Al6-Lancaster Farming, Saturday, February 22, 2003
GRAIN, CATTLE, HOG,
& MILK BFP
FUTURES MARKETS
Markets Courtesy of Chicago Board and Mercantile Exchange
Closing Bids: Thursday, February 20, 2003
Com
02/19/03
02/20/03
02/20/03
02/20/03
02/20/03
02/20/03
02/20/03
02/20/03
02/20/03
02/20/03
*CASH*
MAR 03
MAY 03
JUL 03
SEP 03
DEC 03
MAR 04
MAY 04
JUL 04
DEC 04
Total
02/19/03
Soybeans
02/19/03
02/20/03
02/20/03
02/20/03
02/20/03
02/20/03
*CASH*
MAR 03
MAY 03
JUL 03
AUG 03
SEP 03
02/20/03
02/20/03
02/20/03
02/20/03
NOV
JAN
MAR
NOV
Total
02/19/03
Soybean Meal
*CASH*
MAR 03
MAY 03
JUL 03
02/19/03
02/20/03
02/20/03
02/20/03
02/20/03
02/20/03
02/20/03
02/20/03
02/20/03
02/20/03
02/20/03
02/20/03
02/20/03
02/20/03
02/20/03
02/20/03
Total
02/19/03
Feb. 15,2003 cent), Oregon (21.9 percent), New
WESTERN MILK Mexico (13.6 percent), Arizona
CONTINUES TO GROW (11.6 percent), Colorado (9.6 per
• Cow numbers higher. cent), Idaho (5.1 percent), and
• Top six dairy states. California (5 percent). All seven
• Markets still weak. states are in the western half of
The 2002 milk production the U.S.
numbers were reported this week Overall, the U.S. milk supply
by USD A. The top seven states in grew 2,6 percent in 2002 relative
tqrms of.imllk production growth . to the previous year. The milk
f( | r 2 99?. J^ er s„£ a !?3?i? f 24-,4 -,* B , P er ; b .supply, noirna|lt,,eKn>MS M i3,^fai
•* r inr.,vrf «
Open
2344
2364
2390
2394
2400
2456
2490
2500
2400
Volume Qpen_lnt
87507 474054
Open
5660
5670
5630
5530
5390
5224
5254
5280
5030
03
04
04
04
Volume Qpen_lnt
59138 221240
Open High Low Last
17750 17750 17750
1739 1722 1727
1728 1705 1716
1707 1689 1699
1730
1713
1700
1657
1625
1570
1558
1553
1570
1585
1580
1590
1590
1588
1595
Volume Qpen_lnt
28580 168767
High
2422
2356
2384
2404
2400
2406
2460
2490
2510
2406
LOW
2422
2336
2364
2386
2390
2394
2452
2480
2496
2400
High
5665
5704
5700
5672
5580
5404
Low
5665
5652
5640
5620
5530
5380
5210
5244
5280
5020
5254
5264
5280
5030
1657
1615
1560
1545
1547
1550
1585
1580
1590
1590
1588
1595
1667
1627
1572
1558
1555
1570
1585
1580
1600
1600
1588
1595
Lean Hogs
Date
02/19/03 *CASH*
02/20/03 Apr 03
02/20/03 May 03
02/20/03 Jun 03
02/20/03 Jul 03
02/20/03 Aug 03
02/20/03 Oct 03
02/20/03 Dec 03
02/20/03 Feb 04
02/20/03 Apr 04
Chge
-30
+ 2
-2
-2
-6
-12
-10
-10
-10
-6
Last
2422
2354
2380
2400
2392
2396
2454
2480
2500
2400
Composite Volume Open_lnt
02/19/03 4138 37201
Live Cattle
Date
02/19/03 *CASH*
02/20/03
02/20/03
02/20/03
02/20/03
02/20/03
02/20/03
02/20/03
Chge
-23
-32
-26
-22
-24
-36
Last
5665
5684
5682
5660
5564
5386
-32
-30
-30
-16
5224
5250
5280
5022
Composite Volume Open_lnt
02/19/03 11866 101080
Pork Bellies
Date
02/19/03 *CASH* 0 800080008000
02/20/03 Feb 03 8750 883087008830
02/20/03 Mar 03 8790 884086708700
02/20/03 May 03 8920 895588108862
02/20/03 Jul 03 8900 8910 8850 8872
02/20/03 Aug 03 8625 8625 8570 8570
Chge
-150
-24
-21
-18
1660
1621
1561
1552
1550
1550
1585
1580
1595
1595
1588
1595
Composite Volume Open_lnt
02/19/03 798 2723
Oats
02/19/03
02/20/03
02/20/03
02/20/03
02/20/03
02/20/03
02/20/03
Total
02/19/03
cent a year. The number of dairy
cows grew 0.3 percent to 9.141
million head in 2002, and milk
yield per cow grew 2.3 percent to
18,571 pounds. Clearly, this rep
resents more milk from more
cows.
