Al6-Lancaster Farming, Saturday, July 19, 2003
GRAIN, CATTLE, HOG.
& MILK BFP
FUTURES MARKETS
Markets Courtesy of Chicago Board and Mercantile Exchange
Closing Bids: Thursday, July 17, 2003
Com
208!208 3/4 f” iw\m l/4i207 1/4^^^j
WPP 212 212 3/4'211 1/4 211 3/4 [2ll 1/2 fell 3/41 Unchl
221 221 1/4 220 220 [220 1/4 [220 1/4 f 'Unchj'
227 1/4'227 1/4, 226 226 [226 1/4 [226 1/4[~ Unchj
3/4 231 230 230 T [ " 230 -2 1
233 233 232 232 , 232 -10'
ffifitT 237 237 1/4 2361/4,2361/2; 2361/21 -61
242 242 241 1/21 241 1/2 1 '241 1/2 i -6
2381/2 n 1 2381/2: -10
Mofifli Opening High Low .
Soybeans
Month Opening High Low Closing Settle .Net Chg
03Aug 585 1/2 586 1/2 571 1/2 573 1/2 572 572 3/4 -92
03Sep 544 1/2 549 536 1/2 539 1/2 538 1/2 539 -62
03Nov 523 525 1/2 514 1/4 516 1/2 517 1/2 517 -54
04 Jan 525 1/2 529 518 521 520 520 1/2 -46
04Mar 531 531 521 523 1/2; 523 1/2 -501
04May! 526 526 522 524 j 523 1523 1/2, -70
04JuF 1 532 532 525 1/21 526 ,5261 -64
,04Aug 538 538 5291 529 ! i 529, -601
04NOV I 528 528 520| 521 bj 522 ajs2l_l/2 -84 1
Month Opening jjHigh -Low [
Soybean Meal
Month Opening High Low Closing Settle Net Ch^
03Aug 182.8 183.5 180.1 180.8 181.0 180.9 -9
03Sep 171.0 172.1 168.8 169.6 169.3 169.5 -7
03Oct 160.0 160.5 157.1 158.3 158.2 158.3 -10
03Dec 159.2 159.5 155.6 156.5 156.7 156.6 -16
04 Jan 159.6 159.9 156.6 157.2 157.3 157.3 -17
04Mar 160.7 161.0 158.0 159.0 159.0 -12
04May 160.8 160.8 158.5 159.5 159.5 Unchj
04Jul i 162.5 162.5 159.7 161.0 bj 161.1 a 161.11 -8
;04Atig j 160.0 161.0 159.5 160.8 b 161.0 a 160.91 +3
!04Sep['1 159.5 j 161.0 j 159.5 j IhO.O b r l60.5 a 160.3 r -2
foliar 158.0 158.0 156.0 156.0 b 156.5 a 156.3 -7
SSBSfc'r” 159.0 159.0 ri57.0f157.0 b[157.5 a i57.3| -7
mmm
July 14,2003
MILK FUTURES
CONTINUE TO CLIMB
• September Class 111 futures
at $13.59.
• Dairy processing slows.
The market continues to show
price enhancement. Block cheese
prices at the Chicago Mercantile
Exchange averaged $1.5120 per
pound for the week ending July
11, 2003. Barrel cheese averaged
$1.4760 per pound, and Grade
AA butter was $1.1667 per
pound.
