Alfe-Lancaster titling, Saturday' NovarnbeM, ‘2003 Com | Month | Opening JHigh Low j 03Dec 251 251 246| 04Mar! 255 255 25212521/2 04May 258 259,254 1/2 04Jul 260 260 >257 1/2 j |o4Sep 250 253 1/2 ~ 250 [2521/4 r 04Dec 248 3/4 249 3/4|247 1/21 jOSMarj 253 1/2 255 f’ 253 [254 1/2 | OSMay 255 3/4; 257 ,255 3/4 [ 257 05Jill 258,259 1/21 257j2581/2 |os6ec [ 245 ' 245 Month Opening [High [Low * GRAIN, CATTLE, HOG, & MILK BFP FUTURES MARKETS Markets Courtesy of Chicago Board and Mercantile Exchange Closing Bids: Thursday, October 30, 2003 Soybeans Month 1 Opening I High Low | Closing 03Nov 799 04Jan 802 04Mar 785 04May 748 04Jul , 725 710 04Aug | 655 04Sep | 04Nov i 596 595! 05Jan 05Mar [Opening [High [Low I Month Soybean Meal Month [Opening(High pLow 03Dec i 255.01256.51 252.3 252.2 255.0 j 250.0 247.0 251.0 [245.5 04Jan j |o4iVia]r! 234.0 : 238.0 • 232.5 228.51233.01227.0 220.61225.51219.0 208.51214.01207.5 |o4May• |o4Jui | |Q4AUg [ PSer ' . j-*”- ( ""y fwrj" ll '“"f ■ j— - r ~ 04Oct I 182.5 187.0 182.5 |o4Dec ' 178.5 183.6 1 178.5 iosJan ; 181.0 j 183.0 i 179.0 Month {Opening'High Low Oct. 24,2003 CHEESE PRICES SHOW SIGNS Of WEAKNESS • Barrel prices drop 2.5 cents/ pound. • Blocks still holding. Block cheese prices have been stuck at $1.60 per pound for the last few months. That’s good for dairy fanners. But how long will that last? 2561/4 256 3/4 2581/4 258 3/4 249 1/2 249 3/4 255 2451 245 : 802 788 l/2[792 1/2 794 1/2 805 7921/2 j 798 800 793 781 i 785,786 1/2 753 743 748 1/2 749 1/2 735 725: 730 733 714 705 705 1/2 706 1/2 664 b 665 655 5991 5941 5951 5951 594 n i 254.6 [254.8 | 254/7] ~ 252.5 |252.7 [ 252.6 1 1248.0 [247.3 j 247.7 [' 234.8 [234.2 f 234.5 T [229.5] ' 220.5 j 1208.8 1183.2 1179.5 :179.8 [179.6 1 179.0 ; ” j' 179.0 ! ; Closing 1208.8 | 1183.2 1 Will blocks strengthen or weaken in the weeks ahead? The Chicago Mercantile Exchange fu tures market indicates that cheese prices will begin to weak en during the last week in Octo ber. Barrel cheese prices fell a few pennies by week’s end. American cheese production through August has been down ' I.7‘percent relative to a year ago. Closing Settle 247 3/4 252 3/4 248 247 1/2 253 256 1/2 258 1/2 [252 1/4 249 1/2 '254 3/4 i 257 [258 3/4 259 [Settle Closing (Settle 793 1/2 799 785 3/4 749 731 1/2 664 1/2 665 a 598 |596 1/2 595 595 595 j i Settle Closing 'saggissraai 1 Closing 1229.5 f 220.5 [ I I |Settle Net Chg Net Chg ! -4 +2 : +2 I Unch +4' I +6 | +lO ' Unch ] Unch r * 245 +2 [Net Chg ;Net Chg -64 -44; -36 + 10 +34 +54 706 + 104 +501 +3o] +6o' 594 Net Chg -1 Unch Unch! +3 : +5, + 1 With heat stress in California and poor forage quality in the Northeast, there is no reason to believe that the U.S. milk supply, and hence cheese production, will rebound significantly this year. I’m projecting that American cheese production for September through December will remain just below year-ago levels, if that high. Imports of American cheese through June were up just over 10 percent. However, cumulative American type cheese imports were just 40.6 million pounds, small enough not to impact U.S. supply and demand. Commercial ending stocks for American