Al6-Lancaster Farming, Saturday, August 16, 2003
GRAIN, CATTLE, HOG,
FUTURES MARKETS
Markets Courtesy of Chicago Board andUMercantile Exchange
Closing Bids: Thursday, August 14, 2003
1/4 ' 222 218 1/41 2191/2 [220 3/4
230 1/41231 3/4 227 3/4 ( 229 1/4 I 230
freffjWEiWffi
jPHBP 238 239 1/4 [235 1/2 ~ 237 f 237 1/2
RH! 242 1/4 243 m[ 24#'
|P9P>I 244 246 : 242 244 1/4 |2441/2
•Slti MO 1/2 241 239 1/21 240 1/2 1
Com
242 3/4 243 3/4 242 1/41 2431/4 2431/2
2471/4 249 2471/4, 249
oilfci
Odßee
253 1/4 254 253 254
Mofljh o|Kning High
Soybeans
Month Opening High
03 A tig 570 583
o i&m
548 1/2 554
546
549 554 1/2
551 [555 1/2
Soybean Meal
Month .Opening .High
03Aug 180.5 183.6
03Sep
03Oct
174.
170.
03Dec
04Jan
170.
171.
04$&jr
171.
171.
Aug. 8,2003
CLASS 111 PRICES
EXCEED $l4 PER CWT!
What a difference a month
makes. This week at the Chicago
Meicanfile Exchange, block
cheese puces staved at $1 60 pei
I mod hand cheese was $1 sS
jii pound 1 ven butt cm pnia -
ueii highei fiiadv V \ bnt'u
uagtd "kt .’P7 pei pound loi the
(j k
& MILK BFP
■ ■'' ?*■; ■ ,v k- */ 'r* - ' t - -a-*'.
« 5? ''T- -
239 1/4 n
ftttt 'W«
Closing '
564 583
546
t
543
547 1/2
551
~ 549 f 552 [553 1/2 [5523/4~f +46
547 549 3/4 551 [550 1/4 +3O
550 [ 552 ] ‘ "553 [552 1/2 [~ +24
552 1/2
555
176.5 177.0
175.6
173.0 174.4
169.8 171.0
172.2
169.2 170.6
171.5
170.1, 171.2 i 171.0
172.0
170.7
172.2
170.5 171.5 j
1172.7
172.0
3.2 1
172.0
The Class 111 futures at the
Chicago Mercantile Exchange re
flected bullish market conditions.
As of Aug. 8, 2003, August Class
111 futures were $13.80 per CWT.
Septemhei Class 111 futures were
$14.60 per CWT. 1 hereafter,
putt's fell m f)12.48 pci C'WI In
I Vctmbei
! i't miiikets are reading to nia recoveis and mill output in
-1 '.l r L’l! ’J ILI 9 ! v .vc.- c.*
242
551 ,552 1/2 ,551 3/4 1
548 j 549 1/2 548 3/4 i
552 553 |552 1/2
551 n
539 n
176.8 176.9 *3B
174.5 *3
174.7
170.8
170.3
171.7 !
172.5
220 [~Unch
Unch
229 1/2
2371/4
+2
242
+2
f 244 1/4 [
i 240 1/21
+2
+2
12431/21 Unch
2491 Unch
254 Unch
239 1/4
+6
583
+ 184,
+44
+5O
+52
+ 10
551
53!
-30
170.9
170.5
171.1
171.71 +1
171.5 j
+2
172.6
ifomia did someserious damage
to milk output. Plants are report
ing that deliveries in July were
down from a year ago, and com
ponent levels were lower. We’ll
know more when the Milk Pro
duction report is released next
Friday. The cheese market is con
cerned that problems in Califor
nia could result in reduced U.S.
cheese supplies later this fall.
A quick look at 5-year average
prices indicates that for the
months August through Decem
ber of this year, the Class 111 fu
tures markets are offering very
favorable opportunities to lock in
milk prices. Any time Class 111
prices exceed $l4 per CWT,
dairy producers should consider
using the futures markets.
