GRAIN, CATTLE, HOG,
& MILK BFP
FUTURES MARKETS
Markets Courtesy of Chicago Board and Mercantile Exchange
Closing Bids Thursday, December 4, 2003
Com
Month Opening High Low
03Dec 249 3/4 250 3/4 246 1/2
252 253 3/4 248 1/2
04Mar
04May
254 3/4 256 1/2 251 1/4
04Jul
256 258 1/4 252 3/4
04Sep
251 3/4 253 250
04Dec
249 1/4 250 248 1/4
05Mar
253 3/4 254 1/4 252 1/2
05May
05Jul
258 258 258
05Dec
Month Opening High Low
Soybeans
Month Opening High Low Closing
775 780 1/2
04Jan
773 779
04Mar
04May 755 762 1/2
04Jul
740 747
04Aug 711 717
04Sep 661 669
04Nov
599 606
05Jan 603 1/2 603 1/2
598
OSMar
Month Opening High Low
Soybean Meal
Month ' Opening l High 1 Low
03Dec I 231.5 233.0 229.5
04 Jan
232.6 233.7 230.5
04Mar
232.0 233.6 230.8
229.0 231.6 228.3
04May
04Jul
226.0 228.5 225.0
04Aug ,
218.3 220.0 218.3
04Sep
04Oct
205.5 206.5 204.1 204.0 b 204.1 a
183.5 186.0 183.1 183.0 h 183.1 a
180.0 181.5 179.8 180.0 180.3
04Dec
05 Jan
180.2 180.2 179.9 179.5 b 179.9 a
05 Mar
182.0 182.0 180.5 180.5 b 181.0 a
05Jul
050 ct
Month iOpening High Low Closing Settle Net Chg
East Fluid Milk
And Cream Review
Madison, Wis.
December 3,2003
Report Supplied by LJSDA
SPOT PRICFS OF C 1 ASS II CRFAM,
dollars per lb butterfat FOB producing
plants Northeast 1 6387-1 8949 Deliv
ered Equivalent Atlanta- 1 7115-1 9071
mostly 1 7604-1 8949
PRICES OF CONDFNSED SKIM,
dollars per lb wet solids, F.O B produc
ing plants Northeast; Class 11, includes
monthly formula prices: .8700- 9300.
Class 111, spot prices: .9800-1.0600.
SPOTS SHIPMENTS OF GRADE A
MILK FLORIDA: This Week: In 0; Out
0, Last Week. In 23, Out 0; Last Year In
26, Out 0. SOUTHEAST STATES- This
Week: In 0, Out 0; Last Week: In 0, Out
0; Last Year: 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
Milk production is mostly steady
throughout the region. Colder weather in
Florida and other Southeastern states
seems to have slowed the gains seen dur
ing the past few weeks. Milk output is still
increasing, but at a slower pace! Farther
north-, mdk- production is steady at typical
Closing
246 1/2 246 3/4
248 1/2 249 1/4
251 1/2
252 3/4 253 3/4
250
248 1/4 248 1/2
252 1/2
256 n
258
246 3/4 n
767 767 1/2 770 1/2
767 767 1/2
752 752 1/2 754
737 738 1/2 737
708 709 b 711 a
660 660 661
598 600 1/2 602
602
602
596
598
596
Closing
Closing
230.0
231.0 230.8
230.8 231.0
228.5 228.3
225.0 225.2
218.5
181.0 b 181.5 a
179.0 b 180.0 a
seasonal levels Fluid milk supplies,
though tight, are not as tight as they have
been Most contacts report the milk sup
plies over the holiday weekend were up
slightly, but easily cleared The extra milk
was welcomed by most manufacturers
Class 1 milk sales are slower at retail, but
bottlers are busy refilling school lunch
pipelines Florida’s need for milk fell to
zero this week; handlers carried heavy in
ventories into the new week and orders
from bottlers have been lighter than ex
pected Contacts expect that they will
again import some milk next week, but so
far, milk supply and demand are nicely
balanced
In the Mid-South, predictions of the
season’s first ice/snow storm have given a
boost to bottling and orders from retail
outlets. Surplus milk supplies are not as
tight and plant contacts are happy to see
the extra milk. However, if normal pat
terns are followed, volumes may again
tighten until mid-month. Most butter/
powder plants did have extra milk over
the holiday weekend and those plants
that were shipping to Florida had quite a
bit more milk. Southeastern manufactur
ing plants ran a little heavier, but all the
milk was handled by those operations
that had been running all fall. Seasonal
balancing plants remain shut.