These higher prices are also re
flected in the dairy futures mar
kets. The Class 111 futures at the
Chicago Mercantile Exchange
are now above $l3 per CWT for
the months August through Oc
tober. The July Class 111 futures
Lean Hogs
Date
07/16/03 C ASH
OT/17/03 Aug 03
07/17/03 Oct 03
07/17/03 Dec 03
07/17/03 Feb 04
07/17/03 Apr 04
07/17/03 May 04
07/17/03 Jun 04
07/17/03 Jul 04
07/17/03 Aug 04
Composite Volume Open_lnt
07/16/03 8589 40419
Live Cattle
Date
07/16/03
07/17/03
07 /1 7/03
07/17/03
07/17/03
07/17/03
07/17/03
07/17/03
07/17/03
Composite Volume Open_lnt
07/16/03 24290 114161
Pork Bellies
Date
07/16/03 *C ASH* 0107001070010700 unch
07/17/03 Jul 03 9660 9660 9462 9520 -90
07/17/03 Aug 03 9075 9075 8950 9022 -53
07/17/03 Feb 04 8005 8045 ?992 7992 -18
07/17/03 Mar 04 8005 8005 8005 8005 unch
(F//17/03 May 04 8300 8300 8300 8300 -100
Composite Volume Open__lnt
07/16/03 1413 2999
Oats
Mouth Opening High Low
03Sep
03Dec
04Mar
,04May
04Jul J 143 n Unch
Mwtth Opening High Lowc;^:
price is at $11.85 per CWT,
about $2.10 above last month’s
price. Dairy producers interested
in protecting future revenue may
want to think about locking in a
portion of their milk production
for the months of August through
December.
The market is reacting to a re
duced milk supply. In addition,
component levels typically drop
this time of year and somatic cell
counts rise. That makes for a
tighter market for dairy inputs.
The Dairy Products report issued
by USDA earlier this month indi
Sixteen-new dairy farms have been chosen
as Dairies of Distinction in Pennsylvania
this year. Be sure to check out these
picturesque and well-managed farmsteads
in Lancaster Farming’s Dairy of Distinction
issue July 26. Each farm will be shown in full color with a
write-up describing the family and dairy operation.
••• h%»»«««t>%»*ki»«tft««it»kktlft»ftfit« 4itiiit*|*killl«llli4til«44<4*ii4j
~ U- UI I Previous Previous
Open High Low Last Chge Vo , ume Qpcn
0 0
4350 13825
3532 15675
432 6032
221 1478
22 897
217
303
104
0 571657165716
6275 629761556232
5560 561054875565
5400 541053055365
5730 573056225715
5920 595058005947
6100 616060806160
6300 630062356297
6110 611061106110
6100 610061006100
Previous Previous
Open High L..,v Last Chge Vo|ume open lnt
0 0
103 442
10764 41289
22 268
7376 37958
3902 20186
1470 8922
594 3880
58 1216
‘CASH* 0 731073107310
Jul 03 7400 745073707405
Aug 03 7262 734272357265
Sep 03 7350 735073007340
Oct 03 7395 745073407405
Dec 03 7552 758275177535
Feb 04 7610 763775607607
Apr 04 7600 760575557600
Jun 04 7015 704569906995
Open High
128 129 1/2 126 1/4 128 1/2
128 1/2 129 3/4 127
133 1/2 135 133 1/2
cated that butter production in
May 2003 was down 8.7 percent
from a very high level last year,
and total cheese production was
down 1.1 percent. American-type
cheese production in May was
down 3.3 percent.
The dairy markets will closely
scrutinize Thursday’s milk pro
duction report. It may confirm
market expectations that the
milk supply is tightening, partic
ularly out West. But then again,
it may also indicate that cow
numbers have not declined as
much as expected. Stay tuned.
, Previous Previous
" aS VolumeOpen_lnt
Low
Closing
129
129 129 1/4
135 b
139 n
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.
Dairy
of fl|
Distinction
3
17
0
+ 10
+35
+65
+5
+4O
-5
+5
-5
-17
182
1164
67
Settle Net Chg
128 3/4 f-22
129 +l4
135
139 Unch
1431
Average Farm Feed
Costs for Handy
Reference
Com, No.2y 2.86 bu., 5.16 cwt.
Wheat, N 0.2 2.97 bu., 4.% cwt.
Barley, N 0.3 1.78 bu., 3.81 cwt.
Oats, N 0.2 2.00 bu., 6.24 cwt.
Soybeans, No.l 5.92 bu., 9.88 cwt.
Ear Corn 88.19 ton, 4.41 cwt.
Alfalfa Hay 123.75 ton, 6.19 cwt.
Mixed Hay 111.25 ton, 5.56 cwt.
Timothy Hay 133.75 ton, 6.69 cwt.
656
2174
161
+ 14