|
|
|
|
|
|
October 13, 2015
In the News
Bidding for ABEF's online media auction opens, will benefit student NAMA members. To view packages and bid go here. |
|
|
|
|
|
 | presents WEEKLY COMMODITY HIGHLIGHTS |
|
Nearby
Futures | Weekly
Change | Friday's
Close | Year
Ago |
| Corn | - .06 ½ | 3.82 ¾ | 3.44 ¾ |
| Soybeans | + .11 ¼ | 8.85 ¾ | 9.42 |
| Wheat | - .04 | 5.09 ¼ | 4.93 ¼ |
| Cattle | + 7.70 | 130.78 | 164.00 |
| Hogs | + 0.48 | 73.83 | 109.50 |
| Cotton | + 1.47 | 61.61 | 64.55 |
| Milk | + 0.10 | 15.79 | 24.17 |
| Crude Oil | + 4.09 | 49.63 | 85.77 |
| 
|
Comments: Soybean futures were up on the week amid solid export demand and support Friday from USDA's Crop Report.
Although the report was largely anticlimactic, it did slash U.S.
soybean acres by 1.1 million, which offset a minor yield increase.
Still, projected 2015-16 ending stocks of 425 million bushels for soybeans and 1.561 billion bushels for corn were higher than the average analyst forecast.
Corn futures were lower and ended the week poorly while posting a bearish outside week lower on the chart.
The ongoing harvest is weighing on both corn and soybeans futures, although farmer selling has been somewhat restrained, helping to underpin basis levels.
Wheat futures were down on the week and USDA's supply and demand report was negative, as it slashed projected U.S.
exports by 50 million bushels and projected a higher-than-expected carryout.
Cotton prices were up on the week despite ongoing concerns about demand and a USDA report that was neutral to slightly friendly.
Crude oil surged, climbing above $50 and to its highest level since July amid continued signs that U.S.
production is on the decline.
In the livestock complex, live cattle futures halted their recent plunge and surged in a short-covering rally fed by stabilizing beef prices and higher cash cattle trade.
The week's action confirmed major V-bottoms for both live and feeder cattle.
Although beef prices were still lower on the week, the rate have decline has slowed significantly, and traders expect a rebound.
The impact of heavyweight cattle is starting to wane.
Cash cattle trade didn't emerge until late in the week and it was light, but it was up $6 in Texas, to $127.
Packer margins are now robust, which is feeding expectations of further increases in the cash market.
Lean hog futures held firm on the week amid continued strength in cash hog and wholesale pork prices.
Click on the Brock logo or call 1-800-558-3431 for more info on our services.
|
|
|
|
|
|
|
|
|
|
|
|
