Al6-Lancaster Farming, Saturday, May 31,2003
GRAIN, CATTLE. HOG,
& MILK BFP
FUTURES MARKETS
Markets Courtesy of Chicago Board and Mercantile Exchange
Closing Bids: Thursday, May 29, 2003
Com
05/28/03
05/29/03
05/29/03
05/29/03
05/29/03
05/29/03
05/29/03
05/29/03
05/29/03
*CASH*
JUL 03
SEP 03
DEC 03
MAR 04
MAY 04
JUL 04
SEP 04
DEC 04
05/29/03
DEC
Total
05/28/03
Soybeans
05/28/03
05/29/03
05/29/03
05/29/03
05/29/03
05/29/03
*CASH*
JUL 03
AUG 03
SEP 03
NOV 03
JAN 04
05/29/03
05/29/03
05/29/03
05/29/03
MAR
MAY
JUL
NOV
Total
05/28/03
Soybean Meal
05/28/03
05/29/03
*CASH*
JUL 03
05/29/03
05/29/03
05/29/03
05/29/03
05/29/03
05/29/03
05/29/03
05/29/03
05/29/03
05/29/03
05/29/03
05/29/03
Total
05/28/03
May 23,2003
MILK PRODUCTION
AND COLD STORAGE
• April milk production up 0.8
percent.
• Cow numbers drop,
• April stocks up.
Two very important statistical
reports were released this past
week. The first was the Milk Pro
Open
2414
2394
2404
2460
2522
2520
2450
2434
2374
Volume Open_lnt
59084 405543
Open
6214
6184
5854
5540
5580
04
04
04
04
5630
5670
5630
5352
Volume Open_lnt
49606 226152
Open High Low Last
19200 19200 19200
1929 1895 1921
1900
1877
•1818
1692
1680
1680
1705
1712
1733
1727
1722
1637
1650
Volume Open_lnt
29637 156088
duction Report. It indicated that
the nation’s milk supply is still
growing, but at a much slower
rate. The second was the Cold
Storage Report. It showed the op
posite inventory is growing,
particularly for butter.
First, the Milk Production Re
port. Once again, milk produc
tion is growing relative to year-
High
2492
2454
2434
2446
2502
2540
2554
2450
2450
Low
2492
2406
2390
2400
2460
2510
2520
2450
2434
2374
2374
High
6135
6320
6290
5954
5654
5690
LOW
6135
6184
6164
5840
5534
5574
5630
5654
5630
5352
5720
5674
5700
5352
1877
1818
1690
1676
1680
1705
1712
1732
1727
1722
1637
1650
1909
1847
1726
1710
1712
1730
1740
1755
1735
1722
1637
1660
Lean Hogs
Date
05/28/03
05/29/03
05/29/03
05/29/03
05/29/03
05/29/03
05/29/03
05/29/03
05/29/03
05/29/03
Chge
Last
2492
2450
2432
2442
2500
2536
2554
2450
2450
Composite Volume Open_lnt
05/28/03 9553 45277
unch
2374
Live Cattle
Date
05/28/03 +CASH* 0 787178717871 unch
05/29/03 May 03 8075 8100 7995 8100+105
05/29/03 Jim 03 7550 757574977555 +3O
05/29/03 Jul 03 7160 718070857140 -10
05/29/03 Aug 03 7040 704569506990 -15
05/29/03 Oct 03 7120 712570607092 -10
05/29/03 Dec 03 7380 738273407357 -5
05/29/03 Feb 04 7475 748074377455 -7
05/29/03 Apr 04 7540 757575157570 unch
05/29/03 Jun 04 6975 699069706970 -10
Chge
-63
•470
+ 64
+ 56
+ 54
+ 56
Last
6135
6300
6272
5926
5622
5660
+ 56
+ 50
+ 54
+ 24
5702
5664
5684
5352
Composite Volume Open_lnt
05/28/03 33560 110461
Pork Bellies
Date
05/28/03 •’■'CASH 1 0 980098009800 +2OO
05/29/03 Jul 03 9677 9715 95509640 -2
05/29/03 Aug 03 9325 936592159262 -23
05/29/03 Feb 04 8010 8065 80008015 -15
05/29/03 Mar 04 8020 802080208020 unch
Chge
-450
+ 15
1901
1839
1709
1696
1697
1720
1730
1746
1735
1722
1637
1650
Composite Volume Open_lnt
05/28/03 1005 3540
Oats
05/28/03
05/29/03
05/29/03
05/29/03
05/29/03
05/29/03
Total
05/28/03
ago levels. Milk production for 20
select states during April was up
0.8 percent relative to a year ago.
