Al6-Lancaster Farming, Saturday, November 2, 2002
GRAIN, CATTLE, HOG,
& MILK BFP
FUTURES MARKETS
Markets Courtesy of Chicago Board and Mercantile Exchange
Closing Bids: Thursday, October 31, 2002
Com
10/30/02
10/31/02
10/31/02
10/31/02
10/31/02
10/31/02
10/31/02
10/31/02
10/31/02
10/31/02
10/31/02
*CASH*
DEC 02
MAR 03
MAY 03
JUL 03
SEP 03
DEC 03
MAR 04
MAY 04
JUL 04
DEC 04
Total
10/30/02
Soybeans
10/30/02
10/31/02
10/31/02
10/31/02
10/31/02
10/31/02
10/31/02
10/31/02
10/31/02
10/31/02
10/31/02
*CASH*
NOV 02
JAN 03
MAR 03
MAY 03
JUL 03
AUG 03
SEP 03
NOV 03
JAN 04
NOV 04
Total
10/30/02
Soybean Meal
10/30/02
10/31/02
10/31/02
10/31/02
10/31/02
10/31/02
10/31/02
10/31/02
10/31/02
10/31/02
10/31/02
10/31/02
10/31/02
*CASH*
DEC 02
JAN 03
MAR 03
MAY 03
JUL 03
AUG 03
SEP 03
OCT 03
DEC 03
JAN 04
MAR 04
DEC 04
Total
10/30/02
Oct. 25,2002
CONSUMPTION
LOOKS BETTER
• Cheese markets still stag
nant.
• Butter stronger.
• Futures markets weak.
The initial look at market data
this week still looks bad. Stocks
of dairy products for Sei
are high.'- GHbo6e <'prid
below support levels this!
High
2550
2490
2532
2560
2576
2514
2470
2532
2530
2540
2384
Open
2460
2504
2532
2542
2500
2446
2524
2530
2534
2380
Volume Open_Xnt
68009 492918
Open
5610
5622
5580
5504
5480
5390
5240
5050
5126
4910
Volume Qpen_lnt
110800 214689
Open High
16550
1705
1715
1713
1689
1674
1655
1627
1588
1585
1563
1570
1600
1696
1705
1703
1675
1665
1646
1615
1580
1575
1563
1570
1600
Volume Qpan_lnt
40560 131976
the Chicago Mercantile Ex
change. The Class 111 futures
prices for the rest of the year will
be about $lO per CWT. And Sep
tember retail prices for dairy
products such as natural cheese,
ice cream, butter, and fluid milk
increased above month-ago lev
els.
However, there is some good
itember
Low
2550
2460
2496
2530
2542
2494
2444
2510
2530
2524
2380
High
5430
5672
5686
5646
5564
5540
5464
5250
5124
5130
4910
Low
5430
5600
5620
5570
5494
5470
5390
5240
5050
5126
4910
Low
16550
- 1693
1700
1695
1674
1663
1646
1615
1575
1572
1563
1570
1600
Chge
-14
+l4
+2O
+2O
+l4
+6
+ 6
+lO
+l4
+l4
+lO
Last
2550
2474
2520
2546
2560
2494
2454
2514
2530
2530
2380
Chge
-20
+B2
+B2
+ 94
+92
+ 92
+9O
+7O
+ 66
+56
+4O
Last
5430
5652
5664
5622
5554
5520
5440
5250
5090
5126
4910
Chge
-150
+l6
+ 16
+2O
+2O
+ 16
+ 16
+l3
Last
16550
1697
1706
1706
1685
1669
1652
1616
1575
1572
1563
1570
1600
+ 10
+4
unch
-10
unch
through August. We typically get This will help improve butter
this data three months after it ac- prices in 2003, particularly in the
tually occurred. The data indi- second half of the year,
cates that consumption for Amer- The Class 111 futures prices are
ican cheese and other cheese very close to market lows. The
were up 2.6 and 1.1 percent over futures prices as of 10/25/02 ex
the same period a year ago. pect the Class 111 price to fall
There are also rumors that recent from $10.65 per CWT in October
scanner data from large retail 2002 to $9.60-$9.80 per CWT in
grocery store chains suggest November and December. Class
cheese sales are improving. This ® *“ ture |^ l^ s are e SJfSl e<^, to
