Al6-Lancaster Farming, Saturday, July 12, 2003
GRAIN, CATTLE, HOG.
& MILK BFP
FUTURES MARKETS
Markets Courtesy of Chicago Board and Mercantile Exchange
Closing Bids: Thursday, July 17, 2003
Com
Month Opening
03Jul 224 1/4
03Sep
03Dec
217 1/4
217 1/2
225 1/2
04Mar
04May
04Jul
231 1/2
234 1/4,
,«4S#
235 1/2
,041>ec .
- —r- -IWT^
Soybeans
238 1/2 239
Soybeans
Month [Opening ,High
03Jul 617 617
i
t
604 606
5671568 1/2
539
539i529 1/2|
540 541 j 532 1/21 532 1/2 |532 1/2,
537 538)534 1/2 535 1/2 |535 1/2
541 1/2 541 1/2 5341/2 535 1/2 [ 1 535 1/2
~ J_"5441' ~~ 544 F 536 536 i/2 b 537 1/2 a[ " 537
SSSBin 538 r 538 ' 533 537 f 537 [ -60
HBHH
Soybean Meal
Month Opening High Low
03Jul 191.0 191.3 188.5
184.
03Aug
175.
03Sep
03Oct
161.
160.
03Dec
04 Jan
04JVIar ■
04May,
04Jul
p44j57 162.0 i 162.5 j 160.5
MS#p ti ,| 162.5 j 162.51 160.0;
■| 159.71 159.7 j 156.5 156-5 b
T 159.8 159.8(157.3 157.0 b
160
162
163
164
East Fluid Milk
And Cream Review
Madison, Wis.
July 9,2003
Report Supplied by USDA
SPOT PRICES OF CLASS II CREAM,
dollars per lb butterfat; F. 0.8. producing
plants: Northeast: 1.4966-1.7007. Deliv
ered Equivalent: Atlanta: 1.5193-1.7234
mostly 1.6327-1.7120.
PRICES OF CONDENSED SKIM,
dollars per lb. wet solids, F. 0.8. produc
ing plants: Northeast: Class 11, includes
monthly formula prices: .BSOO-.9300.
Class 111, spot prices: .7400-.8200.
SPOTS SHIPMENTS OF GRADE A
MILK: FLORIDA; This Week: In 0, Out
60; Last Week In 0, Out 52; Last Week In
0. Out 45. SOUTHEAST STATES: This
Week: In 0, Out 0; Last Week In 0, Out 0;
Last Week In 0, Out 0.
EDITOR’S NOTE: Due to changes in
milk supply agreements, milk import/
export totals are not directly comparable
to year ago figures and to shipments prior
to April- F, 2003. - -
High Low
224 1/2 223
217 1/4 214 1/2
217 3/4 216
224
225 1/2
230
231 1/2
234 3/4 233 1/2
236 1/2 235 1/4
237
1244 1/2 nj
" j 237 3/4 n[
' 1
Low
609
601 1/2
561 1/2!
%>i ., v
r£i<» * ;
9 185.2 183.0
3 175.3 173.0
6 161.6 159.2
,5 160.5 157.3
5 160.7 158.2
5,162.5 159.5
o'
163.0,159.5
164.5!161.5
r 160.5 ) ’
160.5
The following are the June 2003 Class
and component prices under the Federal
Milk Order pricing system: Class II
$10.46 (up $0.03 from May), Class 111
$9.75 (up $0.04); and Class IV $9.76 (up
$0.02). The following are the product
price averages used in computing Class
prices; butter $1.0797, NDM $0.8040,
cheese $1.1464, and dry whey $0.1396.
The Class II butterfat price is $1.1646 and
the Class 111/IV butterfat price is $1.1576.
Many contacts were at or on their way
to a large, industry outing at mid-week
and unavailable for comment. However,
there were still a lot of conversations re
garding the recently enacted self-help
program proposed and promoted by a
large national organization. Although the
goats are nearly identical, the final ver
sion of the plan has producer costs and
resulting benefits sharply lower than the
original plans. Nearly all current market
indicators point to higher milk prices and
lower cow numbers in coming months,
which are major goals of the organiza
tion’s plan.
■MHk production is moving lower in
Closing
224 1/4 223 1/2
214 3/4
215 1/4
216 1/2
217 1/4
224 3/4 224 1/4
230 1/2
234 234 3/4
236 236 1/2
238
elgsing^v*..
615 j
602 1/2
603
561 1/2 562 1/2
529 1/2 530 1/2
Closing
190.0
190.5
183.2
183.7
173.1
173.2
159.7
157.7
158.0
158.2 '
160.0
159.5
159.5 j
161.5 j
160.0
156.5_a| 156.5 Q _ -37
157.3 a 157.3 [ ' -34
Settle Net Chg
-32
224
-56
215
217
-44
.44
224 1/2
-40
230 1/2,
234 1/2!
236 1/4 j
-32 i
-22
-14|
7 14 !
+2
2381
244 1/21
'j237 3/41 *
leiaisaa
Settle Net CBg
614 1/2 -44
-72
1602 3/4 i
(' ’ 562 i
-114
530 i
-150
-140
-136
-140
-130
Settle Net Chg
190.3 -12
-24
183.5
-34
173.2
-34
159.7.