In terms ot strategy, producers
may want to considei protecting
September thioupli December
milk marketings. Those prices
ate cere iavoiahie light now and
uio'e likilv to decline i( ('aiifoi-
Lean Hogs
Date
'CASH' 15 0 585758575857 +157
Aug 03 6010 6025 5987 6012 +32
Oct 03 5280 528552055215 -92
Dec 03 5117 5125 50655087 -45
Feb 04 5480 549054205430 -72
Apr 04 5822 582257705790 -45
May 04 6100 610060406070 -47
Jun 04 6225 627062206222 -33
Jul 04 6035 603560076007 -23
Aug 04 5852 587058505870 -15
08/13/03
08/14/03
08/14/03
08/14/03
08/14/03
08/14/03
08/14/03
08/14/03
08/14/03
08/14/03
Composite Volume Openjnt
08/13/03 4690 38102
Live Cattle
Date
08/13/03 *CASH* 0 787178717871 unch
08/14/03 Aug 03 7765 780077407772 -15
08/14/03 Sep 03 7800 785077757830 -5
08/14/03 Oct 03 7675 773076557717 +25
08/14/03 Nov 03 7750 775077507750 unch
08/14/03 Dec 03 7777 779577457790 +3
08/14/03 Feb 04 7762 778577507775 -2
08/14/03 Apr 04 7630 764576107627 -3
08/14/03 Jun 04 7150 717071407150 unch
08/14/03 Aug 04 7150 715071307130 +3O
Composite Volume Open_lnt
08/13/03 8177 112374
Pork Bellies
Date
08/13/03 *CASH*, 0 820082008200 -600
08/14/03 Aug 03 8780 885085508845 -5
08/14/03 Feb 04 7860 80507832801? +157
08/14/03 Mar 04 7825 7825 7825 782 S unch
08/14/03 May 04" 7950 795079507950 unch
08/14/03 Jul 04 8010 801080108010 unch
Composite Volume Open_lnt
08/13/03 532 1645
Oats
Month Opening High Low Closing
138 1/2
SPOT PRICES OF CLASS II CREAM, dol
lars per lb butterfat: F. 0.8. producing plants:
Northeast; 1.6721-1.9145. Delivered Equivalent;
Atlanta: 1.6964-1.9145 mostly 1.7448-1.8660.
PRICES OF CONDENSED SKIM, dollars
per lb. wet solids, F. 0.8. producing 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 75, Out 0; Last Week
In 61, Out 0; Last Week In 68, Out 0. SOUTH
EAST 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
Regional Milk Market Administrators an
nounced the following, Julv 2003 uniform
prices Northeast $l2 46 Mideast $ll6B
Southeast $l2 47 and Florida $l3 46 (foi the
Nonheast and Mid cast, statistical uniform
pilees lie Kpolled )
Milk piodiKtion continue'. to cast io\ui in
most pnh »J the icgion Kuo pushed this
\uck iluoughout much ot »he umuii and hu
nmlitv level* were high from \uivnm tu I lon
do Juripe! tunes have been s a i uo<n hut tlu
... . ■ . Previous Previous
Open High Low Last Chge Volume open
~ ..... . . A Previous Previous
Open High Low Last C hge , ,
r b Volume Open_lnt
0 0
1131 6594
50 516
4302 58401
0 7
1712 22794
649 15064
294 7072
37 1866
1 58
„ Previous Previous
Open High Low l.astChge volume Open Jl.t
0 0
244 727
' 879
2jT' 30
0 4
4 5
East Fluid Milk
And Cream Review
Madison, Wis.
August 13,2003
Report Supplied by USD A
Settle '
138 1/21 -14
142 1/41 -6
i )
148.1/4 -12
142 |
142 1/4
148 1/4
154 b 1155 a
154 1/2
149 b) 150 a 149 1/2
| 144 b|l46 a ' JMW f
[ 149 b i lSl a ||^^|jpjjj|ji
Fat and protein test remain seasonally low.
Fluid milk demand is improving, particularly
in the Southeast where many schools are back
in session this week. School openings are
“spread” over three to four weeks, starting in
the South and working north where most
schools open after Labor Day. Milk imports into
Florida are increasing, but contacts expect vol
umes to jump next week when the majority of
schools reopen. Milk is being shipped from
Texas, Pennsylvania and Michigan this week.
In the Northeast, milk supplies are tight, but
contacts are preparing for tighter volumes when
school pipelines get filled, late this month.
The condensed skim market is mostly steady.
Class II and 111 prices are unchanged and a few
spot sales were reported. Most Class 111 users
have switched to NDM as a lower cost source of
solids.
The fluid cream market remains firm. Spot
prices are steady to lower as the CME average
butter price declined nearly a cent last week
Multiples are generally unchanged from past
weeks Offerings are light and loads from the
West continue to be shipped across the country
to supplement local availabilit) Demand tor
cream is good, but the summer season is wind
mg down and mans ne cream manufai luicis
aic picparmg lo icducc opciation- altu I abor
I) iv lln vs aim muggv weather is helping soft
'tntmiv consumption Cicam cheese output is
little hinged In m p isi weeks bottled e»e un
sale .in slowing slight Iv < limning aetivnv is
0
3518
21530
8427
2413
1304
281
415
173
41
0
809
2985
606
193
80
7
8
2
0
-4'
-4
Unch