Al6-Lancaster Farming, Saturday, August 30, 2003
GRAIN, CATTLE, HOG,
& MILK BFP
FUTURES MARKETS
Markets Courtesy of Chicago Board and Mercantile Exchange
Closing Bids: Thursday, August 28, 2003
Com
! Month | Opening {High {Low I Closing
230 230 1/2 228 1/2 230 1/2 229 3/4
io3Sep i
io3Dec
238 239 1/4 236 238 3/4 239
04Mar | 243 3/4 245 1/2 242 1/2 245 1/4 245
)04Mayi :
04JuT,
246 1/2 248 1/4 245 1/4; 247 3/4 ,248 1/4
246 248 1/2 249
247
04Sep
242 242 1/2 241
241 1/4
jo4Dec
OSMar 1 247 1/2 249 1/2 247 1/2 249 1/2
05Jul
|osDec
Month Opening High ;Low j
Soybeans
Month Opening High
03Sep
lo3Nov i
584 591 1/4 584
582 3/4 588 3/4,581 1/21
04Jan j
04Mar J
04May
584 1/2 590 583 1/4
581 1/2 585 1/2 579 3/4
574 578 572 1/2
04Jul 575 577 1/2 573 > 577 577 1/2 577 1/4
04Aug 570 571 570 570 1/2 b 572 a 571
|o4Sep
lo4Nov j 540 541 534
;Month {Opening [High Low j
Soybean Meal
Month j Opening High Low ,
i 96.7 200.5 1 196.3'
03Sep '<
lo3Oct f
185.3 186.8 184.0'
fo3Dec
183.5 184.7 182.0
[o4Jan '
183.5 184.7 182.4
!04Mar 182.3 184.0 181.9
|o4May |
jo4jul |
180.0 181.5 179.3
179.5 181.5 179.5
04 Aug
177.5 179.0.177.5 179.0 b 179.1 a
|o4Sep I
04Oct
!04Dec ;
177.0 177.5 175.5 1 177.0 b 177.1 a
170.0 170.8 170.0! 170.5 b 170.6 a
Month iOpening High Low |
Aug. 22,2003
CHEESE STOCKS LOWER
• American cheese down 4
percent.
• Butter stocks still growing.
• Cash and futures markets
holding.
This week I attended a dairy m milk shipments,
industry conference and had a The market appears just as
chance to speak with my fellow confused as my survey. That
dairy economists and get the- »said. the dairy futures and - the
249
241] 243 1/2
244
254 3/4 n
240 n
Low
587 3/4 588 3/4
585 1/2 584
577 578
545 n 545 Unch
538 536 1/2 537 1/4, -14
Closing
200.3 200.5
186.5 186.8
184.7 184.5
184.3
183.7
181.5
181.5
1171.0 b 171.1 a
“scoop” on what is happening in
California. Some said there has
been significant heat damage to
the milk supply and that this will
show up in next month’s Milk
Production report. Others said
they did not notice any difference
Settle [Net Chg
230 t +lO
238 3/4 +l6
248 3/4 1
2421/4 +22
242 242 1/2
244
243 3/4
249 1/2
254 3/4 +24
Settle |Net Chg
Closing
Settle jNet Chg
590 1/2, +BO
588 1/4'
Closing
591
590
589 590
589 1/2
584 3/4;
577 1/2
Settle jNetCbgj
Closing
i Settle Net Chg 1
200.4 +54
186.6 +27
184.6 +25
184.3 +2l !
183.7 +2l
181.5 +23
181.5 +22
179.0 +23.
