Friday Market Watch

LIVESTOCK:

Traders weren't interested in sticking around and trading the livestock contracts through Friday's end, which ultimately led all three of the livestock contracts to a lower close. The cash cattle market saw a little more trade in the North, but mostly the market only saw some sparse clean up trade develop as all prices were steady with Thursday's business. Hog prices closed higher on the Daily Direct Afternoon Hog Report, up $0.08 with a weighted average of $74.47 on 5,844 head. 

From Friday to Friday, the livestock contracts made the following changes: February live cattle down $1.13, April live cattle down $1.13; January feeders down $1.00, March feeders down $0.57; February lean hogs down $7.43, April lean hogs closed $5.65; March corn down $0.25, May corn down $0.24.

More: Friday Closing Livestock Market Update - Lower Tones Keep With the Contracts 

GRAINS:

March corn closed up 1 1/4 cents and July corn was up 1 1/2 cents. March soybeans closed up 21 3/4 cents and July soybeans were up 20 3/4 cents. March KC wheat closed down 7 3/4 cents, March Chicago wheat was down 3 1/4 cents and March Minneapolis wheat was down 7 1/4 cents.

For the week:

March corn closed down 24 1/2 cents and July corn was down 23 1/2 cents. March soybeans ended down 31 1/2 cents and July soybeans were down 31 1/2 cents. March KC wheat closed down 56 cents, March Chicago wheat was down 48 1/2 cents and March Minneapolis wheat was down 37 cents.

DAIRY:

Block cheese price was bid aggressively higher increasing 7.50 cents closing at $2.0550 with two loads traded. Price moved to $2.06 where the first load was traded while the second load traded at the closing price with no more business to be done. The decrease in price for the second load kept a subdued tone in the market. Class III milk futures are steady to 26 cents higher in very light trade so far. Some of the exuberance that might have been seen by the gain of blocks was offset by dry whey trading 2.50 cents lower closing at 39 cents with two loads traded. Barrel cheese price increased 0.50 centss closing at $1.7250 with three loads traded. Butter price increased 0.25 cent closing at $2.3825 with no loads traded. Grade A nonfat dry milk price remained steady at $1.2975 with no loads traded. Class IV futures are 4-9 cents lower with trading only in the November and December contracts. Butter futures are 0.25 cents higher with the only activity being in the March contract. Dry whey futures are 0.25 cents lower to 0.40 cents higher. USDA will release the November Dairy Products report this afternoon.

More: Friday Closing Dairy Market Update - Dairy Product Output Rises

FORAGE: This Week's Hay Markets (Forage Fodder Blog)

OUTSIDE MARKETS:

The March U.S. Dollar Index is trading down 1.18 at 103.65. The Dow Jones Industrial Average is up 669.32 points at 33,599.40. February gold is up $33.40 at $1,874.0, March silver is up $0.62 at $24.04 and March copper is up $0.0980. February crude oil is up $0.14 at $73.81, February ultra-low sulfur diesel is up $0.0359, February RBOB gasoline is down $0.0236 and February natural gas is up $0.052.