Al6-Lancaster Farming, Saturday, January 25, 2003
GRAIN, CATTLE, HOG,
& MILK BFP
FUTURES MARKETS
Markets Courtesy of Chicago Board and Mercantile Exchange
Closing Bids: Thursday, January 23, 2003
Com
01/22/03
01/23/03
01/23/03
01/23/03
*CASH*
MAR 03
MAY 03
JUL 03
01/23/03
01/23/03
01/23/03
01/23/03
01/23/03
01/23/03
SEP
DEC
MAR
MAY
JUL
DEC
Total
01/22/03
Soybeans
01/21/03
01/22/03
01/22/03
01/22/03
01/22/03
01/22/03
01/22/03
01/22/03
01/22/03
01/22/03
*CASH*
MAR 03
MAY 03
JUL 03
AUG 03
SEP 03
NOV 03
JAN 04
MAR 04
NOV 04
Total
01/21/03
Soybean Meal
01/22/03
*CASH*
01/23/03
01/23/03
01/23/03
01/23/03
MAR
MAY
JUL
AUG
01/23/03
01/23/03
01/23/03
01/23/03
03 / 23/03
01/23/03
01/23/03
01/23/03
01/23/03
01/23/03
Total
01/22/03
per pound and western nonfat
dry milk trading in the range
$O.BO-$0.82 per pound.
USDA announced the Class I
mover today. It fell from $10.56
per CWT in January 2003 to
$10.23 for February. The Class
IV skim milk price was again the
mover for Class I. The Boston
Class I price in February 2003
will be $13.48 per CWT. My
math indicates that the February
2003 MILC payment will be
$1.56 per CWT.
USDA announced the 2002 an
nual average cooperative Class I
Jan. 17,2003 go Mercantile Exchange. Block over-order premiums in major
CHEESE RISES prices rose from $1.14 per pound markets. The U.S. average for
ABOVE SUPPORT on Monday, Jan. 13 to $1.17 by 2002 for 33 markets was $1.44
• Blocks show strength. Friday, Jan. 17. Barrels remained per CWT. It ranged from a low
• Butter is blah! unchanged at about $l.lO/$l.ll of $0.15 per CWT in Phoenix,
• Global prices remain strong, per pound. The rest of the mar- Ariz. to a high of $3.05 in Miami,
* Cheese prices' §K6wed‘ jsome feef“remaTned; weajk. >¥»s>, ,-Ha. average fyer
}fe,bwttcMwlid«ig.aktllfl7s£3Jfiu. otdet -prsmUiia. .was- sli i‘ per.
Open
2344
2372
2402
2406
2402
2456
2490
2502
2412
Volume Qpen_lnt
56601 465627
Open
5570
5540
5520
5460
5334
5210
5240
5300
5050
Volume Open_lnt
48306 196991
Open High Low Last
16750 16750 16750
1680
1667
1660
1631
03
03
03
03
1607
1574
1563
1567
1580
1595
1595
1605
1605
1600
Volume Qpen_lnt
32998 158556
Ken Bailey
Professor of
Agricultural Economics;
Dairy Marketing and Policy
Penn State
High
2402
2372
2400
2430
Low
2402
2342
2372
2402
2406
2400
2456
2490
2502
2412
2422
2422
2476
2500
2502
2412
High
5480
5644
5604
5580
5510
5380
5264
5280
5300
5050
LOW
5480
5570
5534
5520
5460
5334
5210
5240
5274
5020
1671
1661
1651
1624
1689
1677
1665
1636
1605
1570
1560
1560
1580
1585
1595
1605
1605
1600
1614
1580
1569
1569
1587
1595
1600
1605
1605
1600
Lean Hogs
Date
01/22/03 *CASH* 0 477047704770
01/23/03 Feb 03 5010 506549875022
01/23/03 Apr 03 5650 566055555605
01/23/03 May 03 6102 617060756125
01/23/03 Jun 03 6370 637063006317
01/23/03 Jul 03 6125 614560806100
01/23/03 Aug 03 5865 586558205845