177.0 +23;
171.0
170.5
Closing iSettle 'Net Chgj
Lean Hogs
Date
08/27/03 *CASFF 0 4812481248J2
08/28/03 Oct 03 5435 551053805420
08/28/03 Dec 03 5330 536052705307
08/28/03 Feb 04 5550 555055055537
08/28/03 Apr 04 5775 585057755847
08/28/03 May 04 6150 618561206185
08/28/03 Jun 04 6307 639563006387
08/28/03 Jul 04 6100 614560926140
08/28/03 Aug 04 5895 592058905920
08/28/03 Oct 04 5365 5365 53405340
245 +l4
+ 14
248
Composite Volume Open_lnt
08/27/03 5823 38575
+l6
Live Cattle
+24
Date
+22
08/27/03 "■CASH' 1 ' 0 819481948194 +94
08/28/03 Aug 03 8490 8490 83808405 unch
08/28/03 Sep 03 8370 8385 8267 8330 +4O
08/28/03 Oct 03 8265 83208185 8205 -25
08/28/03 Nov 03 8100 810081008100 -30
08/28/03 Dec 03 8095 8115 80108020 -97
08/28/03 Feb 04 7980 7985 79157930 -57
08/28/03 Apr 04 7765 778077107715 -67
08/28/03 Jun 04 7275 7275 72207240 -42
08/28/03 Aug 04 7250 725072007210 -15
+2O
240
Composite Volume Open_lnt
08/27/03 17387 122144
+74,
+72
+56
Pork Bellies
Date
+52
+46
+7O
08/27/03 *CASH* 0 800080008000
08/28/03 Feb 04 8515 8535 83508417
08/28/03 Mar 04 8350 835083508350
08/28/03 May,o4 8480 848084808480
08/28/03 Jul 04 8650 865086508650
08/28/03 Aug 04 8497 8497 8497 8497
Composite Volume Open_lnt
08/27/03 227 1600
Oats
Month Opening |High
Q3Sep 134 136 1/2
Q3Pec | 139 1/2 141 1/4 138 3/4 j 140 1/4 140
04lS4ar 145 1/4 146 3/4 j 145 1/4 j 146 1/4 a
04$$ayf “ 151 ] 151 1511 151
feET" ~ ‘ ‘ "" “
04Sep 1
04Dec j
+5
+5
[Month | Opening! High [Low i
cash markets for butter and
cheese at the Chicago Mercantile
Exchange are still pretty firm.
Block and barrel cheese aver
aged $1.60 and $1.5675 per
pound, respectively, at the Chica
go Mercantile Exchange. Grade
AA butter dropped a penny a
pound by Friday, but averaged
$1.1467 per pound. Only one car
load of barrel cheese and six car
loads of 40-pound block cheese
traded hands this week. The
market is taking a “wait-and
see” approach to market uncer
tainty.
USDA’s Cold Storage report
may be adding more mystery to
the outlook. As of July 31, 2003,
butter inventories were up 12
percent over a year ago to 275.3
million pounds. American cheese
inventories were down 4 percent
to 550.4 million pounds. Total
cheese was down 3 percent to
809.1 million pounds.
Recall that milk production
u- u i w Previous Previous
Open High Low Last Cnee ~ . ~ ,
b Volume Open_lnt
0 0
3327 23133
1637 9612
466 3255
222 1458
18 307
70 494
32 214
29 74
22 28
.. ..... . Previous Previous
Open H.gh Low Last Chge Vo|ume Open In.
0 0
762 941
63 619
5430 57728
0 16
6127 30901
2760 17651
1973 11568
271 2646
1 73
~ , ¥ T Previous Previous
Open High Low Last Chge Volume ope „
0 0
225 1538
1 30
0 11
1 21
0 0
iLow
and cheese production were very
strong last year. So these slight
drops may not represent much of
a shortfall. Put another way, it
may not suggest we have been
selling lots and lots of cheese.
The futures market is still con
vinced that cheese prices will rise
through the fall months. As of
Aug. 22, 2003, Class 111 futures
are expected to be $13.77 per
CWT for August, $14.20 per
CWT for September, $13.95 per
CWT for October, $12.80 per
CWT for November, and $12.23
per CWT in December.
While the futures prices have
dropped a bit, they are still aver
aging $0.95 per CWT above the
5-year average prices for August-
December. It is always a good
idea to consider locking in milk
prices when they rise above the
's*-year average. .* • •... . .
unch
-98
-100
unch
unch
-3
i Closing
134 ( 135 3/4
I 150 n
149 n
150 n
Unch
Closing {Settle Net Chg
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 2.71 bu., 4.85 cwt.
Wheat, N 0.2 3.37 bu., 5.62 cwt.
Barley, N 0.3 1.88 bu., 4.02 cwt.
Oats, N 0.2 1.81 bu., 5.64 cwt.
Soybeans, No.l 5.44 bu., 9.08 cwt
Ear Corn 87.69 ton, 4 39 cwt
Alfalfa Hay 114.25 ton, 5.71 cwt.
Mixed Hay 112.50 ton, 5.63 cwt.
Timothy Hay 132.50 ton, 6.63 cwt.
Settle iNet Chg
135 3/4 +4
140 +l2
+ 10
146 1/4
! 151
+34
150 Unch
+4O
149
150
- *.t * , t