IFBF Monday Market Report: Cattle strong, grains weaken
Idaho Farm Bureau's Podcast
English - August 23, 2021 13:00 - 3 minutes - 2.52 MB - ★★★★ - 6 ratingsNews idahofarmbureaupodcast idahoagriculture idahocattle idahofarms Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Good Monday morning We had the first cool mornings of the summer over the weekend across the state, the big question is have we seen the last of the triple-digit heat?
It’s 55 degrees this morning in Boise and Treasure Valley. It’s a refreshing 54 in Poky a bit cooler in IF at 49 and 54 in TwinFalls, CDA 54…. 20 degrees cooler than last week.
Corn futures went into the weekend with 1.9% to 2.5% losses. Seasonal weaknesses were compounded by Friday reports that EPA is recommending that the White House lower renewable fuels blending requirements when the official 2021 level is announced.
Sep 21 Corn opens at $5.38 3/4, down 11 1/4 cents,
Front-month wheat futures are extending the Friday drop this morning, as most row crop markets continue lower. Chicago SRW is down 4 to 9 cents so far. KC wheat prices are up to 7 cents lower. Minneapolis spring wheat is the firmer of the domestic markets, with prices opening UNCH.
Sep 21 CBOT Wheat opens this morning at $7.21, down 6 cents.
Over in Burley wheat is down after historic gains last week:
| Soft White Wheat | 7.56 | Down 14
| - Hard Red Winter | 7.29 | Down 13
| - Hard Red Spring | 8.48 | Down 4
| - Barley | 10.75 | Unchanged
| - Hard White
At the close, for the Friday session, live cattle futures were up 90 cents. In delivery August and October futures led the Weekend gain, extending August’s weekly move to $1.52 from Friday to Friday. USDA reported the week’s cash sales from $120 - $128, though the bulk of Northern business was near $127 and Southern trade stayed mostly at $122. Dressed deals are mainly $200, but some were as high as $205. Feeder cattle futures are $0.75 to $2.60 in the black at Monday's open. August feeders are 97 cents higher. The CME Feeder Cattle Index was another 37 cents stronger to $155.79 on 8/19.
Milk prices open up down a little at $16.01 per hundredweight…down 18 cents from last Monday.
World Sugar stands at 19 cents per pound, and down a percentage point from last week.
Heating oil is at 50.99 and dropping.
Hay is still going strong—
Supreme going for 220 per ton
Timothy about the same—
Premium 200
Good 170
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