Al6-Lancaster Farming, Saturday, September 13, 2003
GRAIN, CATTLE, HOG,
& MILK BFP
FUTURES MARKETS
Markets Courtesy of Chicago Board and Mercantile Exchange
Closing Bids: Thursday, September 11, 2003
Com
[Month Opening [High Low Closing Settle - Net Chg
loaSepT] 235 1/2 [235 1/2 2251 228 M7]2271/2| -74
jo3Dec [ 242 1 242 [232 l/2 r 233 1/4 2321/2 [ 233 [ ' -92
04Mar [ 249 [' 249 [240 1/4 240 3/4[240 1/4 [240 1/2[ -86
04May 251 [251 1/2 [243 3/4(244 1/4 243 3/4 f~ 244 -80
[o4Jul 253 1/2 253 1/2 }2461/4 [246 1/2 246 1/4 ]246 1/21 -74
04Sep 247 247(2421/2 [2421/2] [2421/2 [ -44
|o4Hec | 242 244 l/21 242 f 242] ’-16
OSMar 2481 248 246 3/4 247 3/4 [ 247 3/4 -14
05Jul[ f 254 j 254 f 253 253 \ 253 -10
|osDec '.[~ ~[~ 7 ~ 238 n[~~ ' 238 -4
[Month', Opening [High Low : ‘ ]./Cl6sing S^tjU^
Soybeans
[Month I Opening [High Low , Closing . " Settle . ~j]^t;Chg
|o3Sep [ 649 j 649 f 63 5 [637 l/l f [637 1/21 +2lO
|o3Nov [ 630 j 630 j 614(616 1/2 [ 615 [615 3/41 +192
04Jan | 626 629 615 3/4 617 616 1/2 [6163/4 [_]_+! 76
04Mar[ 627 627 610 611 1/2 610 610 3/4 +l6O
04May 600 605 597 1/2 5991/2 598 1/2 599 +136
[o4Jul ( ’ 6011 603f594 1/21 596 [5941/2 [595 1/4 f +ll2
[o4Aug[ 587] 589] 580 [ 580 [ [ 580[ +9O
[o4Sep [ '573f573 ’ 564]560b 564a[ 564 +9O
|o4Nov [ ] 550 f 553 5391/2 541 [~ 541 +54
iMonthjOpenlngjHighLbw _ Clodtng t t i w tt
Soybean Meal
[Month [Opening [High Low Closing ' Settle ftfet C?hg
03Sep [ 217.0 217.01204.5] 205.5 f 206.5 [ 206.0 f +4
|o3Qct j' ’ 197.0:197.51191.4 f 192.2 ! 192.3 192.2 _~'_+43
}o3Dec | 195.0 196.0 j 189.61 190.6 190.3 190.4] +3B
j 0 f 195.5 [195.5 j 189.2 f 190.0 f 190.0 +36
04Mar f ~ 193.0 193.5 f lB7.7 1 188.2 188.3 188.2 f] ]+ 29
|o4May} 0.0 1° 0 185.0 185.2 185.1 +2l
fo4jnl f I9> J 184.5 ' 184.51 +l5
|o4Aug i J r | \9~ ' [jlBo-0[ '] ] + 15]
190.0 |190.0| 184.7 f
189’oj 189.51183.81 184.5 |
183.0 1183.0 [ 180.0 j 180.0
179.51179.5[174.0|174.0 b 1174.1 af
164.5 [165.0 164.0 [164.0b164.2a \
[l62-0 ( 162.8 !
04Sep
|o4Oct J‘
[o4Dec
[Month [
[Opening [High [Low [ Closing
Sept. 5,2003
CORRECTION TO MY January through May 2003 was
ARTICLE, ‘STRANGE AND “4.8 billion liters, up 331 percent
INTERESTING FACTS relative to the same months a
REGARDING year ago.” Sorry, but that num-
DAIRY TRADE’ ber should have been “4.8 million
I received a few comments liters.”
about an earlier report I issued I’ve gone back and updated
regarding dairy trade. In my July the data. For the first six months
25 weekly market report I wrote of this year, imports of fluid milk
that mrtifilahve fluid milk im- 'that has t-<j petrem butterfai was
ports (1-6 percent butterfat) for
174.1 f
164.1 r
-14
I 162.8
-17
|Net Chg
Settle
4.8 million liters, up 306 percent
relative to a year ago. The major
source for fluid milk shipments
into the U.S. is Canada. Surpris
ingly, we also received a dab of
fluid milk this year from Ger
many, the Russian Federation,
and that other major fluid milk
producing country, the Philip
pines (hence my title, “strange
and interesting facts”)-
The first question I have been
asked is, what is your data
source? The only data source
available for dairy imports is U.S.
