Al6-Lancaster Farming, Saturday, July 27, 2002 GRAIN, CATTLE. HOG, & MILK BFP FUTURES MARKETS Markets Courtesy of Chicago Board and Mercantile Exchange Closing Bids: Thursday, July 25, 2002 Com 07/24/02 07/25/02 07/25/02 07/25/02 07/25/02 07/25/02 07/25/02 07/25/02 07/25/02 07/25/02 07/25/02 *CASH* SEP 02 DEC 02 MAR 03 MAY 03 JUL 03 SEP 03 DEC 03 MAR 04 JUL 04 DEC 04 Total 07/24/02 Soybeans 07/24/02 07/25/02 07/25/02 07/25/02 07/25/02 07/25/02 07/25/02 07/25/02 07/25/02 07/25/02 07/25/02 *CASH* AUG 02 SEP 02 NOV 02 JAN 03 MAR 03 MAY 03 JUL 03 AUG 03 SEP 03 NOV 03 Total 07/24/02 Soybean Meal 07/24/02 07/25/02 07/25/02 07/25/02 07/25/02 07/25/02 07/25/02 07/25/02 07/25/02 07/25/02 07/25/02 07/25/02 07/25/02 *CASH* AUG 02 SEP 02 OCT 02 DEC 02 JAN 03 MAR 03 MAY 03 JUL 03 AUG 03 SEP 03 OCT 03 DEC 03 Total 07/24/02 Weekly Dairy Market Outlook Ken Bailey Penn State July 20,2002 Greetings From Calgary! • Issues facing Canada. • The drought. • Canadian dairy exports. This week’s report on dairy markets was updated from Cal gary, a very modern city in the western Canadian province of Al berta. I delivered a paper at an international dairy conference ex plaining U.S. dairy policy and market outlook. I also went to the world-fa mous Calgary Stampede. It’s one of the biggest Western rodeos in the world. I watched the chuck wagon races, ate breakfast at Mel's Place in the Agriculture Building, and, of course, spent time talking to Canadian farmers at the various displays. I learned a lot about canola. High 2502 2460 2564 2604 2632 2650 2524 2454 2504 2550 2434 Open 2454 2564 2590 2624 2650 2500 2446 2504 2550 2434 Volume Open_lnt 103704 480373 High 5775 5750 5500 5344 5344 5340 5310 5310 5260 5090 5070 Open 5750 5440 5310 5310 5320 5300 5300 5240 5090 5040 Volume Qpen_lnt 73999 235734 Open High 19150 1860 1785 1723 1710 1705 1688 1670 1670 1660 1655 1578 1605 1860 1785 1720 1710 1705 1688 1670 1665 1660 1655 1578 1605 Volume Open_lnt 33765 140874 And did you know that Alberta beef tastes better than beef from anywhere else in the world? After watching large chunks of beef smoking in a barbecue pit all day, I’d have to say I’m partial to it. The Alberta Dairy Board had a nice display there too, explaining what it takes to make milk. I had a chance to visit with Louis Balcaen during my stay in Canada. He is a dairy farmer and acting head of the Canadian Dairy Commission. We chatted during a long bus trip up the Ca nadian Rockies. We talked about the similarities and differences between U.S. and Canadian Ag riculture policies. From the Canadian perspec tive, there are two big issues that are affecting all Canadian farm ers. First, there is the drought. Canadian farmers are facing the worse drought in 13? years! It Last 2502 2442 2542 2586 2614 2640 2520 2440 2504 2550 2434 Low 2502 2410 2504 2552 2594 2616 2500 2430 2490 2550 2434 Last 5775 5676 5426 5246 5256 5252 5240 5230 5220 5090 4990 Low 5775 5630 5372 5190 5204 5204 5200 5194 5220 5090 4990 Last 19150 1823 1748 1684 1671 1664 1648 1636 1634 1620 1606 1578 1580 Low 19150 1808 1736 1666 1655 1650 1640 1620 1625 1620 1605 1578 1570 has affected a large area just north of the Trans-Canadian Highway that represents most of the breadbasket of Canada. Agriculture in these provinces is entirely dependent on rain since there is so little irrigation. Canadian fanners can make a lot of canola, rapeseed, wheat and hay, but only if it rains. Because of the drought, beef ranchers are without pasture and hay, and grain farmers