Cattle wheat prices stall, while Cattle market on the upswing

Good Monday morning…It's cool outside, some frost, and still wet but when it dries out. perfect harvest weather!

 It’s 39 degrees this morning in the treasure Valley. a  refreshing 30 in Poky a bit cooler in IF at 29. It’s 36 in TwinFalls and 30 in CDA.

Corn opens down 2 cents from Friday

Dec 21CBOT Corn opens at $5.30 up down 11 cents from last Monday morning.

The mixed winter/spring wheat directionality left spring wheat in the black and winter wheat weaker over the weekend. HRS prices open with 2 to 4 cent gains. This week  December Minneapolis futures open 1.8% stronger. Chicago wheat opens 6 cents in the red, extending December’s loss for last week to 2.8%. KC futures open down 3 cents and that’s 2.9% below December’s close on Friday.

Dec 21 CBOT Wheat opens at $7.34 down 14 cents from last week.

Over in Burley prices are still good despite national market prices..
 Soft White Wheat | 7.54 | Unchanged
 | - Hard Red Winter | 8.05 | Up 4
 | - Hard Red Spring | 9.25 | Up 4
 | - Barley | 11.00 | Unchanged
 | - Hard White | 8.15 | Up 4

After gaining all last week, front-month cattle futures have stalled. In-delivery October is up 30 cents on and $5.17 from Friday while Dec and Feb are adding 15 to the upswing. 

Monday morning catch-up sales are near $122 and $123.50 mark. For the week, USDA had cash sales from $122 - $124 and $193 - $196 in the beef. Feeder cattle prices open 45 cents weaker. October is down by 87 cents, but that limited last weeks week’s gain to 4.4%. The CME Feeder Cattle Index is up 92 cents to $153.80.   

Heating oil opens at 66.51 up another two bucks from last week.

Milk staying steady… opens up at $18.03 per hundredweight…12 cents from last week, yet forecasters think those prices will continue to rise.

World Sugar stands steady at 20 cents per pound, that’s up slightly…

This could be the last week for hay as producers in some areas are hustling to get the crop put up before the weather gets worse with snow expected this coming week. 

The buyers are testing hay and bidding but producers are in a ‘wait and see' mode. Reports show that corn silage yields are very good this year giving the dairies the opportunity to take a wait and see the position on feed. The export market is also steady with no need to be aggressive with their bids. Premium alfalfa in southern Idaho is being bid at $240 and higher grades bid at $230. The other regions of the state showing markets at  $10 higher to $10 lower.

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