Al6-Lancaster Farming, Saturday, November 22, 2003
GRAIN, CATTLE, HOG,
& MILK BFP
FUTURES MARKETS
Markets Courtesy of Chicago Board and Mercantile Exchange
Closing Bids: Thursday, November 20, 2003
Com
Month (Opening High
!03Dec ;
i * #*»<■ i
230 3/4 235 1/2
04May
237 241 1/2
241 1/4 245
244 247 1/2
WiSijfr
242 1/2 244 1/2
mm
244 245 3/4
V* ;■
OSMar
250
OSMay
OSJuI
05Dec
Month jOpening [High
243
Soybeans
|Month [Opening ‘High
7501 760
io4Jan[
|o4Mar f
744'755 1/2
720 1/2 734
04May[
io4Jul 1
04Aug ■
709
682 688 1/2
644
637
04Sep '
04Nov 1
(
! 05Jan 1
573 579
578,
|osMpdr|
Month! Opening jHigh
Soybean Meal
Month .Opening{High
03Dec 230.2 233.0
|o4Jan |
229.5 j 232.0
227.3 230.5
04Mar I
|o4May{
04Jul I
222.8 225.0
217.5 219.8
04Aug ‘
210.0 210.0
04Sep i
194.5 196.5
04Oct 1 172.5 174.0
169.01169.5
;04Dec {
iOSJan !
05Mar
170.0:170.0 168.5 j 168.0 b
! 169.5 bi
OSJuT '
OSOct j
1 Month 1 Opening[High {Low 1
Nov. 14,2003
BUTTER, CHEESE
PRICES FLIP-FLOP
• Cheese prices continue to
drop.
The market continued to show
prices for butter and cheese going
in opposite directions. Block
cheese prices, which reflects sales
of natural cheese, continued to
weaken. Block cheese prices at
the Chicago Mercantile Ex
change fell from $1.4225 per
ing : _ pbnftd sl:36 pfer '
• Fresh butter prices firm up.
• Holiday sales look promis-
Closing
iLow
230 1/2.
236 3/4 i 240 3/4 |
240 1/2 i 244 1/4 i
1 243
I 247 1/2 j
I 244 1/4 [
1242 1/4
! 244 3/4 j
243 1/4
; 249 1/4 j
250
248 3/4
252 1/2 nj
I 256 n,
243 i
243
243
I
I
| Closing
Low
Closing
1758 1/2 1
i 754 I
Low
745 3/4
741
718 1/2
I 733
719
708
'6BB 1/2
681
636 1/2’
5711
578
578,
Closing
Low |
Low 1
Closing
229.01
232.5
i 228.0 {
1226.8;
231.5 i
229.5
1221.5 1
1216.5
225.0
219.8
1208.0 i
209.0
194.5
194.51
172.5 173-0
168.0; 168.8
i 168.0 b
1169.0 b!
Closings
[Settle iNetChg
+4O
235 i
i 235 1/4,
241
1244 1/2;
1247 1/4'
244
2443/41
249 1/4
252 1/21
256!
243!
Settle |Net Chg
[Settle (Net Ch g!
1759 1/4 j +lO4
754 3/4
733 1/2;
718 1/2:
719
687 3/4! +7O
642
641 b
i 578, +72
: 578 ;
578
578
578 n i
578|
jSettle jNet Chg i
Settle'Net Chg
+ 14
232.61
231.6 i +
229.4
224.8:
219.8
209.0 Unch I
194.5
173.0
168.8 j
168.01
168.5 j
i 169.8
j 169.51
[Settle [Net Chg|
shortage of surplus milk solids But a strong holiday season
has meant a drop in the produc- could help reduce commercial in
tion of butter and nonfat dry ventories, and that would buoy
milk: USDA reported this' ftfccic* ’pilces ds we enter 2004. "
Lean Hogs
Date
11/19/03 *CASH*
11/20/03 Dec 03
11/20/03
11/20/03
11/20/03
11/20/03
11/20/03
11/20/03
11/20/03
11/20/03
+34
+3O
+3O
i
+l6
+4
Live Cattle
+4
Date
+ 10
11/19/03 *CASH*
11/20/03 Nov 03
11/20/03 Dec 03
11/20/03 Jan 04
11/20/03 Feb 04
11/20/03 Apr 04
11/20/03 Jun 04
11/20/03 Aug 04
11/20/03 Oct 04
11/20/03 Dec 04
+ 10
-20
+1 14
+ 130
+94
Pork Bellies
Date
+74
11/19/03 *CASH* 0 780078007800 unch
11/20/03 Feb 04 8550 8665 85108577 -20
11/20/03 Mar 04 8505 85508505 8505 -15
11/20/03 May 04 8630 870086308630 -22
11/20/03 Jul 04 8825 8825 87508780 -25
11/20/03 Aug 04 8775 8775 87708770 unch
+4Ol
+4O
Composite Volume Open_lnt
11/19/03 514 2210
Oats
+ 10
+ 13
'Month [Opening (High
i 140 1/2 i 140 3/4 j
SB®?!
