Tuesday May 21 , 2013
|PA Market Prices||Lows||Highs|
|Choice Holstein Steers|
|# 1 Bulls|
|# 2 Bulls|
|Kids Sel 1 40-60#|
|Kids Sel 2 40-60#|
|Nannies Sel 1 80-130#|
|Billies Sel 1 150-250#|
* * * * *
|US Market Prices||$||+/-|
|Boxed Beef Value|
|Cow Carcass Value|
|Pork Carcass Value|
* * * * *
|Futures||May 2013||June 2013||July 2013||
|Live Cattle||119.90 -.10||119.72 -.12|
|Lean Hogs||92.15 unch||92.87 +.95|
|Feeder Cattle||135.02 -.05||
|Corn||6.41 1/2 -9 1/4||5.53 3/4 -9 3/4|
|Wheat||6.87 3/4 -6||6.96 -6 1/4|
|Soybeans||14.27 1/2 +14.75||13.54 +12.00|
Todays News Brief
July Soybeans finished up 16 at 1464 1/2, 1 1/2 off the high and 21 1/4 up from the low. November Soybeans closed down 3 1/4 at 1225. This was 14 1/4 up from the low and 4 off the high.
July Soymeal closed up 10.2 at 435.3. This was 10.6 up from the low and 0.5 off the high.
July Soybean Oil finished down 0.32 at 49.2, 0.56 off the high and 0.34 up from the low.
July soybeans traded higher on the day and pushed up to the highest level since March 8th as strength in the cash market and ideas that producers will continue to be tight holders of old crop helped to support. November soybeans traded down double digits as traders see little impact on the crop "if" soybeans are planted a little late. In addition, traders see the potential for corn delays in Minnesota to result in higher soybean plantings as further delays with heavy rains early this week might spark some switching soon. The July/November spread made a new contract high this morning as the market attempts to shut down crush demand in the face of tight supplies. Weekly export inspections came in at just 3.328 million bushels as compared with 5.88 million necessary each week to reach the USDA projection for the year. Cumulative exports have reached 93.3% of the USDA projection for the season as compared with 86.2% as normal for this time of the year. July meal was up sharply this morning as traders see short-term tightness but plentiful global supply by the fall. July and December oil traded down moderately on the day. Analysts see US soybean planting at 24% complete in this afternoon's planting progress report. This would be the slowest pace for this time since 1996. Plantings were estimated at 6% complete last Monday.
*Disclaimer: The information in the Market Commentaries was obtained from sources believed to be reliable, but we do not guarantee its accuracy. Neither the information nor any opinion expressed therein constitutes a solicitation of the purchase or sale of any futures or options contracts.