Of course not every state in the
U.S. grew at these rates. Exclud
ing Alaska and Hawaii, the conti
nental 48 states with the largest
production declines in 2002 were
South Dakota (-11.1 percent),
North Dakota (-9.2 percent), Ar
kansas (-9.0 percent), Louisiana
(-8.1 percent), and Alabama (-7.7
percent). My state of Pennsylva
nia fell 0.7 percent from the year
before, while our neighbor to the
north, New York, grew 3.7 per
cent.
The January milk production
report also announced milk pro
duction by herd size for 2002. In
that year, 41.9 percent of all milk
produced in the U.S. was from
farms with 500 cows or more.
„ ... . . , Previous Previous
Open High Low Last Chge Vo|ume ()pen |n|
0 0
2662 19448
119 2712
1121 8079
108 2958
97 2431
28 1075
3 439
0 58
0 0
0 457745774577 -78
5305 533052675295 -20
5870 588058155840 -35
6115 612560556057 -48
5920 594558955927 -3
5775 579057425782 +l7
5020 503250005020 +8
4925 493549124927 +7
5365 539053655390 unch
5440 544054405440 +4O
~ tt- u i i Previous Previous
Open H.gh Low Last Chge Volume Qpen
0 0
0 790079007900+106
Feb 03 8010 809780108067
Apr 03 7730 775077057720
Jun 03 7020 706070207045
Aug 03 6740 674767206727
Oct 03 7010 702069957015
Dec 03 7107 713071007100
Feb 04 7265 727072457260
~ . T . Previous Previous
Open High Low Last Chge Vo|umeopen lnt
0 0
165 234
374 1267
230 835
28 358
1 27
Open
*CASH*
MAR 03
MAY 03
JUL 03
SEP 03
DEC 03
MAR 04
2090
1974
1844
1670
1570
1630
Volume Open_lnt
1267 6858
resented just 3.2 percent of all the
dairy farms in the U.S. (91,990
farm operations).
If this sounds like a score card,
it is. The data indicates that some
states are growing, whereas other
states are falling farther and far
ther behind. Milk production rep
resents a huge economic impact
for affected states, resulting in
the loss or gain of thousands of
jobs and millions of dollars in
statewide economic activity.
Overall, the milk supply in
2002 exceeded market needs, re
sulting in lower milk prices. De
spite the drop in milk prices,
which began in the fall of 2001,
the number of cows on farms
continued to increase. Cow num
bers for 20 select states were at
7.726 million head on October
2001. They have since grown
steadily to an estimated 7.805
million head for January 2003.
This will likely begin to level out
as farm expansions slow because
» «■«« . «■<
unch
+6O
-75
-35
-28
unch
High
2296
2102
1976
1856
1670
1570
1630
LOW
2296
2074
1964
1842
1670
1570
1630
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 2.96 bu., 5.30 cwt.
Wheat, N 0.2 3.25 bu., 5.43 cwt.
Barley, N 0.3 2.15 bu., 4.60 cwt.
Oats, N 0.2 2.03 bu., 6.33 cwt.
Soybeans, No.l 5.58 bu., 9.32 cwt.
Ear Com 89.01 ton, 4.45 cwt.
Alfalfa Hay 160.00 ton, 8.0 cwt.
Mixed Hay 143.75 ton, 7.19 cwt.
Timothy Hay 133.00 ton, 6.65 cwt.
7821
54577
20389
9280
5327
2799
887
2064
6693
1597
814
336
316
46
Chge
-10
+2
+ 12
+ 12
unch
-6
unch
Last
2296
2094
1976
1856
1670
1570
1630