is important because better sales
will ultimately lead to better
Class 111 average futures price of
pn £f- . , ™ $11.89 per CWT just a few weeks
The butter market at the Chi- ago
cago Mercantile Exchange fared Historically speaking, the
better than cheese. For the week, Qass jn price averaged $12.08
Grade AA butter prices were up CWT for the 57 months
almost two cents from the prior tween January 1998 and Septem
week, to $1.0383 per pound. be r 2003. Thus, producers look-
Prices rose because of strong pur- Jng to forward contract or hedge
chases for holiday sales promo- milk now for 2003 should avoid
tions. There were 89 car loads of locking in too much, particularly
butter that traded this week in since it is so far below the S-year
Chicago. That is significant. If average. If we are indeed at the
sales continue at this pace, there “bottom” of the market, it is
is every hope that inventories will more likely than not that milk Mixed Hay —139.25 ton, 6.96 cwt
WKStMMKtk year
Lean Hogs
Date
10/30/02 *CASH*
10/31/02 Dec 02
10/31/02 Feb 03
10/31/02 Apr 03
10/31/02 May 03
10/31/02 Jun 03
10/31/02 Jul 03
10/31/02 Aug 03
10/31/02 Oct 03
10/31/02 Dec 03
Composite Volume Open_lnt
10/30/02 7451 36226
Live Cattle
Date
10/30/02 *CASH* 0 670067006700 unch
10/31/02 Oct 02 6935 699568256840 -97
10/31/02 Dec 02 7245 732572077320 +B3
10/31/02 Feb 03 7520 760074857595 +BO
10/31/02 Apr 03 7440749074057485 +3B
10/31/02 Jun 03 6940 699069006987 +45
10/31/02 Aug 03 6830 687067956862 +l5
10/31/02 Oct 03 6890 691568856915 +25
Composite Volume Openjnt
10/30/02 13425 115674
Pork Bellies
Date
10/30/02 *CASH* 0 690069006900 unch
10/31/02 Feb 03 7850 795078207882 +57
10/31/02 Mar 03 7900 790077777827 +97
10/31/02 May 03 7995 801079757995
10/31/02 Jul 03 7950 797579007900
10/31/02 Aug 03 7700 770076007600
Composite Volume Openjnt
10/30/02
Oats
10/30/02
10/31/02
10/31/02
10/31/02
10/31/02
10/31/02
10/31/02
10/31/02
♦CASH*
DEC 02
MAR 03
MAY 03
JUL 03
SEP 03
DEC 03
MAR 04
Total
10/30/02
~ TT- . I T i Previous Previous
Open High Low Last Chge Vo|ume open
0 0
4449 25094
2437 6424
309 1811
12 793
181 1453
56 374
3 227
4 45
0 5
0 393839383938
4260435542254312
4925 500048954987
5280 535052405345
5870 593758705937
6145 617061156170
5910 594759005937
5685 568556605685
5185521051855210
5170 517051505170
_ ¥T . . T . Previous Previous
Open High Low Last Chge Vo lume Openjnt
0 0
638 481
6796 54244
3784 27220
1325 20021
622 11963
258 1362
2 383
~ IT . . ¥ T A Previous Previous
Open High Low Last Chge Volnmeopen lnt
0 0
318 1412
6 72
1536
337
Open
2052
1990
1910
1790
1560
1580
1574
Volume Qpen_lnt
1124 9190
+8
+lO
+6O
+5O
+75
High
2200
2090
2032
1924
1794
1560
1580
1574
LOW
2200
2040
1980
1904
1790
1560
1580
1574
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 3.04 hu„ 5.44 cwt.
Wheat, N 0.2 3.39 bu„ 5.66 cwt.
Barley, N 0.3 —1.92 bu„ 4.11 cwt.
Oats, N 0.2 1.85 bu., 5.78 cwt
Soybeans, No.l _ 5.37 bu., 8.96 cwt.
Ear Com 79.72 ton, 3.99 cwt.
Alfalfa Hay 144.25 ton , 7.21 cwt
13 25
0 19
0 8
Chge
+4
Last
2200
2052
1994
1904
1790
1560
1580
1574
+2
+ 6
unch
+l4
unch
unch
unch