cheese in cold storage facilities fell to 514.9 million pounds. Of that amount, 8.8 mil lion pounds were Government owned. Thus net inventory in commercial channels was below year-ago levels. Lean Hogs Date 10/29/03 *CASH* 10/30/03 Dec 03 10/30/03 Feb 04 10/30/03 Apr 04 10/30/03 May 04 10/30/03 Jun 04 10/30/03 Jul 04 10/30/03 Aug 04 10/30/03 Oct 04 10/30/03 Dec 04 Composite Volume Open_lnt 10/29/03 7873 44003 Live Cattle Date 10/29/03*C ASH* 0 9780 9780 9780 unch 10/30/03 Oct 0310267102671016710180 +l3 10/30/03 Nov 03 9705 9745 9550 9580 -80 10/30/03 Dec 03 9285 9285 8992 9065 -77 10/30/03 Jan 04 9050 9070 8855 8945 -60 10/30/03 Feb 04 8710 8710 8485 8560 -60 10/30/03 Apr 04 8180 8200 8020 8110 -50 10/30/03 Jun 04 7580 7580 7430 7525 -25 10/30/03 Aug 04 7470 7490 7375 7425 -40 10/30/03 Oct 04 7480 7490 7415 7415 -65 Composite Volume Open_lnt 10/29/03 19121 116275 Pork Bellies Date 10/29/03 *CASH* 0 780075007800 +2OO 10/30/03 Feb 04 8700 882086608685 +l3 10/30/03 Mar 04 8617867086158615 +25 10/30/03 May 04 8800 8855 87208720 +5O 10/30/03 Jul 04 8970 897089308970 +5O 10/30/03 Aug 04 8840 885088408850 +3O Composite Volume Open_lnt 10/29/03 660 1821 Oats MonthjOpening jHigh |Low J Closing <BBBB 148|149 1/2 151 m&r i _ i [ 148 1/2 148 1/2 Offfey j o^riiiv W&jlT ! Month j Opening [High The real indication of future cheese prices is commercial dis appearance, or the amount of cheese that was consumed. By my own calculations, commercial disappearance through Septem ber for American cheese was 2.75 million pounds, or 1.6 percent below a year ago. It has trended upward the last few months, but at a rate that is still below year ago levels. So here are my thoughts. If de mand remains sluggish and we get any milk production rebound in October through December, look for cheese prices to weaken rapidly. However, if the milk supply remains even with a year ago (as I expect it will) and de mand picks up a bit, we could see cheese prices weaken very gradu ally. Again, it all boils down to supply and demand! „ ... l, , Previous Previous Open H.gh Low Last Chge Vo|ume Open lnl 0 0 5345 24397 1743 11148 421 4951 63 743 166 1656 30 612 40 256 52 206 12 34 0461046104610 5330 534552155255 5810 584057205785 5940 597058725907 6195620061656195 6445 648564406480 6155 620061276142 6015 604060106035 5340 539053355335 5350 535053305340 _ Previous Previous Open High Low Last Chge v „l U meOpen_lnt 0 0 1005 737 158 645 8309 52732 41 433 5852 29857 2303 17791 1054 10475 397 3323 2 282 Open High Low Last Chge 143 1/2 151 i 145 1/21 147! | Low +3O -10 + 18 '[Settle ' >143 3/4 146 148 150 150 143 3/4 : 146 ! 148 a! 150 a 150 nl 151 n [Settle I Closing 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 2.50 bu„ 4.47 cwt, Wheat, N 0.2 3.23 bu., 5.39 cwt. Barley, N 0.3 —l.BB bu., 4.02 cwt. Oats, N 0.2 1.77 bu., 5.52 cwt. Soybeans, No.l —6.66 bu., 11.11 cwt. Ear Com 63.11 ton, 3.16 cwt. Alfalfa Hay —122.50 ton, 6.13 cwt. Mixed Hay 132.00 ton, 6.6 cwt. Timothy Hay 141.75 ton, 7.09 cwt. Previous Open_lnt 1612 116 50 34 639 14 r— iNetChg' -42 i -42 i -30 1 Unch Unch 151 Unch iNetChg
Significant historical Pennsylvania newspapers