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