Al6-Lancaster Farming, Saturday, November 9, 2002
GRAIN, CATTLE, HOG.
& MILK BFP
FUTURES MARKETS
Markets Courtesy of Chicago Board and Mercantile Exchange
Closing Bids: Thursday, November 7, 2002
Com
11/06/02
11/07/02
11/07/02
11/07/02
11/07/02
11/07/02
11/07/02
11/07/02
11/07/02
11/07/02
11/07/02
*CASH*
DEC 02
MAR 03
MAY 03
JUL 03
SEP 03
DEC 03
MAR 04
MAY 04
JUL 04
DEC 04
Total
11/06/02
Soybeans
11/06/02
11/07/02
*CASH*
NOV 02
11/07/02
11/07/02
11/07/02
11/07/02
JAN
MAR
MAY
JUL
11/07/02
11/07/02
11/07/02
11/07/02
11/07/02
AUG
SEP
NOV
JAN
NOV
Total
11/06/02
Soybean Meal
11/06/02
11/07/02
11/07/02
11/07/02
11/07/02
11/07/02
11/07/02
11/07/02
11/07/02
11/07/02
11/07/02
11/07/02
11/07/02
*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
11/06/02
Nov. 1,2002
OCTOBER FEDERAL
ORDER PRICES
ANNOUNCED
• Class 111 and IV prices high-
• Commodity prices
proved,
• Rally is not sustainable.
Recent calculations by USDA’s
High
2464
2430
2472
2502
2522
2470
2430
2490
2504
2510
2396
Open
2426
2472
2500
2520
2464
2424
2490
2504
2510
2394
Volume Open_lnt
83273 506527
High
5675
5804
Open
5800
5744
5700
5610
5570
5744
5694
5604
5560
5470
5290
5090
5084
4880
5470
5290
5104
5084
4880
Volume Qpen_lnt
83287 210629
Open High
16550
1698
1701
1696
1678
1660
1645
1610
1568
1562
1560
1565
1600
1692
1693
1690
1670
1655
1635
1595
1555
1547
1560
1565
1600
Volume Open_lnt
37526 136998
Market Administrators look
promising. The November Class I
mover was up $0.45 per CWT
from the month before to $10.60.
That implies a November MILC
payment of $1.39 per CWT. And
announced Class 111 and IV
prices for October are both up.
Class 111 is up $O.BO per CWT to
$10.72 and Class IV is up $0.28
per CWT to $10.50.
im-
Last
2464
2410
2454
2486
2510
2460
2420
2484
2504
2504
2386
Low
2464
2406
2450
2482
2506
2460
2420
2484
2504
2504
2386
Last
5675
5740
Low
5675
5730
5682
5636
5564
5522
5660
5610
5542
5500
5442
5244
5054
5084
4860
5430
5244
5050
5084
4860
Last
16550
1679
1686
1678
1657
1645
1631
LOW
16550
1676
1681
1677
1655
1645
1630
1595
1551
1547
1543
1560
1600
1600
1551
1550
1543
1560
1600
Does this look like the begin
ning of a late fall rally?
The butter situation looks
promising. Grade AA butter
prices in Chicago this week trad
ed at $1.0325 per pound. While
only 23 carloads of butter were
traded this week, there does ap
pear to be evidence that the mar
ket is clearing a lot of butter. This
is occurring in anticipation of
holiday promotions. USDA re
ports that this may move a good
quantity of butter.
The numbers from USDA indi
cate that butter prices used in the
calculation of October federal
order prices actually rose 6.27
cents per pound from the previ
ous month.