+ n;
+ to
+Bl
-i« I
-o!
ik _■ il
pound by Friday. Barrel cheese
fell even more, from $1.3925 per
pound on Monday to $1.2850 per
pound by Friday.
Basically the market informa
tion suggests that cheese produc
tion is more than adequate to
meet current and future needs.
Some buyers are holding off on
purchases and watching as prices
drop. That strategy alone could
not explain all of the recent price
drops. Holiday purchases are
under way, and that has helped
firm up the market tone.
In short, more milk solids are
finding their way into cheese pro
duction, and that is boosting in
ventory and available supplies,
thus pressuring cheese prices.
The same cannot be said for
the butter market. A relative
r* rr Li i PrCVIOUS
Open High Low Last Chge ~ , ~ ¥ .
r b b Volume Openjnt
0 0
5414 13591
0480 J 48014801 -6
4975 500049004927 +57
5470 552053805425
5860 589057455785
6090609060206090
6380643563526395
6155 615561006150
5860 592058355920
5270 527052105232
5210 523051905210
Feb 04
Apr 04
May 04
Jun 04
Jul 04
Aug 04
Oct 04
Dec 04
~ .I. l. t . Previous Previous
Open High Low Last Chge Vo|ume ope „
0 0
96 179
11049 32635
75 1281
9381 45207
2121 18248
767 10840
293 4276
99 816
0 78
0 960096009600 -201
9840 994598409942+122
9340 950793059450 +BB
9200 938092009350+100
8942 909289009067 +125
8120 8225 80858182 +4O
7425 750574027457 +32
7320 741572977357 +45
7525 761075107570 +33
7625 765576157645 +2O
„ . , , .Previous Previous
Open High Low Last Chge Vo|ume op en_lnt
0 0
479 1879
24 165
4 107
7 50
0 9
146 146 1/41
150 150 3/4
154
154; 1541
158 ' 158 1
that cream supplies have tight
ened up and churning activity is
not keeping pace with fresh-but
ter demand. Thus inventories are
dropping quickly.
The combination of lower
stocks and strong demand is
pressuring butter prices. Butter
prices at the Chicago Mercantile
Exchange this week rose from
$1.2025 on Monday to $1.2250 by
Friday.
What is unknown at this time
is what the overall holiday de
mand for dairy products will be.
There are signs that market ac
tivity is steady and we could be
hopeful that demand will be
strong for the fourth quarter.
Those figures won’t be available
until sometime early in the first
quarter of 2004,
jLow
, Closing
139 1/2 [ ” 140
144 1/2 j
145
149 1/21 149 1/2 l
• 154 1/2 a
t i
“'I
152 ri 1
154 I
1581
158 | ! 158) JJnch
[Settle [NetChgj
Low ! Closing
To help fanners 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 2.59 bu., 4.63 cwt.
Wheat, N 0.2 3.4 bu., 5.68 cwt.
Barley, N 0.3 1.92 bu., 4.10 cwt.
Oats, N 0.2 1.79 bu., 5.59 cwt.
Soybeans, No.l 7.21 bu., 12.03 cwt.
Ear Com 67.31 ton, 3.37 cwt.
Alfalfa Hay 118.75 ton, 5.94 cwt.
Mixed Hay 121.25 ton, 6.06 cwt.
Timothy Hay 133.75 ton, 6.69 cwt.
-
4029
1270
11
236
44
102
Settle 'Net Chg
-4
140 i
145
149 1/2
154 1/2 1
152!
1541
~ - -r
Average Farm Feed
Costs for Handy
Reference
20869
5688
864
2136
629
462
290
87
-12
-10
Unch
-30