Al6-Lancaster Farming, Saturday, September 21,2002
GRAIN, CATTLE, HOG,
& MILK BFP
FUTURES MARKETS
Markets Courtesy of Chicago Board and Mercantile Exchange
Closing Bids: Thursday, September 19, 2002
Com
Symbo 1: C
*CASH*
DEC 02
MAR 03
MAY 03
JUL 03
SEP 03
DEC 03
MAR 04
JUL 04
DEC 04
09/18/02
09/19/02
09/19/02
09/19/02
09/19/02
09/19/02
09/19/02
09/19/02
09/19/02
09/19/02
Total
09/18/02
Soybeans
Symbol:S
09/18/02
09/19/02
09/19/02
09/19/02
09/19/02
09/19/02
09/19/02
09/19/02
09/19/02
09/19/02
09/19/02
*CASH*
NOV 02
JAN 03
MAR 03
MAY 03
JUL 03
AUG 03
SEP 03
NOV 03
JAN 04
NOV 04
Total
09/18/02
Soybean Meal
Symbol:SM
*CASH*
OCT 02
DEC 02
JAN 03
MAR 03
MAY 03
JUL 03
AUG 03
SEP 03
OCT 03
DEC 03
DEC 04
09/18/02
09/19/02
09/19/02
09/19/02
09/19/02
09/19/02
09/19/02
09/19/02
09/19/02
09/19/02
09/19/02
09/19/02
Total
09/18/02
Sept. 13,2002
MARKETS NEUTRAL
• Prices at CME steady; more
news to come next week.
• Futures markets look ugly.
• International markets weak
also.
Cheese and butter markets in
Chicago were relatively stable
this week. Cheese ended the
High
2724
2710
2774
2806
2806
2670
2560
2600
2600
2400
Open
2710
2772
2806
2804
2652
2536
2582
2590
2384
Volume Open_lnt
81933 511308
High
5656
5750
5776
5784
5760
5774
5640
5450
5284
5290
5000
Open
5732
5770
5780
5760
5774
5640
5450
5282
5290
5000
Volume Open_lnt
44635 203857
High
18800
1855
Open
1852
1858
1855
1845
1820
1825
1785
1740
1651
1650
1580
1858
1855
1845
1820
1825
1785
1740
1651
1650
1580
Vo lime Qpen_lnt
21546 137792
week just under support price
levels. Barrels fell 2.23 cents per
pound this week, and blocks fell
1.84 cents per pound. Butter
markets were also weak, but re
mained steady at $0.9333 per
pound.
The market is anticipating two
very important reports that are
dnc out next week. The milk pro, .
Last
2724
2665
2736
2774
2774
2640
2544
2594
2600
2394
Low
2724
2664
2734
2772
2774
2640
2532
2582
2590
2384
Last
5656
5640
5674
5692
5676
5674
5614
5410
5232
5270
4980
Low
5656
5630
5666
5684
5670
5670
5600
5410
5226
5270
4980
Last
18800
1821
1821
1821
1816
1801
1798
1774
1728
1651
1635
1580
Low
18800
1810
1811
1811
1803
1796
1795
1770
1728
1651
1635
1580
duction report will come out on
Tuesday, Sept. 17. Of particular
interest will be whether cow
numbers in August grew, stabi
lized, or fell in relation to July
numbers. While cow numbers
have been growing since April, I
am expecting (hoping) they will
level off.
The other big report to come
out will be cold storage, which is
due Friday, Sept. 20. This report
measures stocks of butter and
cheese. It also implies what con
sumption has done. I’ll be look
ing to see whether or not con
sumption of dairy products is on
the mend.