Cheese is a different story. The
five-week cheese price rally in
late September and early October
was short-lived. Block cheese
prices this week in Chicago aver-
Lean Hogs
Date
11/06/02 *CASH*
11/07/02 Dec 02
11/07/02 Feb 03
11/07/02 Apr 03
11/07/02 May 03
11/07/02 Jun 03
11/07/02 Jul 03
11/07/02 Aug 03
11/07/02 Oct 02i
11/07/02 Dec 03
Chge
+lO
-20
-16
-14
-12
-4
-6
-6
-4
-4
-10
Composite Volume Open_lnt
11/06/02 7194 38592
Live Cattle
Date
11/06/02 *CASH* 0 680268026802 unch
11/07/02 Dec 02 7285 7322 7265 7312 +27
11/07/02 Feb 03 7600 766075957655 +43
11/07/02 Apr 03 7507 757274977562 +55
11/07/02 Jun 03 6990 706069807052 +55
11/07/02 Aug 03 6880 692068756917 +4O
11/07/02 Oct 03 6980 699069606980 +35
Chge
+ 50
-64
-66
-66
-62
-56
Composite Volume Open_lnt
11/06/02 8520 117827
-46
Pork Bellies
Date
-4
-34
-34
-22
11/06/02 *CASH* 0 730073007300
11/07/02 Feb 03 8190 830081658287
11/07/02 Maro3 8170 822581308220
11/07/02 May 03 8255 832082458280
11/07/02 Jul 03 8280 } 8320 8255 8280
11 /07/02 Aug 03 8000 8005 7975 7985
Chge
-100
-18
-16
-20
-17
-15
Composite Volume Open_lnt
11/06/02 325 1814
Oats
11/06/02
11/07/02
11/07/02
11/07/02
11/07/02
11/07/02
11/07/02
11/07/02
-2
unch
-2
-5
unch
Total
11/06/02
~ TT . . ¥ . 4 Previous Previous
Open High Low Last Cnee ~ T A
v b & Volume Open_lnt
0 0
4564 23898
2063 8631
388 2342
41 1038
91 1902
29 450
11 266
5 52
2 13
0 395939593959
4550 460545204592
5210 531051905230
5555 561055555600
6060 611060606092
6220 626262206245
5985 602559856020
5760 577557355735
5240 524052105240
5220 522051905217
„ Previous Previous
Open High Low Last Chge Volume Qpenjnt
0 0
3100 50156
2948 30935
1614 21185
381 13003
383 1996
94 550
~ Previous Previous
Open High Low Last Chge Volume openJnt
0 0
272 1661
37 94
9 28
7 25
0 6
Open
*CASH*
DEC 02
MAR 03
MAY 03
JUL 03
SEP 03
DEC 03
MAR 04
2024
1984
1894
1770
1550
1580
1574
Volume Opon_lnt
2245 10179
aged $1.0760 per pound, below
the support price of $1.1314. It is
that rally that has elevated Octo
bers’ Class 111 price by $O.BO per
CWT. Unfortunately, according
to the futures markets. Class 111
prices in November and Decem
ber are expected to reflect the
cash market and will be below
$lO per CWT.
Low milk prices won’t last for
ever. The same market that is ex
pecting low November and De
cember Class 111 prices is also
expecting Class 111 prices to aver
age $10.92 per CWT the first six
months of 2003, and $12.40 per
CWT the second half of 2003.
And those numbers will rise sig
nificantly if the milk supply falls
below market expectations and if
market sales of dairy products
improve. Again, low milk prices
don’t last forever.
High
2196
2030
1994
1910
1770
1550
1580
1574
LOW
2196
1994
1954
1884
1770
1550
1580
1574
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 3.05 bu., 5.46 cwt.
Wheat, N 0.2 3.27 bu., 5.46 cwt
Barley, N 0.3 —1.94 bu., 4.15 cwt.
Oats, N 0.2 1.83 bu., 5.71 cwt.
Soybeans, No.l 5.56 bu„ 9.28 cwt.
Ear Com 82.11 ton, 4.11 cwt.
Alfalfa Hay 141.25 ton, 7.06 cwt.
Mixed Hay 141.25 ton, 7.06 cwt.
Timothy Hay 130.50 ton, 6.53 cwt.
Chge
-2
-44
Last
2196
2002
1982
1910
1770
1550
1580
1574
-12
+4
unch
-10
unch
unch