Al6-Lancaster Farming, Saturday, August 9, 2003 GRAIN, CATTLE, HOG, & MILK BFP FUTURES MARKETS Markets Courtesy of Chicago Board and Mercantile Exchange Closing Bids: Thursday, August 7, 2003 Com u iBSBB S' : |SK: *MBF! OSJW. 211 1/2 219 227 (229 3/4, 2271 228 1/2 (228 3/4 232 1/4[234 1/4(232 1/41 233 1/2 ! 234 236 1/2 f 237 3/4 235 3/4 1 237 ! 237 1/2 2361/4 236 1/2 236 2391/2 240 239 245 245 1/2 244 1/2 250 250 1/4 250 Soybeans Month Opening,High 03Aug 538 1/2 545 1/2 03Sep omr 518 522 1/2 515 1/2 519 1/2 519 514 1/2 Soybean Meal Month Opening High Low 03 Aug 163.8 165.3 163.8 03Sep 160 03Oct 03Dec 04Jan 156 155 157 04Mar 159 160.3 i 162 04May 04Jul 04QiJ i 162 162 161 162 SMS East Fluid Milk And Cream Review Madison, Wis. August 6,2003 Report Supplied by USDA SPOT PRICES OF CLASS II CREAM, dollars per lb butterfat: F. 0.8. producing plants: Northeast: 1.6836-1.8910. Deliv ered Equivalent: Atlanta: 1.6836-1.9032 mostly 1.7324-1.8544. PRICES OF CONDENSED SKIM, dollars per lb. wet solids, F. 0.8. produc ing plants. Northeast: Class 11, includes monthly formula prices: .8500-.9300. Class 111, spot prices: 1.0300-1.1500. SPOTS SHIPMENTS OF GRADE A MILK: FLORIDA: This Week: In 61, Out 0; Last Week In 38, Out 0; Last Week In 52, Out 0. 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 1,2003. The following are the July 2003 Class and component prices under the Federal . *VW'7V ~V ".S' llt.j ,( l! ■»..-> • ,y *■> -■• I iiMBl-aitv.iilii 211 1/2 213 3/4 221 1/2(218 3/4 238 1/2 n Closing Low - !• Low Closing 535 544 1/2 541 1/2 519 511 1/2| 518j520 1/2 j 1521 1/41524 1/2 | i 525 1 527 529 1/2 _s3l 529 i/2[529 1/2 ~ 527 n j 530(531 1/2 IfMW'WiMJHI wCTHH 161.9 160.3 159.0 156.7 158.5 155.5 :.5 .0 159.2 156.8 161.0 158.7 161.8 159.5 164.0'162.0 163.8 162.0 163.1 b, 163.0 i 161.8 162.8 b| t ’ :A i.l ~51 1161.51161.0 161.0 bj 161.1 aj 161.0| 11I* _ _ i 162.5|162.0|162.0 bj162.1 a|l«2.o| maflawiit mmmmmmi • 5 I Milk Order pricing system: Class II $10.63 (up $0.17 from June), Class 111 $11.78 (up $2.03); and Class IV $9.95 (up $0.19). The following are the product price averages used in computing Class prices: butter $1.1196, NDM $0.8072, cheese $1.3497, and dry whey $0.1470. The Class II butterfat price is $1.2125 and the Class 111/IV butterfat price is $1.2055. Milk production continues to decline in the Southeast and, to a lesser degree, the Northeast. Heavy rains have plagued large areas of the Southeast and up the East Coast. The rains generally brought lower temperatures, but the resulting muggy weather is stressing the cows, fur ther reducing milk output. The Northeast is also seeing more rain this week, but the impact on the milk flow is not yet known. Fat and protein tests on incoming milk remain low. Demand for bottled milk is mostly steady in the Northeast, but improving in the Southeast where some schools opened this week. Many schools in the Southeast will reopen next week and bottlers are preparing to fill the pipelines;, Florida ..........^IIIIIIKKIII 212 1/2 212 220 3/4 ( 220 236 239 3/4 240 245 1/2 250 1/4 516 515 520 520 1/4 525 [524 3/4 i.r ■ n -- I Settle 164.8 i«4.7 164.7 161.2 161.0 157.8 157.9 157.1 157.3 158.2 158.4 160.3 160.0 160.8 161.0 163.8 163.2 a, 162.9 a! \.C> ,'s' 1 ' 1, 212 1/4 +6 + 12 220 1/4 228 1/2 +lO 1233 3/4 [237 1/4 + 12 + 10 236 i +4 240 Unch 245 1/21 250 1/4, 238 1/2; -4 543 1 +3O 519 1/4 ;515 1/2 +4 Unch +4 527 +6 531 529 1/2 ~ ’' 527 531 1/2 +6 -10 Net Chg * 161.1 157.8 4 7 157.2 + (0 158.3 +9 +9 160.1 + 1 1 160.9 4 19 163.8 +2O 163.1 162.8 + 15 + 141 + 12 handlers are importing more milk this week and contacts expect volumes to in crease during the coming weeks. Surplus milk volumes are generally light and easi ly cleared. Some producers of condensed skim comment that with Class 111 wet so lids prices so high, they have to step up drying schedules to clear the skim. The August Class 111 skim milk price is esti mated to be well over $9.00, up sharply from July’s $7.83, up $1.93 from June. Producers often base their condensed skim prices on estimates and then make adjustments after the price is official. Class II condensed skim sales are about steady, but mostly contractual. As one contact put it, ‘you can’t sell a pound of Class 111 at current prices.’’ Organic dairy production will be a highlight of the Sept. 20 Lancaster Farming Dairy Plus booklet. Scheduled: features on organic dairy farms and strategies for success in organic milk production from university. In addition, news and information frpm ( the bree.d assocjatipns. and cooperatives.. Lean Hogs Date 08/06/03 *CASH* 08/07/03 Aug 03 08/07/03 Oct 03 08/07/03 Dec 03 08/07/03 08/07/03 08/07/03 08/07/03 08/07/03 08/07/03 Feb 04 Apr 04 May 04 Jun 04 Jul 04 Aug 04 Composite Volume Open_lnt 08/06/03 11242 39050 Live Cattle Date -2' 08/06/03 *CASH* 08/07/03 Aug 03 08/07/03 Sep 03 08/07/03 Oct 03 08/07/03 Nov 03 08/07/03 Dec 03 08/07/03 Feb 04 08/07/03 Apr 04 08/07/03 Jun 04 08/07/03 Aug 04 Composite Volume Open_lnt 08/06/03 14253 112675 Pork Bellies Date 08/06/03 *CASH* Aug 03 9060 9100 89709055 Feb 04 7890 790578127825 Mar 04 7800 780078007800 May 04 8000 800080008000 Jul 04 8000 800080008000 08/07/03 08/07/03 08/07/03 08/07/03 08/07/03 Composite Volume Open_lnt 08/06/03 469 1801 Oats Month Opening High Low 03Sep 133 137 1/2 132 1/2 137 1/2 03Dec 137 3/4 141 3/4 137 1/2 140 3/4 04Mar 04May 04Jul °4Sep T" IAWi BBuSXIPr £%. 148 Mi i i i 150 Unch Unch Unch 145 150;