- Paragon Investments' Futures File: Milk, Soybeans & U.S. Dollar
Our weekly column looks at recent news in Milk, Soybeans & U.S. Dollar
- Let's give Thanks, confidence in System? Change,
FRB Yellens' natives getting restless? Yield curve
- Market rankings for the option trader
Reduce some risk in the Nasdaq today. Roll up ITM calls.
- Grains continue to rally
Grains have made a nice move higher this week as we head into option expiration.
- December Option Expiration Could be a Market Mover
We want to wish everyone a Happy and Safe Thanksgiving! Grain markets are in a buying time mode with the holiday approaching and option expiration...
- Livestock Report
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Live cattle futures posted gains of 72.5 cents to $1.425 on Wednesday, with feeder cattle futures $1.10 to $1.45 higher. The CME feeder cattle index on November 21 was down 10 cents to $156.58. Wholesale beef prices were mixed on Wednesday afternoon. Choice was up 38 cents at $209.01, with select boxes a penny lower at $188.64. USDA indicated FI cattle slaughter at 359,000 head through Wednesday, 6,000 larger than a week ago and 11,000 above the same week in 2016. This morning’s FCE auction showed 2 offers of $119 passed on by feedlots, as asks of $120 were passed by packers. There were no sales reported of the 955 head. Cash sales traded $120-$120.50 in the North on Wednesday. This morning’s Cold Storage report indicated frozen beef stocks of 506.931 million pounds, 2.2% larger than September but down 4.9% from last year.Dec 17 Cattle closed at $119.050, up $1.075,Feb 18 Cattle closed at $125.475, up $1.425,Apr 18 Cattle closed at $125.950, up $1.150,Jan 18 Feeder Cattle closed at $152.725, up $1.100Mar 18 Feeder Cattle closed at $151.150, up $1.325Apr 18 Feeder Cattle closed at $150.925, up $1.250
Lean hog futures ended the Wednesday trade session with most contracts 45 cents to $2.15 higher. The CME Lean Hog Index for 11/20 was down 42 cents to $64.41. The national base hog average price was 6 cents higher at $56.65 this afternoon. The USDA pork carcass cutout value was $1.11 higher at $81.98 in the Wednesday afternoon report. The weekly USDA AMS hog slaughter report showed 1,378,000 through Wednesday. That is down 16,000 from the previous week but 60,000 more than the same week in 2016. The USDA Cold Storage report this morning showed frozen pork stocks at the end of October totaled 597.295 million pounds. That is a drop of 3.45% from September and 0.29% lower that October 2016. The domestic and export markets continue to absorb larger 2017 production.Dec 17 Hogs closed at $62.825, up $2.125,Feb 18 Hogs closed at $69.100, up $2.150Apr 18 Hogs closed at $73.050, up $1.675