01/23/03 Oct 03 5225 525052055210
01/23/03 Dec 03 5125 513551175117
01/23/03 Feb 04 5360 5415 53605415
Chge
unch
Last
2402
2354
2384
2412
+ 6
+ 10
+ 6
+ 12
+ 10
+ 10
+ 10
+ 10
+ 2
2410
2410
2464
2490
2502
2412
Composite Volume Open_lnt
01/22/03 9407 40124
Live Cattle
Date
01/22/03 *CASH* 0 773177317731
01/23/03 Feb 03 8010 801579557977
01/23/03 Apro3 7835 785078157837
01 /23/03 Jun 03 7085 7095 7065 7077
01/23/03 Aug 03 6850 6865 6837 6852
01 /23/03 Oct 03 7095 7100 7072 7090
01/23/03 Dec 03 7210 721572027202
01/23/03 Feb 04 7350 735573457345
Chge
Last
5480
5600
5560
5542
5472
5342
5224
5252
5274
5020
Composite Volume Open_lnt
01/22/03 15628 109069
Pork Bellies
Date
01/22/03 *CASH* 0 700070007000 -200
01/23/03 Feb 03 8060 809079157985 -35
01/23/03 Mar 03 8092 811079507995 -22
01/23/03 May 03 8200 824080808090 +5
01/23/03 Jul 03 8200 824081708197 -28
01/23/03 Aug 03 7900 790079007900 -25
Chge
+ 150
1681
1668
1657
1631
Composite Volume Open_lnt
01/22/03 688 2978
-2
-6
-3
1607
1572
1563
1561
1585
1585
1595
1605
1605
1600
Oats
01/22/03
01/23/03
01/23/03
01/23/03
01/23/03
01/23/03
01/23/03
+ 5
unch
+ 5
+ 15
+ 15
+ 10
Total
01/22/03
„ ... , . . Previous Previous
Open High l*ow Last Chge Volumeopen
0 0
3934 10480
4363 15317
190 2829
627 6992
77 1919
174 1709
28 666
8 188
6 24
„ Previous Previous
Open High Low Last Cnee ... ~ . .
r b b Volume Open_lnt
0 0
5950 32047
6468 47553
2083 18743
742 6379
266 2471
97 1644
22 232
Previous Previous
Open High Low Last Chge VolunMiopenlnt
0 0
413 1503
187 794
70 410
18 242
0 29
Open
*CASH*
MAR 03
MAY 03
JUL 03
SEP 03
DEC 03
MAR 04
2072
1994
1856
1674
1590
1634
Volume Open_Xnt
1514 7567
CWT in 1999, $1.28 in 2000, and
$1.15 in 2001.
The December milk produc
tion report was released today.
Guess what? Cow numbers con
tinued to increase, from 7.791
million head in November to
7.797 million head in December
2002. Milk production in Decem
ber 2002 was up 1.8 percent from
a year ago. California alone had
a 4.2 percent increase in milk
production over a year ago. Most
of the growth in cow numbers
continued to be from the West.
The global market for dairy
products remains strong. Skim
milk powder, called nonfat dry
milk in the U.S., was trading at
just under $O.BO per pound in
European and Pacific markets.
That means western market
doss to global prices.
+5
+33
High
2262
2084
2006
1874
1674
1590
1634
Low
2262
2070
1994
1856
1664
1590
1634
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 2.95 bu., 5.28 cwt.
Wheat, N 0.2 3.23 bu., 5.39 cwt.
Barley, N 0.3 2.12 bu., 4.53 cwt.
Oats, N 0.2 2.01 bu., 6.27 cwt.
Soybeans, No.l 5.56 bu., 9.28 cwt.
Ear Corn 88.12 ton, 4.41 cwt.
Alfalfa Hay —■ 153.75 ton, 7.69 cwt.
. _ -Timothy-Hay)sQ.ooiQD^ 7 -s.cwt 7
Chge
-46
+ 14
+ 14
+ 12
+ 14
+ 14
+ 10
Last
2262
2082
2004
1872
1664
1590
1634