 +125 05/02/02 Jun 02 5240 537752405327 +125 05/02/02 Jul 02 5300 543553005387 +ll2 05/02/02 Augo2 5180 525551505177 -3 05/02/02 Oct 02 4320 436542904327 +7 05/02/02 Dec 02 4050411040404050 +l5 05/02/02 Feb 03 4340435043254325 +2O Composite Volume Openjnt 05/01/02 7826 32004 Live Cattle Date 05/01/02 *CASH* 05/02/02 Jun 02 6315 6345 6195 6225 Aug 02 6335 638262406287 Oct 02 6625 665765406587 Dec 02 6760681066906735 Feb 03 6840 687067906832 Apr 03 6950 699569056945 05/02/02 05/02/02 05/02/02 05/02/02 05/02/02 Composite Volume Openjnt 05/01/02 12394 94871 Pork Bellies Date 05/01/02 *CASH* 0 650065006500 unch 05/02/02 May 02 6700 679066706785 +l7O 05/02/02 Jul 02 6780 69006765 6892 +167 05/02/02 Aug 02 6760 689067606800 +lOB 05/02/02 Febo3 6600660065756575+120 05/02/02 Mar 03 6580 658065806580 +l4O Composite Volume Open_lnt 05/01/02 843 3389 Oats „ . , , . Previous Previous Open High Low Last Chge Vo lume Openjnt 0 0 808 2488 5030 17688 1381 4093 369 2704 141 2368 69 2236 28 427 ~ U- ui t Previous Previous Open High Low Last Chge Vo|umeopen , nt 0 0 6874 37085 2384 20921 2142 23565 834 9733 131 2409 20 1078 0 635063506350 unch -97 -65 -45 -50 -33 -35 x*. u ¥ ¥ /-.l Previous Previous Open High Low Last Chge Vo|umeopen Int 0 0 285 1064 543 1871 12 444 2 8 1 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 re cord sheets or to develop livestock feed cost data, here’s last week’s average costs of various ingredients as compiled from regional reports across the state of Penn sylvania. 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, No.2y 2.31 bu., 4.14 cwt. Wheat, N 0.2 2.61 bu., 4.35 cwt. Barley, N 0.3 1.85 bu., 3.95 cwt. Oats, N 0.2 1.91 bu., 5.% cwt. Soybeans, No.l 4.34 bu., 7.25 cwt. Ear Corn 66.49 ton, 3.32 cwt. Alfalfa Hay 142.75 ton, 7.14 cwt. Mixed Hay 131.25 ton, 6.56 cwt. Timothy Hay 121.25 ton, 6.06 cwt. 'J \ . 0 n.l n 9 I 1| 9 «, 1 9 /. 1
Significant historical Pennsylvania newspapers