-42
157.9)
158.2!
-47
159.8'
-48
-54
159.5
161.5 i
-43
-35
160.5
160.3
-39
most sections of the region. Hot, humid
weather prevails over the East. Florida's
milk output is declining, but at slower
than expected rates. Milk exports from
Florida actually increased slightly this
week. Milk production in other South
eastern states is dropping rather rapidly
as the heat is taking it’s toll on the cows.
In the Middle Atlantic and Northeast, the
milk flow is easing from peak levels.
Throughout the region, fat and solids
tests are at low, seasonal levels. Bottled
milk sales are slower. Bottlers note that
sales seem to have really slowed since the
Fourth of July. Surplus milk volumes are
mostly steady. The slower Class I demand
and lower milk output, are combining to
keep surplus milk volumes relatively
steady.
The condensed skim market is unset
tled, particularly for Class 111. Recent in
creases in cheese prices at the CME are
expected to greatly impact next month’s
Class 111 condensed skim prices. If cheese
prices hold through the month, contacts
expect August Class 111 wet solids to be
priced orcr a doHarper pound-solids. Re-
Lean Hogs
Date
>CASFT
Jul 03
Aug 03
Oct 03
Dec 03
Feb 04
Apr 04
May 04
Jun 04
Jul 04
07/09/03
07/10/03
07/10/03
07/10/03
07/10/03
07/10/03
07/10/03
07/10/03
07/10/03
07/10/03
Composite Volume Open_lnt
07/09/03 10231 40076
Live Cattle
Date
07/09/03 ‘■'CASH*
07/10/03 Jul 03
07/10/03 Aug 03
07/10/03 Sep 03
07/10/03 Oct 03
07/10/03 Dec 03
07/10/03 Feb 04
07/10/03 Apr 04
07/10/03 Jun 04
07/10/03 Aug 04
Composite Volume Open_lnt
07/09/03 23227 116370
Pork Bellies
Date
07/09/03ASH* 0107001070010700+400 0 0
07/10/03 Jul 03 9710 9810 9680 9715 +2O 394 1282
07/10/03 Aug 03 9400 9500 9350 9385 +lO 560 2197
07/10/03 Feb 04 8250 8400 8250 8255 +5 11 130
07/10/03 Mar 04 8380 8380 8275 8275 -25 0 5
07/10/03 May 04 8460 8460 8460 8460 unch 0 2
Composite Volume Open_lnt
07/09/03 965 3616
Oats
Oats
portedly, users are already looking at
NDM as a less costly substitute. (Particu
larly in light of CCC’s “powder-for
cheese” program, which may find the ex
changed NDM on the market later this
month.) There is also concern about Class
II condensed skim prices for August.
The fluid cream market remains very
firm and prices are increasing. Demand is
back to normal levels after a slight lull
during the holiday weekend. Multiples
are increasing and the CME butter aver
age did jump more than a penny last
week. Locally, supplies are often short of
needs and suppliers continue to bring in
more loads from Midwest and Western
producers. Production of ice cream, soft
serve mix, and frozen novelties are all at
seasonal peaks. The hot weather has
given a boost to soft serve and novelty
sales. Cream cheese output is steady.
Some producers continue to look for more
cream, but prices are becoming prohibi
tive. Bottled cream sales are holding fairly
steady. Churning activity is easing as
cream supplies tighten.
~ Previous Previous
Open H.gh Low Last t hge Vo|ume op( . n , nl
0 0
1460 3656
5204 16922
2991 11330
337 5506
135 1258
75 872
7 202
20 293
2 36
0 607260726072
6330 634062506282
6537 658064906550
5827 589058055880
5562 5595 55205587
5790 582057625807
5980 599559405985
6215 623562156230
6375 639063606385
6200 624062006240
~ , i tr'u Previous Previous
Open High Low Last Chge Vo , ume open
0 0
52 512
11215 53517
2 262
30348
19556
7494
3559
1120
0 740074007400 unch
7255 728572307232 -23
7105 714070557115 +8
7120 721571207215 +45
7195 725071507245 +43
7382 743573657430 +3B
7490 753574707527 +27
7450 7527 7445 7525 +2B
6950 6977 6935 6972 +35
6850 685068506850 -230
Open High Low La S tChge Vffl|(imeop(!n
155 154 154 3/4 a J 154 3/4 +6
3 1/4 130 131 1/2 a 131 1/2
" i 3i — r' l311
132, 130,
| ~
j 141 aj 141,
[ 143 1/2 b 143 1/21
+5
6233
3714
1110
553
348
Previous Previous
137 a |
137
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 2.92 bu., 5.22 cwt.
Wheat, N 0.2 2.97 btL, 4.96 cwt.
Barky, No J —1.78 bu., 3.80 cwt.
Oats, N 0.2 1.97 bu., 6.14 cwt.
Soybeans, No.l 5.93 bu., 9.91 cwt.
Ear Com 88.40 ton, 4.42 cwt.
Alfalfa Hay 123.75 ton, 6.19 cwt.
Mixed Hay 117.50 ton, 5.88 cwt.
Timothy Hay 157.50 ton, 7.88 cwt.
.22
-20
-26
+4
h-WV.ft