But the critical number was the
number of milking cows. For the
first time in months, the number
of cows on farms actually de
clined from the month before.
That is very good news, because
it indicates the month-over
month growth in cow numbers
has hopefully subsided. We’ll
need to wait at least a few
months to see if this pattern of
reduced cow numbers persists.
You will note that California,
however, actually gained 4,000
head.
The Cold Storage Report an-
Our Dairy Plus Special Technology issue on
June 28 focuses on ways producers can use the
latest technology to aid them in improving
efficiency and expanding the bottom line. Included
are reports on a freestall sand separator, robotic
milking, and other new items. Also included are a stray voltage
update, veterinary reports, cooperative and dairy business news, and
a calendar of events.
~ u- l, , * r . Previous Previous
Open High Low Last Chge Vo|ume ope n_lnt
ASH : 0 574457445744 -66
Jim 03 6427 648564006422 +l5
Jul 03 6640 674066206672 +62
Aug 03 6732 678566656737 +B5
Oct 03 5645 569756305662 +l5
Dec 03 5465 552054455447 -30
Feb 04 5810 586058105827 -3
Apr 04 5985 599059455955 -25
May 04 6220 624062206227 unch
Jun 04 6460 646064506450 -10
„ . T T Previous Previous
Open H.gh Low Last Chge Vo|um< , Qpen
0 0
295 223
12891 26838
66 366
14260 44283
3684 20530
1589 12538
523 3927
109 1540
143 216
Previous Previous
Open H.gh Low Last Chge Vo|ume o pen_lnt
0 0
859 3115
137 354
9 70
0 1
Open
*CASH*
JUL 03
SEP 03
DEC 03
MAR 04
MAY 04
1432
1412
1410
1450
1500
Volume Open_lnt
1167 5745
nounced inventory for butter and
cheese at the end of April. Sur
prisingly, butter inventories were
up 35 percent to 265.3 million
pounds relative to last year.
That’s a lot of butter. But recall
that butterfat production this
time last year was actually de
pressed. Cheese inventories in
April were also up, but not as
much as butter. Natural Ameri
can cheese was up 4 percent,
whereas other cheese was down 6
percent. Overall, cheese invento
ries appear to be under control.
That means a modest recovery in
the cheese market can be ex
pected if the milk supply contin
ues to decline.
High
1644
1476
1450
1430
1470
1500
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.
0
3659
2678
1404
960
715
54
54
18
11
Last
1644
1466
1432
1426
1470
1500
Low
1644
1430
1412
1400
1450
1500
Average Farm Feed
Costs for Handy
Reference
Com, No.2y 3.02 bu., 5.40 cwt.
Wheat, N 0.2 3.21 bu., 5.36 cwt.
Barley, N 0.3 2.16 bu., 4.62 cwt.
Oats, N 0.2 2.1 bu., 6.55 cwt.
Soybeans, No.l 6.05 bu., 10.10 cwt.
Ear Corn 88.30 ton, 4.42 cwt.
Alfalfa Hay 161.25 ton, 8.06 cwt.
Mixed Hay 146.25 ton, 7.31 cwt.
Timothy Hay 145.00 ton, 7.25 cwt.
0
13066
14700
7806
4863
3666
648
408
33
86
Chge
+ 16
+ 36
+ 22
+ 26
+ 20
unch