GRAIN. CATTLE, HOG.
& MILK BFP
FUTURES MARKETS
Markets Courtesy of Chicago Board and Mercantile Exchange
Closing Bids: Thursday, April 10, 2003
Com
04/09/03
04/10/03
04/10/03
04/10/03
04/10/03
04/10/03
04/10/03
04/10/03
04/10/03
*CASH*
MAY 03
JUL 03
SEP 03
DEC 03
MAR 04
MAY 04
JUL 04
SEP 04
04/10/03
04/10/03
DEC
DEC
Total
04/09/03
Soybeans
04/04/03
04/07/03
04/07/03
04/07/03
04/07/03
04/07/03
04/07/03
04/07/03
04/07/03
04/07/03
04/07/03
*CASH*
MAY 03
JUL 03
AUG 03
SEP 03
NOV 03
JAN 04
MAR 04
MAY 04
JUL 04
NOV 04
Total
04/04/03
Soybean Meal
04/03/03
04/04/03
04/04/03
04/04/03
04/04/03
04/04/03
04/04/03
04/04/03
04/04/03
04/04/03
04/04/03
04/04/03
04/04/03
04/04/03
04/04/03
*CASH*
MAY 03
JUL 03
AUG 03
SEP 03
OCT 03
DEC 03
JAN 04
MAR 04
MAY 04
JUL 04
AUG 04
SEP 04
OCT 04
DEC 04
Total
04/03/03
April 7,2003
CHEESE PRICES
STRENGTHEN
• Blocks, barrels show gains.
• Butter is steady.
• March Class 111 is $9.11 per
CWT.
USDA reports that cash cheese
prices at the Chicago Mercantile
Exchange rebounded to just
High
2540
2416
2434
2424
2420
2470
2482
2520
2450
Open
2416
2432
2424
2414
2466
2482
2520
2450
2424
2384
2424
2384
Volume Open_lnt
54093 416318
High
5840
6020
5990
5854
5540
5274
5300
5310
5310
5310
5070
Open
5950
5960
5800
5490
5230
5250
5310
5306
5310
5060
Volume Qpen_lnt
43493 242204
Open High
17300
1718 1748
1708 1738
1665 1690
1593 1612
1520 1542
1512 1531
1519 1530
1535 1545
1550 1553
1560 1565
1555 1555
1550 1550
1507 1507
1515 1515
Volume Open_lnt
23427 151790
under support price levels. It
seems that sides of process and
block cheese to the Commodity
Credit Corporation (CCC) may
explain the price movement. As
cheese plants gear up for sales to
the government under the price
support program, there is less
need to discount cheese prices.
Butter was relatively steady
Low
2540
2380
2394
2390
2392
2444
2480
2496
2440
Last
2540
2386
2402
2394
2394
2444
2480
2500
2440
2416
2384
2414
2384
Last
5840
5986
5972
5836
5520
5264
5284
5310
5310
5310
5062
Low
5840
5950
5940
5790
5490
5224
5250
5310
5294
5310
5060
Last
17300
1745
1736
1689
1611
1538
1529
1528
1536
1546
1555
1545
1545
1507
1510
Low
17300
1715
1705
1663
1593
1518
1511
1519
1532
1545
1552
1545
1545
1507
1510
this week, remaining 4 cents a
pound above support price levels.
USDA reports that production of
cream-based holiday items for
the upcoming Easter and Passo
ver season may explain the slight
rise in wholesale butter prices at
the Chicago Mercantile Ex
change.
USDA announced the Class
111 price for March last week.
The Class 111 price was $9.11 per
CWT, well below the support
price of $9.80 per CWT and
$0.55 per CWT below the Febru
ary Class 111 price. The average
cheese price used to compute the
March Class 111 price was
See the latest in equipment and material news, promotions
and new hires, and burgeoning ag ventures on the
business news page located on Page D 2 this issue!
