GRAIN, CATTLE, HOG.
& MILK BFP
FUTURES MARKETS
Markets Courtesy of Chicago Board and Mercantile Exchange
Closing Bids: Thursday, June 19, 2003
Com
06/18/03
06/19/03
06/19/03
06/19/03
06/19/03
06/19/03
06/19/03
06/19/03
06/19/03
06/19/03
*CASH*
JUL 03
SEP 03
DEC 03
MAR 04
MAY 04
JUL 04
SEP 04
DEC 04
DEC 05
Total
06/18/03
Soybeans
06/18/03
06/19/03
06/19/03
06/19/03
06/19/03
06/19/03
06/19/03
06/19/03
06/19/03
06/19/03
*CASH*
JUL 03
AUG 03
SEP 03
NOV 03
JAN 04
MAR 04
MAY 04
JUL 04
NOV 04
Total
06/18/03
Soybean Meal
06/18/03
06/19/03
06/19/03
06/19/03
06/19/03
06/19/03
06/19/03
06/19/03
06/19/03
06/19/03
06/19/03
06/19/03
06/19/03
06/19/03
*CASH*
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
06/18/03
June 13,2003
ITC LAUNCHES
MFC INVESTIGATION
• Chicago markets remain
steady.
• Milk production report next
week.
• ITC study to focus on farm
level impacts.
Cheese and butter prices at the
High
2542
2466
2436
2444
2500
2530
2544
2416
2440
2370
Open
2454
2416
2434
2486
2526
2544
2416
2440
2370
Volume Open_lnt
75877 390512
High
6240
6360
6370
6080
5780
5794
5800
5784
5774
5500
Open
6320
6340
6070
5760
5784
5794
5774
5760
5450
Volume Open_lnt
87779 225988
Open High
19000
1908
1905
1850
1742
1735
1740
1759
1755
1757
1760
1755
1682
1692
1899
1893
1840
1738
1725
1737
1759
1750
1757
1760
1755
1682
1692
Volume Qpen_lnt
42049 150775
Chicago Mercantile Exchange re
mained steady this week with
block cheese averaging $1.1450
per pound, barrel cheese averag
ing $1.1060 per pound, and Grade
AA butter averaging $1.1083 per
pound. Surprisingly, all three
prices are just above the respec
tive support price levels.
The market is awaiting the ver
dict of USDA’s Milk Production
Last
2542
2444
2410
2416
2472
2514
2526
2416
2430
2370
Low
2542
2426
2394
2404
2464
2506
2524
2416
2426
2370
Last
6240
6300
6320
6034
5724
5734
5764
5742
5740
5450
Low
6240
6280
6284
6004
5690
5724
5740
5720
5714
5450
Last
19000
1895
1890
1838
1721
1714
1718
1737
1747
1757
1740
1750
1682
1692
Low
19000
1894
1889
1836
1720
1710
1717
1735
1737
1757
1735
1750
1682
1692
report due out next Tuesday
(June 17). This report will provide
direction for where milk produc
tion is trending. The big question
will be whether the U.S. milk sup
ply is continuing to trend down
ward, especially with regard to
cow numbers.
The U.S. International Trade
Commission (USITC) announced
this Monday that it has launched
a general fact-finding investiga
tion regarding U.S. market condi
tions for milk protein products
(http://www.usitc.gov/er/n12003/
cro6o9aal.htm). This investiga
tion was requested by the Senate
Lean Hogs
Date
06/18/03 *CASH*
06/19/03 Jul 03
06/19/03 Aug 03
06/19/03 Oct 03
06/19/03 Dec 03
06/19/03 Feb 04
06/19/03 Apr 04
06/19/03 May 04
06/19/03 Jun 04
06/19/03 Jul 04
Chge
+ 22
+2
+2
+2
+2
+2
unch
-2
-4
-4
Composite Volume Open_lnt
06/18/03 11594 45782
Live Cattle
_ ... , , . Previous Previous
Date Open H.gh Lot* Last Chge Vo , ume op enJnt
0 0
2436 6273
101 702
4128 51796
0 71
2186 21833
601 19070
245 4780
95 2595
10 584
06/18/03 *CASH* 0 751675167516
06/19/03 Jun 03 7225 722571507167
06/19/03 Jul 03 6920 694068806887
06/19/03 Aug 03 6740 678567006712
06/19/03 Sep 03 6790 685067906800
06/19/03 Oct 03 6840 688268226845
06/19/03 Dec 03 7185 721771607187
06/19/03 Feb 04 7365 7385 73457377
06/19/03 Apr 04 7440 744073907425
06/19/03 Jun 04 6895 689568506860
Chge
+ 93
+ 10
+ 20
-4
-14
-24
-20
-12
unch
+2O
Composite Volume Open_lnt
06/18/03 9802 107705
Pork Bellies
Date
06/18/03 *CASH*
06/19/03
06/19/03
06/19/03
06/19/03
06/19/03
Chge
+l5O
+ 1
+ 2
+4
-4
-5
Composite VolumeOpenjnt
06/18/03 494 3136
Oats
+ 1
unch
unch
unch
06/18/03
06/19/03
06/19/03
06/19/03
06/19/03
06/19/03
-5
+ 12
+l7
Total
06/18/03
r\ ff * ■ i T a. Previous Previous
Open High l.mv Last Chge Vo|ume open
0 656765676567 -28
6630 6690 6625 6652 -85
6710 673066206625 -135
5810 581057205745 -60
5465 549054125467 -33
5740 576056805722 -65
5860 586058005852 -33
6045 607060456070 -27
6252 627562406270 -20
6200 620062006200 unch
~ , . , ,Previous Previous
Open High Low Last Cnee ~ . ,
r b Volume Open_lnt
0 0
0 960096009600 +3OO
Jul 03 9395 944093609380 -15
Augo3 9150 918591059115 -25
Feb 04 8050 8150 8050 8050 +25
Mar 04 8050 805080508050 +75
May 04 8500 850085008500 unch
Open
*CASH*
JUL 03
SEP 03
DEC 03
MAR 04
MAY 04
1616
1424
1420
1460
1494
Volume Qpen_lnt
1822 5588
Committee on Finance. The pur
pose of the study will be to pro
vide information on the compet
itiveness of a variety of milk
proteins in the U.S. market, focus
ing on milk protein concentrate,
casein, and caseinate, as well as
other protein products.
One of the major issues to be
addressed will be the impact of
imports of milk protein concen
trates on the U.S. dairy industry,
particularly on the farm gate price
of milk. The USITC will report
their findings to the Senate Com
mittee by May 14,2004.
High
1740
1616
1432
1424
1460
1494
LOW
1740
1576
1392
1386
1460
1494
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 ate averages, so you
will need to adjust your figures up or
down according to your location and the
quality of your crop.
Corn, No.2y 2.95 bu., 5.29 cwt.
Wheat, N 0.2 3.14 bu., 5.25 cwt
Barley, N 0.3 2.08 bu., 4.45 cwt.
Oats, N 0.2 2.04 bu., 6.37 cwt.
Soybeans, No.l 5.97 bu., 9.96 cwt.
Ear Com 90.11 ton, 4.51 cwt
Alfalfa Hay —165.00 ton, 8.25 cwt.
Mixed Hay —166.25 ton, 8.31 cwt.
Timothy Hay 181.25 ton, 9.06 cwt.
10612
19724
8645
4799
1007
701
119
175
4759
5242
1057
471
40
355
132
2324
724
86
Chge
-56
-26
-24
-30
-20
-14
Last
1740
1576
1396
1390
1460
1494