are facing a very limited crop. Dairy farmers are affected too, since state-con trolled milk prices won’t increase because of the drought as they would in the U.S. The Canadian Government, along with the provincial govern ments, just released a farm aid package. Unfortunately, the plan has only limited dollars to work with. For many ranchers, the drought has forced them to liqui date about a third or more of their herds. It will take them years to rebuild. Lean Hogs Date 07/24/02 *CASH* 07/25/02 Aug 02 07/25/02 Oct 02 07/25/02 Dec 02 07/25/02 07/25/02 07/25/02 07/25/02 07/25/02 07/25/02 Chge + 66 -50 -50 -52 -50 -42 -10 -16 -14 -10 -4 Composite Volume Open_lnt 07/24/02 6043 29729 Live Cattle Date 07/24/02 *CASH* 0 630063006300 -72 07/25/02 Aug 02 6445 657064306495 +73 07/25/02 Oct 02 6685 682266806780 +lOB 07/25/02 Dec 02 6785 691067856887 +lO2 07/25/02 Feb 03 6885 702068856990 +9B 07/25/02 Apr 03 6980 707569807045 +75 07/25/02 Jun 03 6547 665565476605 +55 07/25/02 Aug 03 6600 667066006610 +3O Chge + 80 -162 -172 -192 -176 -160 -146 -140 -130 -80 -112 Composite Volume Open_lnt 07/24/02 14752 96766 Pork Bellies Previous Previous Date Open High Low Last Chge Vo|ume open 0 0 18 93 07/24/02 *CASH* 0 830083008300 07/25/02 Jul 02 7550 764073007340 07/25/02 Aug 02 7122 7265 6950 6965 07/25/02 Feb 03 6580 664065256582 07/25/02 Mar 03 6400 640064006400 07/25/02 May 03 6525 6525 6525 6525 Chge + 200 -55 -54 -60 -62 -56 -56 -51 -54 -55 -54 -47 -45 Composite Volume Open_lnt 07/24/02 619 1858 Oats 07/24/02 07/25/02 07/25/02 07/25/02 07/25/02 Total 07/24/02 ~ li i Previous Previous Open High Low Last Chge Vffllume openJnt 0 - 0 2576 8333 2547 12521 652 7294 0 536153615361 -30 4990 508749855070 +B5 4060 417540604165 +lO5 3860 399238573980 +lO3 4397 448543954477 4850 486048104832 5535 555255155552 5675 569556705695 5655 568056505680 5550 555054955520 Feb 03 Apr 03 May 03 Jun 03 Jul 03 Aug 03 „ WT* i x w Previous Previous Open High Low Last Chge Vo|ume ope „ 0 0 6041 24950 5773 38184 2147 20411 600 8244 140 3840 51 1125 0 12 Open *CASH* SEP 02 1736 DEC 02 1750 MAR 03 1754 MAY 03 1754 Volume Open_lnt 1409 10841 The other issue of concern to Canadian farmers is you guessed it! the U.S. Farm Bill. The concern is that a generous Farm Bill in the U.S. will depress world grain and oilseed prices, which will have a negative im pact on them. Many farmers in Canada are also questioning why farmers just across the border are getting so much more farm aid from their government than they do. One of the big questions I had was how the “export classes” worked in Canada. The Cana dian government has been vilified in the U.S. press for effectively subsidizing dairy exports in ex cess of their World Trade Organ ization (WTO) commitment. The U.S., along with New Zealand, has presented a case to the WTO, which they have won. However, it will likely be appealed. It is my understanding that (Turn to Page A2O) +lOO -200 -157 +42 unch unch High 1924 1766 1764 1764 1756 Low 1924 1730 1730 1746 1752 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. Corn, No.2y 2.51 bu., 4.49 cwt. Wheat, N 0.2 2.90 bu., 4.84 cwt. Barley, N 0.3 1.52 bu., 3.24 cwt. Oats, N 0.2 1.75 bu., 5.46 cwt. Soybeans, No. I 5.18 bu., 8.66 cwt. Ear Corn 69.88 ton, 3.49 cwt. Alfalfa Hay 95.00 ton, 4.75 cwt Mixed Hay 108.00 ton, 5.4 cwt. Timothy Hay 98.75 ton, 4.94 cwt. 1135 213 52 130 44 197 50 11 14*47* 311 5 2 503 95 1 2 Chge -80 -2 -30 -24 -32 Last 1924 1756 1740 1754 1752
Significant historical Pennsylvania newspapers