Lean Hogs
Date
04/09/03 *CASH*
04/10/03 Apr 03
04/10/03 May 03
04/10/03 Jun 03
04/10/03 Jul 03
04/10/03 Aug 03
04/10/03 Oct 03
04/10/03 Dec 03
04/10/03 Feb 04
04/10/03 Apr 04
Chge
Composite Volume Open_lnt
04/09/03 5807 40745
Live Cattle
Date
-12
-12
04/09/03 *CASH*
04/10/03 Apr 03
04/10/03 May 03
04/10/03 Jun 03
04/10/03 Jul 03
04/10/03 Aug 03
04/10/03 Oct 03
04/10/03 Dec 03
04/10/03 Feb 04
04/10/03 Apr 04
Chge
+ 43
+ 80
+ 82
+ 84
+7O
+7O
+ 64
+ 64
+ 64
+ 64
+2
Composite Volume Open_lnt
04/09/03 17734 99271
Pork Bellies
Date
04/09/03 *CASH* 0 870087008700
04/10/03 May 03 8340'8340 8140 8145
04/10/03 Jul 03 8480 848082408240
04/10/03 Aug 03 8250 825080508050
04/10/03 Feb 04 7820 782077257725
04/10/03 Mar 04 7725 7725 7725 7725
Composite Volume Open_lnt
04/09/03 1429 3175
Oats
04/07/03
04/08/03
04/08/03
04/08/03
04/08/03
04/08/03
04/08/03
Total
04/07/03
„ TI . , , w Previous Previous
OpenH.gh Low Last Chge Volume Qpel) ,„ t
0 0
1507 3905
153 2536
3420 21414
375 4276
190 4706
100 2342
61 1042
0 378
1 146
0 474547454745
4975 498049204935
5520 553054255452
5790 582557105755
5810 584057555775
5855 585557605760
5035504549925015
5072507250105010
5525 552554755500
5865 587058605870
~ , , , . Previous Previous
Open High Low Last Chge Vo|ume open
0 0
6047 15280
156 2612
8060 48429
0 60
2120 14042
702 10849
482 5558
162 2238
5 203
0 801880188018 +135
7792 779777557770 -37
7485 750574707502 -3
7195 719571477167 -25
6855 685568556855 -5
6830 683067926820 -2
7012 701269706982 -25
7195 721571627172 -15
7305 730772607260 -55
7375 737573607370 -15
„ ~ , Previous Previous
Open High Low Last Chge Vo|ume ope „ In ,
0 0
1042 2054
362 1067
24 46
1 7
0 I
Open
*CASH*
MAY 03
JUL 03
SEP 03
DEC 03
MAR 04
MAY 04
1882
1632
1492
1474
1490
1580
Volume Qpen_lnt
904 6122
$1.0780 per pound. Weak cheese
market conditions clearly result
ed in a low Class 111 price.
The good news is that the
dairy futures markets at the Chi
cago Mercantile Exchange are
showing signs of strength. As of
April 4, 2003, Class 111 futures
indicate that prices for Class 111
milk will rise above $lO per CWT
by June and will peak at $11.83
by October. Thus there appears
to be more price strength in the
latter months of the year. This is
an indication that the market ex
pects the milk supply to correct
itself and for demand to stabilize
later in the year.
+6l
-55
-108
-102
-85
-100
-35
-70
-62
-35
-400
-285
-300
-300
-100
-100
High
2062
1904
1634
1492
1474
1490
1580
Low
2062
1874
1612
1492
1464
1490
1580
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 2.89 bu., 5.16 cwt.
Wheat, N 0.2 3.07 bu., 5.12 cwt.
Barley, N 0.3 2.21 bu., 4.73 cwt.
Oats, N 0.2 2.10 bu., 6.54 cwt.
Soybeans, No.l 5.70 bu., 9.52 cwt.
Ear Com 88.78 ton, 4.44 cwt.
Alfalfa Hay 147.75 ton, 7.39 cwt.
Mixed Hay 140.00 ton, 7.0 cwt.
Timothy Hay 115.00 ton, 5.75 cwt.
Chge
+ 36
-10
-12
-6
-4
-30
unch
Last
2062
1876
1612
1492
1464
1490
1580