Friday Market Watch

LIVESTOCK:

It was a rough week for livestock prices weighed down by concerns of a slowing economy combined with lower U.S. stock prices. USDA's reports of increased export sales for beef and pork Friday morning helped give prices an end-of-the week lift, followed by an on-feed report that was largely in line with analyst expectations.

More: Friday Closing Livestock Market Update - Cattle, Hogs End Bearish Week With Higher Closes

GRAINS:

March corn closed down 1 cent per bushel and May corn was down 1/4 cent. March soybeans closed down 8 1/4 cents and May soybeans were down 9 3/4 cents. March KC wheat closed up 16 cents, March Chicago wheat was up 7 cents and March Minneapolis wheat was up 7 3/4 cents. 

For the Week:

March corn finished up 1 1/4 cents, December corn was down 2 3/4. March soybeans closed 21 1/4 cents lower, November beans were down 41 cents. March Chicago wheat finished down 2 1/4, KC March finished up 4 1/4, and Minneapolis March closed 1/2 cent lower for the week.

DAIRY:

Cheese prices held for a period of time at the beginning of spot trading with higher offers posted. Eventually, selling pressure increased with offers steadily lowered in trying to find buyers. Block cheese price fell 9.50 cents closing at $1.8350 with one load traded. An unfilled bid remained a penny lower with two uncovered offers way up at $2.00. Barrel cheese price declined 5.50 cents closing at $1.58 with five loads traded. There was an unfilled bid and two uncovered offers remaining. Dry whey price slipped 0.50 cents closing at 32.50 with two loads traded. Class III futures turned from double-digit gains to mixed prices ranging from 8 cents lower to 15 cents higher. Butter price remained unchanged at $2.3225 with no loads traded. Grade A nonfat dry milk price declined 0.50 cent closing at $1.1750. Class IV futures are 1-5 cents higher with trading activity taking place in only February, May, and November contracts. Butter futures are unchanged to 2.47 cents higher. Dry whey futures are unchanged to 0.50 cent higher.

More: Friday Closing Dairy Market Update - Milk Futures See Less Pressure

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

OUTSIDE MARKETS:

The March U.S. Dollar Index is trading down 0.056 at 101.775. TFebruary crude oil gained $0.98 closing at $81.31 per barrel. The Dow gained 331 points closing at 33,375 while the Nasdaq gained 288 points closing at 11,140.February gold is up $7.70 at $1,931.60, March silver is up $0.21 at $24.08 and March copper is up $0.0325 at $4.2640. March heating oil is up $0.0676, February RBOB is up $0.0483 and February natural gas is down $0.103.