Weekend market report--Commodity market steady
Idaho Farm Bureau's Podcast
English - June 12, 2020 04:00 - 2 minutes - 1.78 MB - ★★★★ - 6 ratingsNews idahofarmbureaupodcast idahoagriculture idahocattle idahofarms Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
It’s a warm 55 degrees this morning in Boise and the Treasure Valley. Its 60 in Poky and IF. Northern Idaho, morning lows in the 50s….another perfect farming day, but storms in the forecast over the weekend, and that slowing hay operation.
Rough day at the stock market on Thursday…
Yet Corn trading a full cent higher this morning. Jul 20 Corn futures open at $3.29, up just a cent.
Most of the wheat markets closed Thursday in the red. HRW futures were down the most after the Crop Production reports, they open down by 9 to 10 cents. CBT wheat opens 7 cents lower. MPLS HRS wheat opens with 4 cent losses.
Milk prices open steady at $20.30 per hundredweight and continue to inch up…that's up 10 cents from last Friday.
Cattle market looking good this morning: Live cattle up 5.6-percent.
Fat cattle futures open down by 32 cents in the front months. June contracts open up by 22 cents to $96.82 with no deliveries to report on. Feeder cattle futures closed off of midday lows but were still 50-cents lower on the day. The Feeder Cattle index from CME is $129.38, 32-cents lower.
The first crop of hay is still underway in SW Idaho. Lower grades of alfalfa 20.00 lower. Trade still active this week as producers dealing with lower testing. Exporters still shipping but this weather is slowing operations. Supreme going for $185 per ton, good and fair $130-a ton…so prices below the seasonal average.