LIVESTOCK:
The livestock complex closed in a mixed manner as most of the cattle contracts closed lower on fears of higher corn prices, but the lean hog complex rallied through Friday's end as traders stumbled into technical support. Hog prices closed lower on the Daily Direct Afternoon hog report, down $0.30 with a weighted average of $68.96 on 4,797 hogs.
From Friday to last Thursday the livestock futures scored the following changes: April live cattle up $3.68, June live cattle up $0.63; April feeder cattle up $2.78, May feeder cattle up $2.50; April lean hogs down $2.40, June lean hogs down $1.30; May corn up $0.23, July corn up $0.16.
More: Friday Closing Livestock Market Update - Higher Corn Prices Keep Cattle Traders Cautious
GRAINS:
May corn closed up 14 cents and December corn was up 6 1/4 cents. May soybeans ended down 1/2 cent and November soybeans were down 11 cents. May KC wheat closed up 33 1/2 cents, May Chicago wheat was up 15 1/2 cents and May Minneapolis wheat was up 26 3/4 cents.
For the week:
May corn closed up 22 3/4 cents and December corn was up 3 1/4 cents. May soybeans closed up 8 cents and November soybeans were down 8 1/4 cents. May KC wheat closed up 14 1/4 cents, May Chicago wheat was up 7 cents and May Minneapolis wheat was up 1 1/4 cents.
DAIRY:
Block cheese price came under pressure Friday after a minor bounce Thursday. Price declined 1.75 cents, closing at $1.7750 with five loads traded. Barrel cheese price declined 3.50 cents, closing at $1.5125 with 17 loads traded. There was an unfilled bid for a load of blocks at $1.70 and two unfilled bids for barrels. The unfilled bid for a load of blocks Friday was another 5 cents lower which is cause for some concern as those lower bids may indicate where the market may eventually go. Barrel price broke through the previous low, moving back to the level last seen Nov. 18, 2021. Dry whey price declined 0.75 cent, closing at 36.25 cents. Class III futures are 5 to 27 cents lower with May showing the greatest loss. Butter price declined 1.75 cents, ending at $2.3275 with one load traded. Grade A nonfat dry milk declined 3 cents, closing at $1.13 with no loads traded. Class IV futures are 20 cents lower.
More: Friday Closing Dairy Market Update - Milk Futures Close Lower for the Week
FORAGE: This Week's Hay Markets (Forage Fodder Blog)
OUTSIDE MARKETS:
The June U.S. Dollar Index is up 0.59 at 101.29. The Dow Jones Industrial Average is down 197.51 points at 33,832.18. June gold is down $37.30 at $2,018.0, May silver is down $0.46 at $25.47 and May copper is down $0.0085. May crude oil is up $0.25 at $82.41, May ultra-low sulfur diesel is down $0.0335, May RBOB gasoline is up $0.0018 and May natural gas is up $0.108.
No comments:
Post a Comment