GRAIN, CATTLE, HOG. & MILK BFP FUTURES MARKETS Markets Courtesy of Chicago Board and Mercantile Exchange Closing Bids: Thursday, May 9, 2002 Com 199 3/4 r f -a»aB 20S 3/ 4 l/4 Lola 222 frjSjgifcoS 3/4 [o'3Ma7} 230 1/2 231 3/4 229 3/4 230 230 1/4 230 +4 [o|Mjf|23s 1/2 236 234 1/4 234 3/4 235 234 3/4 +6 r 239 3/4|237 3/4| 239 239] +6 leans Soybean Meal 162.0 159.8 ebbs 157.4 155.3 154.5 oflS 152.2 'oTm^ 152.4 152.0 ®mH 152.5 A 152.0 !W^' 152.0 Qct East Fluid Milk And Cream Review Madison, Wis. May 8,2002 Report Supplied by USDA Spot prices of class II cream, dollars per lb. butterfat: F. 0.8. producing plants: Northeast: 1.2920-1.4320 Delivered Equivalent; Atlanta: 1.3028-1.4212 mostly 1.3351-1.3459. PRICES OF CONDENSED SKIM, dollars per lb. wet solids, F. 0.8. produc ing plants: Northeast; Class 11, includes monthly formula prices: .9550-1.0250; Class 111 - spot prices - .7500-.9600. SPOT SHIPMENTS OF GRADE A MILK: FLORIDA: This week - In 0, Out Some markets not available because of the holiday 201 199 204 3/4 207 214 211 3/4 221 1/2 223 3/4 162 63.6 161.0 159. 157.3 158.8 155.2 156.7 153.9 155.0 152.2 154.8 152.4 154.7 152.0 153.7 152.0 153.0 85; last week - In 0, Out 138; last year - In 0, Out 176. SOUTHEAST STATES: This week - In 0, Out 0; last week - In 0, Out 0; last year - In 0, Out 0. The following are the April 2002 Class and component prices under the Federal Milk Order pricing system: Class II $ll.BB (down $0.31 from March), Class 111 $10.85 (up $0.20); and Class IV $11.09 (down $0.33). The following are product price averages used in computing Class prices: butter $1.1720, NDM $0.8975, cheese $1.2323, and dry whey $0.1948. The Class II butterfat price is $1.2960 and the Class 111/IV butterfat price is $1.2890. Milk production is holding about steady in the Northeast. Some increases are being reported, but gains are rather small as the weather patterns have been cooler than expected for May. In Florida, hot weather has returned and the milk flow is starting to drop off. Florida’s fluid milk supplies are still long, but in better balance. The volumes leaving the state 200 1/2 200 205 1/4 205 3/4 212 1/4 212 1/2 221 3/4 222 160.0 159.8 158.0 156.4 156.2 154.3 154.5 154.3 154.4 1154.3 154.4 153.0 152.0 200 1/4 + 16 205 1/2 + 10 212 1/4 + 6 221 3/4 +4 Unch +3 159.9 158.0 +6 156.3 + 11 + 14 154.4 + 20 + 21 154.4 153.0 + 15 152.0 + 15 have decreased significantly since last week. Bottled milk sales remain slow, but scattered features have boosted demand in some locales. More colleges are recess ing for the school year, which does impact bottling schedules. In the Southeast, schools will start recessing in a week or two and bottlers and manufacturers are preparing for this change in operating schedules. Currently, manufacturing plants are not as busy as they have been, but North eastern operations are still pretty hill since the strike at a large milk-user’s plant is still unsettled. (Contacts feel that this strike could be a long one.) South eastern plants have more “down time” now that Florida isn't shipping as much milk and local milk production is starting to ease lower. The condensed skim market is mixed and prices are unchanged. However, esti mates of April’s skim milk prices have some producers thinking that wet solids prices need to move a little higher. Buy Lean Hogs Date 05/08/02 *CASH* 0 448144814481 05/09/02 May 02 4570 462545604580 05/09/02 Jun 02 5270 5295 5242 5272 Jul 02 5390 542553705417 +6O Augo2 5170 521551625177 +l7 Oct 02 4270432742704312 +l2 Dec 02 4000 4035 39904005 -5 Feb 03 4255 425542354235 unch 05/09/02 05/09/02 05/09/02 05/09/02 05/09/02 Composite Volume Open_lnt 05/08/02 8620 31877 Live Cattle Date 05/08/02 *CASH* 0 680068006800 +298 05/09/02 Jun 02 6355 636562706272 -93 -65 -42 -40 -50 -30 Aug 02 6385 638563106330 Oct 02 6655 666065926610 Dec 02 6785 678767376752 Feb 03 6870 687068076820 Apr 03 6977 698069156970 05/09/02 05/09/02 05/09/02 05/09/02 05/09/02 Composite Volume Open_lnt 05/08/02 24700 97437 Pork Bellies Date Open High Low Last Chge Volumeopen Int 05/08/02 *CASH* 0 585058505850 unch 05/09/02 May 02 6140 625061406250 +ll5 Jul 02 6230 634562306280 +6O Aug 02 6230 632562256235 +23 Feb 03 6505 6505 6505 6505 -20 Mar 03 6550 655065506550 unch May 03 6430 643064306430 -70 05/09/02 05/09/02 05/09/02 05/09/02 05/09/02 Composite Volume Open_lnt 05/08/02 981 3308 Oats ers, however, don’t share that view, par ticularly when so much inexpensive NDM is available. Some spot sales for Class II condensed skim were noted this week, which may indicate an improving need from ice cream makers. The fluid cream market is still weak and supplies are excessive of current Class II needs. Volumes are reported as long, but not quite as burdensome as they have been. Some improved spot demand from ice cream makers was noted, but not up to levels that many suppliers expect for May. Spot prices are generally lower as the butter average price at the CME dropped nearly eight cents last week. Some spot buyers want to purchase based on current market levels. Sour cream and cream cheese output is about steady. However with prices as low as they are, some users are looking to step up produc tion. Bottled cream production and sales are starting to increase as strawberries are showing in the retail stores. Churning ac tivity remains moderate to heavy. ~ tt* ■ t T Previous Previous OpenH.gh Low Last Chge Volumeopen Int 0 0 687 1753 4863 15733 it- u r t Previous Previous Open H.gh Low Last Chge Vo|umeopen In , 0 0 13271 35612 6972 23127 2997 24780 1043 10041 300 2622 116 1255 +5O +4O +27 2225 438 136 255 16 Previous Previous 0 98 789 92 Average Farm Feed Costs for Handy Reference To help fanners 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 2.32 bu., 4.15 cwt. Wheat, N 0.2 2.58 bu., 4.31 cwt. Barley, N 0.3 —1.86 bu., 3.98 cwt. Oats, N 0.2 1.93 bu., 6.03 cwt. Soybeans, No.l 4.34 bu., 7.24 cwt. Ear Com 67.30 ton, 3.37 cwt Alfalfa Hay —134.75 ton, 6.74 cwt. Mixed Hay —136.25 ton, 6.81 cwt 5758 3192 2558 2438 444 0 83 2661 553 10
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