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Weekend market report: Corn and cattle and milk up, grains fading

By: Jake Putnam
Published in Podcast on  January 08, 2021

Good Friday morning…

It’s 37 degrees this morning in the Treasure Valley we’ve had rain scattered snow, It is 25  in Poky, 21 in IF.  Northern Idaho, it’s 30 and cloudy this morning in CDA and a bit colder in Sandpoint…. Scattered snow over the weekend.

On to the markets:

Corn futures still climbing upwards, Mar 21 Corn opens at $4.94, up 10 cents from Monday.

Thursday wheat trading opens a bit weaker.

Mar 21 CBOT Wheat opens at $6.42 down 5 cents,

Mar 21 KCBT Wheat opens at $5.98 down 5 cents,

Mar 21 MGEX Wheat opens at $6.03 down 3 cents,

Local wheat really down and adjusting after a month of strong prices:

Blackfoot

- Soft White Wheat

5.25

down 13

- Hard Red Winter

5.77

down 11

- DNS 14%

5.84

down 6

- Hard White

5.77

down 11

 Milk inching up, now trading at  $16.71 per hundredweight this morning, up a buck, futures are projected back up to the 20 dollar mark, so things looking good there.

Front-month live cattle futures open with 12 to 30 cent gains so far. Feb fats are currently unchanged at a $3-4 premium to cash. Feeders are gaining triple digits with $1.20 to $1.55 gains in the front months so far. Weakness in the grains is helping. The CME Feeder Cattle Index is down 25 cents at $134.92. USDA confirmed cash sales remain light.

Idaho Hay, supreme quality trading at  $190, good quality going for $140 feeder demand steady.

That's it for the Monday market report from the voice of Idaho Agriculture, I'm Jake Putnam

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