The futures markets do not
look promising for dairy profita
bility. The Class 111 futures as of
Sept. 13 are expected to rise from
$9.81 per CWT in September to
just $lO.BO per CWT by Decem
ber. Class IV futures are relative
ly flat, rising from $10.40 per
Lean Hogs
Date
09/18/02 *CASH*
09/19/02 Oct 02
09/19/02 Dec 02
09/19/02 Feb 03
09/19/02 Apr 03
09/19/02 May 03
09/19/02 Jun 03
09/19/02 Jul 03
09/19/02 Aug 03
09/19/02 Oct 03
Chge
-40
-56
-54
-46
-42
-20
+2
+2
unch
+ 12
Composite Volume Open_lnt
09/18/02 8316 36555
Live Cattle
Date
09/18/02 *CASH* 0 660066006600 +2OO
09/19/02 Oct 02 6977 700069506977 +5
09/19/02
09/19/02
09/19/02
09/19/02
09/19/02
09/19/02
Chge
-12
-80
-84
-76
-74
-72
-60
-50
-40
-30
-50
Composite Volume Open_lnt
09/18/02 17029 117928
Pork Bellies Previous Previous
Date Open High Low Last Chge Vo|ume open Jnt
0 0
219 1098
0 34
5 22
0 15
0 5
09/18/02 *CASH* 0 580058005800
09/19/02 Feb 03 6990 710069407017
09/19/02 Mar 03 7010 702069206950
09/19/02 May 03 7135 713570707070
09/19/02 Jul 03 7030 703070307030
09/19/02 Aug 03 6945 694569456945
Chge
+ 150
-23
-25
-23
-22
-23
-23
-17
-19
-22
-30
Composite Volume Open_lnt
09/18/02 224 1174
Oats
Symbol:O
09/18/02
09/19/02
09/19/02
09/19/02
09/19/02
Total
09/18/02
II-.u i i Previous Previous
Open High Low Last Chge ... ~
Volume Open_lnt
0 0
3950 9761
3616 19681
582 4225
111 1255
7 527
22 777
21 208
2 97
24
0 396339633963
3760 376036423725
3900 392037553835
4510 455544304510
5100 511550455085
5885 588758505875
6080 609560506072
5915 596059105920
5750 578057205725
5260 529052455260
i-k »• ui w ,Previous Previous
Open High Low Last Chge Vo|umeopen
0 0
6847 31732
Dec 02 7240 725071857235 +3
Feb 03 7307 734272907320 +8
Apr 03 7320 735073007347 +2O
Jun 03 6890 692068776917 +l5
Aug 03 6920 694068926940 +5
Oct 03 7005 705070007020 unch
Open
*CASH*
DEC 02 2042
MAR 03 2004
MAY 03 1960
JUL 03 1890
Volume Qpen_lnt
814 9791
CWT in September to $10.55 by
December. And grain futures
show feed prices will rise over the
next few months.
December com futures at the
Chicago Board of Trade rose
from $2.40 per bushel in July to
$2.90 in recent days. Likewise,
January 2003 soybean meal fu
tures rose from $l7O per ton in
July to more than $lB5 per ton in
recent days.
In other news, Australia and
New Zealand are entering a new
milk producing season. Moisture
is lacking in Australia. That said,
overall output is running 5 per
cent ahead of a year ago. USDA
reports that butter prices in that
part of the world are steady to
Arm, holding at 46.5 cents per
pound. Skim milk powder, other
wise know as nonfat dry milk in
the U.S., is also unchanged at
55.6 cents per pound.
+5O
+75
+4O
+5B
+35
+3
+lO
+lO
+lO
+lO
High
2186
2044
2010
1960
1890
Low
2186
2022
1982
1960
1890
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 3.06 bu., 5.48 cwt
Wheat, N 0.2 3.62 bu., 6.05 cwt.
Barley, N 0.3 1.85 bu., 3.95 cwt.
Oats, N 0.2 1.79 bu., 5.58 cwt.
Soybeans, No.l 5.63 bu., 9.39 cwt.
Ear Com 79.68 ton, 3.98 cwt.
Alfalfa Hay 136.75 ton, 6.84 cwt
Mixed Hay —134.75 ton, 6.74 cwt
Timothy Hay 136.25 ton, 6.81 cwt.
7742
1242
624
482
84
47529
21367
10712
6063
492
33
Chge
Last
2186
2032
1990
1960
1890
+26
unch
unch
unch
unch