IFBF Podcast:Wheat down, cattle strong
Good Monday morning!, the heatwave continues with more than 100 heat for the next week.
It’s 72 degrees this morning in Boise and Treasure Valley. It's a refreshing 63 in Poky a bit cooler in IF. 64 in TwinFalls CDA 64…. We will have warm temps later in the week into the weekend. With highs above 100 in a few of the Snake River plain cities.
corn futures are 10 to 18 1/4 cents weaker. December prices open the week with a 22 1/2 cent loss from last Monday’s open. Food grade corn oil reported in USDA’s weekly National Ag Energy Round-Up is 12% stronger to 71.63 cents/lb.
Sep 21 Corn closed at $5.47 1/4, down 17 1/4 cents,
Wheat futures open the session in the red. CBT SRW futures are down 4 and a quarter to 8 cents in the red. KC HRW futures open the session 4 1/2 cents in the red, MGE spring wheat prices are 19 to 20 cents lower taking back last week's gain. Sept HRS opens down 5%
Sep 21 CBOT Wheat opens at $6.84, down 8 1/4 cents,
The big story is the fact that local wheat took off last week…after that NASS report last week.
| Burley |
| - Soft White Wheat | 6.52 | up 26
| - Hard Red Winter | 6.32 | down 3
| - Hard Red Spring | 7.65 | down 20
| - Barley | 10.50 | unchanged
| - Hard White | 6.62 | down 8
On to cattle, Pre report positioning left futures 42 to 70 cents in the black for the weekend. That's where they open up this morning. The USDA has confirmed cash trade is moderate through Thursday with the bulk gravitating towards the $120-dollar mark and $198 for live and dressed. Northern sales have remained above the South’s market, at $120-$125. Feeder cattle futures open the session with $1.87 gains. The CME Feeder Cattle Index is $150.39, up 68 cents from the previous day.
Milk prices open up down a little at $16.57 per hundredweight…down 5 cents from last Monday.
Sugar stands at 18 cents per pound, and up a percentage point.
Heating oil is at 56.53 and climbing…down 11 cents from the 4th of July.
We’re seeing lots of sun perfect haying weather Demand is steady and lots of hay moving to market
Timothy going up to $220 a ton…
Supreme going for $220 per ton
That's it for the Monday market report…You can check out the market prices on the Idaho Farm Bureau web page… for the voice of Idaho Agriculture, I'm Jake Putnam
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