-
-
-
-
-
-
-
-
-
-
-
-
Saturday, Feb. 4, 2012
Kent Feeds Market Information
Market Headlines
- DTN Early Word Opening Livestock 02/03 06:16
- DTN Early Word Grains 02/03 07:18
- DTN Midday Livestock Comments 02/03 11:53
- DTN Midday Grain Comments 02/03 11:56
- DTN Closing Grain Comments 02/03 14:16
- DTN Chart Technical Points 02/03 15:00
- DTN Cattle Close/Trends 02/03 15:25
- DTN Feeder Pig Index
- DTN Closing Livestock Comments 02/03 16:32
Featured Stories
Articles
Weather
Muscatine, IA
36°F
High: 43° Low: 29°| Barometer: | 30.28 in & rising |
| Humidity: | 87% |
| Visibility: | 4 mi |
| Wind Speed: | NE 15 MPH |
| Sunrise: | 7:11 am |
| Sunset: | 5:24 pm |
DTN Early Word Opening Livestock 02/03 06:16
DTN Early Word Opening Livestock 02/03 06:16 Cattle Paper to Open Some Lower Live and feeder futures should start out moderately, pulled lower by spillover selling and nervous cash expectations. Lean hog contracts seem set to open on a mixed basis thanks to follow-through selling on one hand and late-week short covering on the other. By John Harrington DTN Livestock Analyst Cattle: Cash Steady Futures: 10-30 LR Live Equiv $126.79 - 0.45* Hogs: Cash Steady Futures: mixed Lean Equiv $ 91.60 - 0.32** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Attention all cattle buyers and sellers: time to put up or shut up. On one hand, packers are both short-bought and poorly margined. On the other hand, producers hold manageable supplies but fear their current status is slowly deteriorated. Look for opening bids around $120 in the South and $196 in the North. Asking prices will be stated around $126-127 in the South and $203 plus in the North. While the cash trade was essentially not tested yesterday, it sounds like a few small packages traded late in Western Nebraska at $124 (close to steady with last week). Live and feeder futures are expected to open moderately lower, pressured by residual selling, defensive cut-outs, and cash worries.
Back To Top...DTN Early Word Grains 02/03 07:18
DTN Early Word Grains 02/03 07:18 Corn Futures Expected to Open 1 to 2 Higher as of 7:15 a.m. CST Corn futures are expected to open 1 to 2 higher as of 7:15 a.m. CST; soybeans 6 to 8 higher; wheat 4 to 6 higher (Chi). By Darin Newsom DTN Senior Analyst General Opening Call at 7:15 a.m. CST: Corn 1 to 2 higher, Soybeans 6 to 8 higher, Wheat 4 to 6 higher (Chi). 7:15 a.m. CME Globex: Corn 1 1/4 higher, Soybeans 7 higher, Wheat 5 1/2 higher (Chi). GENERAL OPENING CALL at 6 a.m. CST: Corn 2 to 3 higher, Soybeans 8 to 9 higher, Wheat 6 to 8 higher (Chi). 6:00 a.m. CME Globex Corn 3 higher, Soybeans 8 3/4 higher, Wheat 7 higher (Chi). After opening lower, grains were able to move higher early Friday morning. Soybeans led the charge as more reports come out of reduced South American production estimates. Additional support was tied to the weaker U.S. dollar index tied to pre-report talk of a bullish January nonfarm payroll report. OUTSIDE MARKETS The Dow Jones Industrial Average closed 11.05 points lower Thursday at 12,705.41. The overnight session saw the Dow Jones futures trade 21 points higher, indicating the market could see renewed buying interest Friday. Asian markets were mixed with the Nikkei down 44.89 points at 8,831.93. European markets were mostly higher. The overnight crude oil market was $.43 higher at $96.78 while Brent crude was $.36 higher at $112.43. The April gold contract was $3.00 higher at $1,762.30 while the U.S. dollar index is 0.141 lower at 78.850. Soybeans at the Dalian exchange were lower while the Malaysian palm oil market was higher.
