Friday Market Watch

LIVESTOCK:

The complex faced some pressure early on, but by Friday's end, most of the livestock contracts close higher. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $0.30 with a weighted average of $70.63 on 6,789 head. 

From Friday to Friday the livestock contracts scored the following changes: February live cattle up $0.10, April live cattle up $0.90; March feeder cattle up $2.50, April feeder cattle up $1.78; February lean hogs down $1.95, April lean hogs up $0.73; March corn up $0.07, May corn up $0.05.

More: Friday Closing Livestock Market Update - Southern Feedlots Gain $1.00

GRAINS:

March corn closed up 1/2 cent and July corn was down 2 1/4 cents. March soybeans closed down 14 cents and July soybeans were down 8 1/2 cents. March KC wheat closed up 4 1/2 cents, March Chicago wheat was down 2 1/2 cents and March Minneapolis wheat was up 3 1/2 cents.

For the week:

March corn closed up 6 3/4 cents and July corn was up 2 1/4 cents. March soybeans ended up 3 cents and July soybeans were up 3 cents. March KC wheat closed up 21 1/4 cents, March Chicago wheat was up 8 1/2 cents and March Minneapolis wheat was up 8 3/4 cents.

DAIRY:

Block cheese price remained unchanged at $1.96 with no load traded. Barrel cheese price declined 3.75 cents closing at $1.5525 with seven loads traded. It took a while before there were any bids or offers posted after the market opened for spot trading. Buyers and sellers were waiting to see who was going to tip their hand first. Sellers were the first to post offers. Dry whey price increased 1.50 cents closing at 32.75 cents with no loads traded. Class III futures turned from higher to lower with contracts ranging from 22 cents lower to 7 cents higher. Butter price increased 0.50 cents closing at $2.2725 with one load traded. Grade A nonfat dry milk price declined a penny closing at $1.1525 with nine loads traded. Class IV futures have not yet traded with wide bid and offers with traders unwilling to buy into the market due to the weakness of nonfat dry milk. Butter futures are 0.05 cents lower to 0.75 cents higher. Dry whey futures are 0.72 cents lower to 0.02 cents higher.

More: Friday Closing Dairy Market Update - Milk Futures Close Lower on the Week

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

OUTSIDE MARKETS:

The March U.S. Dollar Index is trading up 0.07 at 101.71. March crude oil declined $1.33 ending at $79.68 per barrel. The Dow gained 29 points ending at 33,978 while the Nasdaq gained 109 points closing at 11,622. April gold is up $1.60 at $1,931.60, March silver is down $0.32 at $23.71 and March copper is down $0.0415. March crude oil is down $1.30 at $79.71, March ultra-low sulfur diesel is down $0.1086, March RBOB gasoline is down $0.0193 and March natural gas is down $0.002.