Friday Market Watch

LIVESTOCK:

The livestock complex closed mixed with the live cattle contracts closing higher, feeders closing lower and hogs ending the week mixed. The most excitement throughout Friday's market was seen in the cash cattle market as the standoff between packers and feedlots broke and Southern cattle traded for $160 to $161, which is $1.00 to $2.00 higher than last week's weighted average. Hog prices closed $0.28 higher on the Daily Direct Afternoon Hog Report, equating to a weighted average of $77.05 on 7,226 head. 

Friday to Friday, livestock futures scored the following changes: February live cattle up $0.93, April live cattle down $0.17; March feeder cattle up $0.30, April feeder cattle up $0.05; February lean hogs up $0.85, April lean hogs down $3.15; March corn up $0.03, March corn up $0.03.

More: Friday Closing Livestock Market Update - Southern Cattle Finally Trade

GRAINS:

March corn closed up 9 3/4 cents and July corn was up 7 3/4 cents. March soybeans closed up 23 1/4 cents and July soybeans were up 19 3/4 cents. March KC wheat closed up 30 cents, March Chicago wheat was up 28 3/4 cents and March Minneapolis wheat was up 13 cents.

For the week:

March corn closed up 3 cents and July corn was up 1 3/4 cents. March soybeans ended up 10 1/2 cents and July soybeans were up 6 cents. March KC wheat closed up 36 cents, March Chicago wheat was up 29 1/4 cents and March Minneapolis wheat was up 8 3/4 cents.

DAIRY:

Block cheese price declined a penny closing at $1.8625 with one load traded. Barrel cheese price increased 0.50 cent closing at $1.5750 with four loads traded. This moved Class III futures from higher across the board to mixed. The decrease of blocks offset the increase of barrels. Dry whey price remained steady at 42.50 cents with no loads traded. Class III futures are 2 cents lower to 15 cents higher. Butter price increased 0.50 cent closing at $2.4125 with no loads traded. Grade A nonfat dry milk price gained 2.25 cents ending at $1.2650 with two loads traded. This is supporting Class IV futures with contracts 10-34 cents higher. Butter futures are steady to 2.25 cents higher. Dry whey futures are 0.20-0.57 cents higher. Traders remain uncertain of long-term direction but seem a bit more friendly to the market

More: Friday Closing Dairy Market Update - Cheese Prices Were Lower for the Week

FORAGE: This Week's Hay Markets (forage fodder blog)

OUTSIDE MARKETS:

The March U.S. Dollar Index is trading up 0.42 at 103.53. March crude oil gained $1.66 closing at $79.72 per barrel. The Dow gained 169 points closing at 33,869 while the Nasdaq declined 71 points closing at 11,718. April gold is down $3.80 at $1,874.70, March silver is down $0.10 at $22.04 and March copper is down $0.0835. March crude oil is up $1.52 at $79.58, March ultra-low sulfur diesel is up $0.0529, March RBOB gasoline is up $0.0503 and March natural gas is up $0.058.