DTN Midday Livestock Comments 02/03 11:53
DTN Midday Livestock Comments 02/03 11:53 Livestock Futures Mixed in End-of-Week Positioning Weaker cash hog prices on the morning report and lower boxed beef values have pulled livestock futures off of early highs near midday. Traders continue to look for additional direction from cash cattle markets, and outside markets, but for now trade volumes remain sluggish. By Rick Kment DTN Analyst GENERAL COMMENTS: Livestock futures remain mixed in extremely light end-of-week trade. Although prices have eased through the live cattle market, trading ranges have been kept extremely narrow. Activity is expected to remain sluggish through the remainder of the day. Corn futures are trading lower at midday in light trade. March corn futures are 3 cents lower at midday. Stock markets are higher in light trade. The Dow Jones is 144 points higher while Nasdaq is up 45 points. LIVE CATTLE: Even though live cattle futures have slipped from morning highs, the tone of the market remains firm with an undertone of support holding in the market despite the lack of direction in the cash market and weak boxed-beef values. Traders are gaining light support from outside market stability at the end of the week with traders seemingly taking a longer-term view on the market rather than focusing solely on the potential cash market move, which will develop later Friday. Cash cattle markets remain deadlocked with light to moderate packer inquiry. It is likely that trade will take place through mid to late afternoon, although overall volume may remain light. Asking prices are holding at $126 in the South and $203 to $205 in the North. Beef cut-outs at midday are lower, falling $0.39 per cwt (select) and down $0.07 per cwt (choice) with moderate movement of 124 total loads reported (75 loads of choice cuts, 24 loads of select cuts, seven loads of trimmings, 18 loads of coarse grinds). FEEDER CATTLE: Moderate support has continued to develop through the morning despite the lack of activity and price support in the live cattle market. Softness in the corn market has helped to add to the light buying interest seen in nearby feeder cattle markets Friday morning. Trade is expected to remain near a standstill through the rest of the session, which could create additional price movement due to the lack of market participants. LEAN HOGS: Lean hog futures remain mixed in light trade at midday. The lackluster cash market movement in the morning report has softened early support in nearby contract, but with traders trading near unchanged through much of the morning anyway, the light losses seen is not going to create technical damage to the market at this point. February futures are holding 12 cent gains in light activity, while April futures are posting 15 cent losses, which is near session lows. Trade is expected to remain stuck in the narrow trading range through the remainder of the Friday session. Cash prices are lower in light trade on the Iowa/Minnesota morning cash hog report. The weighted average price fell $1.43 per cwt to $86.23 per cwt with the range from $76.00 to $87.50 per cwt on 355 head reported sold. Fresh pork trade posted 1 load of fresh pork selling on the midday pork carlot report. Lean hog index for 2/1 is at $88.09 up 0.15 with a projected two-day index of $88.07 cwt down 0.02. PORK BELLIES: The 14-to-16-pound bellies are untraded on the midday carlot report. Rick Kment can be reached at rick.kment@telventdtn.com (SK) Copyright 2012 DTN/The Progressive Farmer, A Telvent Brand. All rights reserved.
DTN Midday Grain Comments 02/03 11:56
DTN Midday Grain Comments 02/03 11:56 Soybeans Higher at Midday Grain trade is mixed at midday with soybeans taking the lead, amid positive economic news. By David Fiala DTN Contributing Analyst The U.S. stock market indices are higher; the Dow index is up 130. The interest rate products are sharply lower. The dollar index is 14 higher. Energies are higher with crude off $.45. Livestock trade is mostly lower, with hogs nearly steady. Precious metals are mixed with gold down $19. General Comments Corn Corn trade is steady after trading both sides of unchanged this morning. The trade has been able to hold above the 100-day moving average so far, at the 6.40 area. If they hold it sets up well for a challenge of the 200-day moving average at $6.60, especially with the February supply and demand report coming next week. Ethanol margins are going remain under serious pressure in the near term with flat ethanol prices, but blender margins are solid. Basis has held together well, and the Western Corn Belt may see serious disruptions to logistics in the near term. South Korea bought 175,000 metric tons of corn, mostly of US origin. Taiwan bought 60,000 metric tons of Argentine corn. Mexican corn import demand looks to remain near record levels as their corn crop is plagued by weather issues. Look for corn to follow soybeans for the balance of the session. Soybeans Soybean trade is 11 to 15 higher after some buy stops were tripped in the $12.30 area. Meal is $3.50-$5.00 higher and bean oil is up 40-60. The chart looks solid in the near term with further buying expected to arise with a consecutive close above the 100-day moving average at 12.17, and a close above the $12.30 area would set up for a test of the early year highs at $12.44. The 200 day moving average is the longer term upside target, but it remains in the high $12 range. Basis remains fairly firm, which helping to support the soy complex. Barges are being aggressively bid up as crush margins improve around the world, and end users are actively seeking to secure supplies with South American uncertainty. The weather pattern looks more favorable for crop development, but estimates are still coming in lower than earlier. The big question will be weather there is enough technical buying to sustain a strong close on the beans, or if the looming South American harvest will restrain gains. Wheat Wheat trade is steady to weaker this morning across the three exchanges. The Russian announcements did not juice the market as the export target remained at 27 million metric tons, and any duties will not be announced until later. The Ukraine banned hopper rail cars from leaving the country as they were being held too long. The next upside target is $7.35, the 200-day moving average, on the March Chicago contract. Support is at the 6.56 area on the 10 day, and the 100 day at 6.50 below it. The Middle East continues to actively seek wheat before local harvest begins in May. Wheat will likely follow corn this afternoon, as the spreads have stabilized for the moment. David Fiala is a DTN contributing analyst and the President of FuturesOne and a registered Commodity Trading Adviser. (ES) Copyright 2012 DTN/The Progressive Farmer, A Telvent Brand. All rights reserved.