The condensed skim market is little
changed, but December’s Class 111 formu
la-price is down quite a hit from Novem
Settle Net Chg
-24
246 3/4
252
251 3/4
253 1/4
248 1/2
252 1/2
246 3/4
Settle Net dig
Closing
Settle Net dig
770
768 3/4
753 1/4 62
737 3/4
660 1/2
601 1/4
Settle Net Chg
Settle Net Chg
-33
230.0
230.9
230.9
228.4
225.1
218.5
204.1
183.1
180.1
179.9
180.7
181.3
179.5
249
-32
-32
-30
250
-14
-12
256
-10
258
-10
760
86
-54
710
-^0
-14
602 Unch
596
-10
-32
-27
_ •> •>
-17
-lO
Unch
LJnch
- lO
her This price drop is not enough to
make Class 111 wet solids competitive
with NDM Sales of Class II condensed
skim are steady and mostly contractual
The fluid cream market is not quite as
strong now that supplies are a little more
in balance Spot prices are often higher as
the CMF butter average last week in
creased more than two cents and multi
ples are little changed from last week De
mand is good and any offerings are easily
cleared Some contacts feel that the nor
mal post-Thanksgivmg lull in demand
will not be seen this year because cream
was so tight during the weeks leading up
to the holiday. They feel that users were
so far behind on their year-end orders
that there will be little slow down in de
mand. Some suppliers note that more
loads are available from their regular
sources. Cream cheese production is
steady to heavier this week. There have
been reports that some cream cheese
makers have been, and are allocating out
put because of the lack of cream in No
vember. Egg nog production is slower, but
producers are eager to get back on line to
fill Chnstmas/New Year needs. Produc
tion of sour cream, dips, bottled and aero
sol cream is seasonally heavy. Ice cream
production is moderate to heavy as some
plants build inventories ahead of planned
shut downs during the year-end holiday
period. Churning is up slightly at some
plants
Lean Hogs
<
0 /O
,/01 'O
r Drtv
0 D ly
( c D iv
100 D iy
2t 0 D ly
Vt li to Dili
b U
) fi 1-y s
IMO | i V
Oriu (
Live
Cattle
1 [j 1/
Pork Bellies
l 'O /o
1 /01/(I
1 1/^J/O
2 O Day
6 f > Diy
100 Day
260 Day
at to Date
5 clays
2 lirrif (s)
20 tidy..
2 time(s)
6‘s day
7 time (s)
12 tune(s)
I OO days
IF time (S)
/i I) lays
Y< l try D itc
Oats
1H tiiiip(s)
Month .Opening High Low Closing
03Dec 144 1/2 145 141 1/2 141 1/2 a
04Mar 151 1/2 152 147 1/2 147 3/4 147 1/2 147 3/4
04May 154 3/4 155 151 1/4 151 1/4
155 155 154 154 a
04Jul
04Sep
04Dec
lOSMarj
.Month Opening High Low
DAIRY PRODUCTS HIGHI IGH TS.
Cheddar Cheese prices received for US
40 pound Blocks averaged $1.44 per
pound for the week ending November 22.
The price per pound decreased 8.0 cents
from the previous week. The price for US
500 pound Barrels adjusted to 38 percent
moisture averaged $1.39 per pound, down
7.6 cents from the previous week.
BUTTER prices received for 25 kilo
gram and 68 pound boxes meeting USD A
Grade AA standards averaged $1.19 per
pound for the week ending November 22.
The U.S. price per pound decreased 0.5
cents from the previous week.
NONFAT DRY MILK prices received
for bag, tote and tanker sales meeting
USDA Extra Grade or USPH Grade A
standards averaged 81.2 cents per pound
for the week ending November 22. The
U.S. price per pound decreased 0.7 cents
from the previous week.
DRY WHEY pnces received for bag,
tote and tanker sales meeting USDA
Extra Grade standards averaged 19.4
cents per pound for the week ending No
vember 22. The U.S. price per pound in
creased slightly from the previous week
LEAN HOGS Deo
mo)
o no
r u ys
bO 10
r i ’ >
so 1 o
IS h 2
2-» on 1 VOl O 1
»-> on 1 I/O 0
or on 10, 1 b/01
)Z on 10/ lb/0 i
02 >n 10, 1 b/0^
rn 10/ IS 00
LIVE- CATTLE. Den
PORK BELLIES Febrna
ss so
SO on 12/0 I/O 1
SO on 1 /() 1 /OS
IO on 10/1 1/0 1
•=) tO on 10/ I 1/03
Q 3 40 on 10/14/0 1
O 3 lO on 10/14/0 i
Dairy Products
Prices Highlights
Washington, D. C.
November 28, 2003
Report Supplied By NASS/USDA
2003 (C TIL )
•mbei
1)17
19 8 7
48 HO
48 80 oi
48 40 oi
18 40 oi
18 40 oi
18 40 or
48 40 or
1 trim (-.>
him (<,)
•I 2003 (i ME)
iry 2004 ( f ME)
< •> 2
1 it nc( &)
3 lime(s)
6 l-irnt (s)
S
-> t imp! o)
> t imf»(s)
Settle Net Chg
-12
141 1/2
151 1/4
144 n
151 n
154 n
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 tor 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 2.63 bu., 4.71 cwt.
Wheat, N 0.2 3.44 bu., 5.75 cwt,
Barley, N 0.3 1.91 bu., 4.09 cwt.
Oats, N 0.2 1.88 bu , 5.86 cwt.
Soybeans, No.l 7.10 bu., 11.86 cwt.
Ear Com 68.97 ton, 3.45 cwt.
Alfalfa Hay 121.25 ton, 6.06 cwt.
Mixed Hay 120.00 ton, 6.0 cwt.
Timothy Hay 126.75 ton, 6.34 cwt.
49 ! '
4)47
80 10
b 1 02
4 ) ) S
11 78/01
1 l/26'03
11/25/03
1 1/25/0 >
15 ' J5/OJ
1 1/25/03
Mil
■r. l/ O
m 1 1 / L t /()
m lO'
>n ofl/0 L /0J
>n D9/OVO 1
.n Ob/n L / o
-12
-20
154
144 Unch
151 Unch
154 Unch