Customs. They provide their data
to other U.S. agencies. Both the
USD A and the U.S. International
Trade Commission have created
Websites that will allow you to
download this data. USDA’s
Website is http://
www.fas.usda.gov/ustrade/
USTImHS6.asp.
There are two major problems
looking at dairy trade data (actu
allv (here are many) First, wha
Lean Hogs
Date
09/10/03 *CASH* 0 556455645564 +ll7
09/11/03 Oct 03 5960 612059156037 +ll5
09/11/03 Dec 03 5850 595057905905 +7O
09/11/03 Feb 04 5860 59505855 5942 +9O
09/11/03 Apr 04 6005 6025 59706025 +4O
09/11/03 May 04 6320 635063206345 +25
09/11/03 Jun 04 6517 656565176565 +25
09/11/03 Jul 04 6235 628062356252 +22
09/11/03 Aug 04 5990 601059905997 +lO
09/11/03 Oct 04 5300 537053005365 unch
Composite Volume Open__lnt
09/10/03 12260 49757
Live Cattle
Date
09/10/03 *CASH* 0 886788678867 +B5
09/11/03 Sep 03 8950 906589509065 +ll5
09/11/03 Oct 03 8695 883086958807 +127
09/11/03 Nov 03 8470 864084708637 +ll7
09/11/03 Dec 03 8412 853084058520+113
Feb 04 8175 8295 81708292 +122
Apr 04 7927 800079277997 +7O
Jun 04 7390 744073907435 +45
Aug 04 7285 735072857340 +55
Oct 04 7500 754075007525 +25
09/11/03
09/11/03
09/11/03
09/11/03
09/11/03
Composite Volume Open_lnt
09/10/03 28912 126918
Pork Bellies
Date
09/10/03 *CASH* 0 820082008200 unch
09/11/03 Feb 04 8920 908088909020+123
09/11/03 Mar 04 8905 903089058985 +95
09/11/03 May 04 8960 896089608960 unch
09/11/03 Jul 04 9325 936093259360+120 0 26
09/11/03 Aug 04 9250 925092509250+650 0 0
Composite Volume Open_lnt
09/10/03 432 2012
Oats
Opening
[Month, [High Low’
03Sep f 137 1/2 [ 137 3/4 f ~136| _
[o3Dec(l47 1/2 [ 147 l/i\~ 139 [139 1/4
[o4Mar f "152[" 152f145 l/4(145 1/2
153 150|
155 r_:i54f 154 a
04May
|Q4JuT]" ~
04Sep |
04Dec [~
153
' 155 r
1 ~
I Month [Opening [High Low Clo:
are the “codes” that must be en
tered into the USDA Website?
These are called HTS codes for
Harmonized Tariff Schedule. The
HTS code for fluid milk (1-6 per
cent butterfat) is HTS 040120.
The second problem is this data
for fluid milk is reported in “lit
ers.” In the U.S. we publish fluid
milk data in measures of pounds
(not to be confused with imperial
pounds). So it becomes difficult
to compare imports with domes
tic numbers.
So, if we imported 4,790,003
liters during the first six months
of 2003, is that number signifi
cant compared to U.S. fluid milk
consumption? First, let’s convert
from liters, a measure of volume,
to metric tons, a measure of
weight. Simply multiply by 1.03
(approximate density of milk) to
convert milk at 1-6 percent but
terfat from liters to kilograms. To
convert kilograms to metric ions,
.. . , . , Previous Previous
Open High Low Last Chge Vo|ume op e„_l„t
0 0
5847 21763
5205 18949
845 5456
227 1862
21 410
67 838
30 302
13 138
5 38
. , , . Previous Previous
Open High Low Last Chge Volume ope „
0 0
78 232
13900 45969
30 69
10265 41453
3169 21134
736 13656
627 4093
104 277
3 34
« LI , Previous Previous
Open High Low Last Chge volume Open Jnt
0 0
425 1933
7 36
0 17
(Turn to Page A 33)
[Settie
ClO!
ting nj
r t ■ i 36
139 [139 1/4
145 1/4 f 145 1/2
136 a
150
| 154'
T
. _l ‘
155 n
153 a
sing (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 2.76 bu., 4.95 cwt
Wheat, N 0.2 3.42 bu., 5.71 cwt.
Barley, N 0.3 1.88 bu., 4.02 cwt.
Oats, N 0.2 1.81 bu., 5.63 cwt.
Soybeans, No.l 5.63 bu., 9.39 cwt,
Ear Com 85.48 ton, 4.27 cwt.
Alfalfa Hay 116.25 ton, 5.81 cwt.
Mixed Hay 126.25 ton, 6.31 cwt.
Timothy Hay 123.75 ton, 6.19 cwt.
Net Chg
-60
-601
-50 1
-541
150
-60
155
153
-30 J
Unch