DTN Closing Grain Comments 02/03 14:16
DTN Closing Grain Comments 02/03 14:16 Soybeans Close Week Strong Soybeans finished with solid gains wiping out the week's losses. This helped pull corn higher in the last minutes of trade. Wheat tried to rally at the close but ended modestly lower on light technical selling. By John Sanow DTN Analyst
DTN Chart Technical Points 02/03 15:00
DTN Chart Technical Points 02/03 15:00 DTN FUTURES 10 2/03/12 SLOW STOCHASTIC PRICES ARE DECIMAL MOVING AVERAGES RSI'S 5 Day 20 Day CONTRACT CLOSE 4-Day 9-Day 18-Day 45-Day 9Day 14Day 30Day %K %D %K %D CBTWT MAR 660.75 665.94 653.78 633.61 624.01 61.85 59.72 54.27 63 73 81 77 CBTWT MAY 674.00 679.94 668.22 650.93 642.27 60.47 58.62 53.55 73 81 88 82 KC WT MAR 712.75 717.13 706.44 690.29 680.73 60.65 58.39 53.09 65 73 76 69 KC WT MAY 721.25 725.44 714.92 699.00 689.30 60.98 58.62 53.18 39 51 68 74 MN WT MAR 838.50 834.75 825.33 815.32 825.47 66.51 59.11 52.11 75 73 62 46 MN WT MAY 826.25 822.19 811.92 801.28 808.41 67.49 60.58 53.09 78 76 66 50 CORN MAR 644.50 642.13 637.92 627.26 619.54 62.31 58.50 53.43 70 66 67 63 CORN MAY 650.75 648.44 643.83 633.46 626.98 62.20 58.29 53.28 70 67 68 62 CORN JUL 655.50 652.38 647.56 637.64 632.23 62.55 58.40 53.30 81 76 65 60 OATS MAR 314.25 306.31 301.06 295.99 301.73 69.78 62.20 52.67 100 85 81 61 OATS MAY 308.00 301.06 299.67 295.88 303.43 63.57 57.03 49.32 93 61 71 56 BEANS MAR1232.501215.941213.811203.811180.42 61.65 58.80 54.01 80 57 66 63 BEANS MAY1240.751224.751222.921212.781190.09 61.58 58.74 54.01 81 57 66 63 BEANS JUL1250.251234.001232.391222.171199.63 61.73 58.87 54.10 82 58 65 63 S MEAL MAR 328.60 323.40 321.86 317.32 306.70 64.38 61.57 56.33 82 63 79 77 S MEAL MAY 330.20 325.27 323.76 319.47 309.50 64.34 61.49 56.22 84 64 78 76 B OIL MAR 51.65 51.22 51.27 51.20 50.98 55.11 53.09 50.60 69 50 31 31 B OIL MAY 52.08 51.65 51.70 51.62 51.37 55.25 53.26 50.79 70 50 32 34 CATTLE FEB 123.63 124.83 124.91 123.92 122.16 46.62 50.53 51.59 58 62 78 81 CATTLE APR 127.40 128.52 128.52 127.57 125.91 47.17 51.08 52.04 61 67 79 81 FEEDER MAR 154.45 155.30 154.85 153.72 150.18 56.44 59.83 59.94 69 78 89 88 FEEDER APR 157.02 157.70 157.09 155.58 151.64 63.02 65.72 63.87 78 89 94 96 HOGS FEB 87.53 87.56 86.89 86.00 86.00 63.21 58.18 51.72 89 89 93 89 HOGS APR 88.93 89.47 88.37 87.80 88.45 54.87 53.01 49.40 77 81 75 63 COTTON MAR 96.34 94.30 95.29 96.36 92.83 56.35 55.45 52.60 41 19 28 45 COTTON MAY 97.48 95.57 96.13 96.64 92.80 61.12 59.30 54.72 47 23 44 56 RICE MAR 13.88 13.81 14.25 14.44 14.44 34.53 37.46 40.12 8 3 5 30 RICE MAY 14.15 14.09 14.52 14.72 14.72 34.42 37.35 39.96 8 2 5 28
DTN Cattle Close/Trends 02/03 15:25
USDA MARKET NEWS--AFTERNOON CATTLE REPORT 02/03/12
VOLUME USDA TOTAL RANGE DTN PRACTICAL RANGE DTN WT AVG
KANSAS CONFIRMED CASH SALES - TODAY: 1,105 WEEK T0 DATE: 1,145
STEERS 151 123.00-123.00 123.00-123.00 123.00
HEIFERS 134 123.00-123.00 123.00-123.00 123.00
NEBRASKA CONFIRMED CASH SALES - TODAY: 18,954 WEEK TO DATE: 28,380
STEERS 7,395 197.00-199.00 197.00-199.00 198.12
HEIFERS 5,316 196.00-198.50 196.00-198.50 197.82
TEXAS CONFIRMED CASH SALES - TODAY: 251 WEEK TO DATE: 251
STEERS 73 123.00-123.00 123.00-123.00 123.00
HEIFERS 178 123.00-123.00 123.00-123.00 123.00
COLORADO CONFIRMED CASH SALES - TODAY: 1,850 WEEK TO DATE: 5,806
STEERS 120 120.00-120.00 120.00-120.00 120.00
HEIFERS 772 123.00-123.00 123.00-123.00 123.00
IOWA CONFIRMED CASH SALES - TODAY: 15,860 WEEK TO DATE: 20,771
STEERS 1,762 196.00-199.00 196.00-199.00 198.17
HEIFERS 1,368 196.00-200.00 196.00-200.00 196.90
COMMENTS: A moderate trade in the North today with dressed deals ranging from
steady to $3.00 lower than last week, a light trade in the South with live
business mostly $1.00 lower
5 AREA LV STR AVE PR&WT: $123.81(1407) HIDE & OFFAL: $12.54 -.01
CARCASS EQV INDEX CHOICE (600-900#) SELECT (600-900#) #OF HEAD
LIVE BASED 184.43 175.44 78,957
BOX BASED 171.12 166.08 85,156
AVE INDEX 177.78 - .18 170.76 - .38 164,113
BEEF CUTOUTS CHOICE (600-900#) SELECT (600-900#)
183.12 - .07 178.08 - .45
102.26 LDS CH CUTS / 41.36 LDS SEL CUTS / 11.54 LDS TRIM / 28.69 LDS GROUND
BOXED BEEF TREND: Stdy/Wk on lt-mod dem & offers
COMPREHENSIVE WEEKLY CUTOUT VALUE: Week ending 01/27 $184.76 +1.17
CUTTER 90% 350# UP C/O: $161.22 +.13
NAT'L BONELESS BF TRIM: 50.93 lds / Wk on lt dem & lt-mod offers
90% TRIM: 19 lds / WT AVG: $206.26 / Mostly weak to $1.00 lower
*ABCDE AFTER QUOTE REPRESENTS DAYS SINCE LAST REPORTED MARKET TEST*.
FI KILL(WTD) FRI 102(584) WK AGO 113(603) YR AGO 123(608) MIX: THU SH92/CB27
SAT 5(589) WK AGO 5(608) YR AGO 19(627)
WEEKLY CANADIAN CATTLE IMPORTS:.
FEEDERS SLAUGHTER S&H
Week Ending: 01/21/12 1,693 7,331
Week Ending: 01/14/12 2,024 6,033
Change from Previous Week: -331 +1,298
DTN Feeder Pig Index
DTN Closing Livestock Comments 02/03 16:32
DTN Closing Livestock Comments 02/03 16:32 Live Cattle Futures Close Weak With Triple-Digit Losses The cattle complex closed sharply lower, pressured by cash weakness, poor processing margins, and technical selling. Lean hog futures finished mixed with nearbys losing ground to deferreds. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: From Friday to Friday, livestock futures scored the following changes: February LC, off 108; April LC, off 105; March FC, off 15; May FC, up 75; February LH, up 85; April LH, up 155. For the week, spot March corn 2 3/4 cents. The cash cattle market broke lower Friday on moderate trade volume. Southern feedlot business took place at $123, $1 lower than last week. On the other hand, most dressed business in the North was marked at $198, $1 to $2 lower than last week's weighted average basis Nebraska. According to the closing report, the Iowa hog base was 1.58 lower compared with the Prior Day settlement ($75.00-$90.75, weighted average $86.08). Corn futures closed 1 1/2 to 3 1/4 higher, following the strength in the soybean contracts. The Dow Jones Industrial Average closed at its highest level since May 2008, up 156 points. The Nasdaq closed at its highest level since December 2000, up 46 points.
