M-4 Vol. XXX, No. 10 March 8, 2007 FUTURES MARKET WATCH ...
M-4 Vol. XXX, No. 10 March 8, 2007 FUTURES MARKET WATCH ...
M-4 Vol. XXX, No. 10 March 8, 2007 FUTURES MARKET WATCH ...
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M-4 <strong>Vol</strong>. <strong>XXX</strong>, <strong>No</strong>. <strong>10</strong> <strong>March</strong> 8, <strong>2007</strong><strong>FUTURES</strong> <strong>MARKET</strong> <strong>WATCH</strong>Month Commodity 3/2 3/5 3/6 3/7 3/8<strong>March</strong>JulyCornCorn4.114.304.174.354.164.354.164.334.164.33<strong>March</strong>JulySoybeansSoybeans7.397.697.367.667.457.747.437.737.437.73<strong>March</strong>JulyWheatWheat4.594.854.684.914.644.904.664.894.664.89<strong>March</strong> Soybean Meal 215.60 215.40 217.20 217.50 217.50<strong>March</strong>DecemberCottonCotton55.8558.6855.0757.9354.9058.5554.9058.5554.3458.84<strong>March</strong>AprilFeeder CattleFeeder Cattle<strong>10</strong>3.90<strong>10</strong>5.52<strong>10</strong>3.77<strong>10</strong>5.32<strong>10</strong>3.25<strong>10</strong>4.75<strong>10</strong>3.37<strong>10</strong>4.90<strong>10</strong>4.85<strong>10</strong>6.72AprilJuneLive CattleLive Cattle97.6595.5097.3595.4297.6095.7798.5596.82<strong>10</strong>1.0298.75AprilJulyLean HogsLean Hogs66.3576.9565.0075.6565.2576.3565.6776.67OPTIONS <strong>MARKET</strong> <strong>WATCH</strong> (3/8/07)Commodity Strike Put Premiums Call PremiumsCotton .58/lb. May3.74Wheat 4.60/bu. May.<strong>10</strong>7Soybeans 7.40/bu. May.135Corn 4.30/bu. May.236Hogs 66.00/cwt. Apr8.25Fed Cattle 96.00/cwt. Apr5.00Feeder Cattle <strong>10</strong>4.00/cwt. Mar1.05Jly4.01Jly.164Jly.205Jly.305May----Jun2.03Apr1.25Oct3.97Sep.204Aug.264Sep.464Jun3.25Aug3.63May1.50May0.24May.262May.325May.152Apr2.58Apr----Mar1.90Jly1.13Jly.437Jly.542Jly.314May-----Jun4.75Apr3.9567.7578.17Oct3.52Sep----Aug.650Sep.365Jun----Aug2.98May6.13FUTURE <strong>MARKET</strong> TREND ANALYSIS* Corn -Down; Soybeans -Up; Cattle - Up; Hogs - Down*The trend analysis is based on moving averages. For detailed information on the moving trends and their use contact theExtension Ag. Economics Department.This report is available at http://www.ces.uga.edu/Agriculture/agecon/newsltr.html
LIVESTOCK & GRAIN STATISTICSGrain Exports(<strong>10</strong>00Bu.) This Week Last WeekYearAgoTotal to DateFor Mktg.YearTotal to DateLast Year% This YearOf LastWeek Ending 3/1/07Corn 51,630 35,154 38,5<strong>10</strong> 1,081,876 926,182 117%Soybeans 25,829 34,199 26,400 766,955 620,398 124%Wheat 18,385 23,264 16,174 653,776 767,806 85%Week Ending 3/3/07Cattle 625 630 620 5503 5268 <strong>10</strong>4%Hogs 1896 2011 1983 18,007 18,023 <strong>10</strong>0%PROFIT SCOREBOARDENTERPRISE, YIELDAND <strong>MARKET</strong>INGSYSTEMTHURSDAY'SCLOSING<strong>FUTURES</strong> PRICELESSESTIMATEDBASIS EQUALSFORWARDPRICINGOPPORTUNITYON THURSDAYOUT OF POCKETAND TOTALPRODUCTIONCOSTSPOTENTIAL(RETURNS TOND & MGT.)CHANCE OFPOSITIVERETURN TOLAND ANDMGT. *Wheat40 .bu./acreJuly 4.89 -.25 4.64/ bu. 2.33/bu.3.56/bu..0/bu.1.08/bu98%82%Corn - Irrigated150 bu./acreDec. 4.09 .05 4.14/bu. 1.87/bu.2.80/bu.2.27/bu.1.34/bu99%99%Soybeans - Dry land30 bu./acre<strong>No</strong>v. 7.95 -.20 7.75/bu. 4.71/bu.7.01/bu.3.04/bu..74/bu91%70%BT/RR Cotton - Dryland650 lb./acreDec. .59 -.04 .55/lb. .48/lb..63/lb..7/bu.-.8/lb78%32%BT/RR Cotton -Irrigated<strong>10</strong>00 lb./acreDec. .59 -.04 .55/lb. .40/lb..57/lb..15/lb.-.2/lb.99%39%Feeder CattleWinter StockeringSell at 750 lbs.Apr. <strong>10</strong>6.72 -3.00 <strong>10</strong>3.72/cwt. <strong>10</strong>0.66/cwt<strong>10</strong>4.58/cwt3.06cwt-.86/cwt69%45%Fed CattlePlaced in this week sellat 1200 lbs.Oct. 98.70 -1.50 97.20/cwt 83.69/cwt83.69/cwt13.51/cwt13.51/cwt99%99%HogsFarrow to Finish*Farrowing this weekOct. 51.50 -.<strong>10</strong> 51.40/cwt. 31.97/cwt40.26/cwt.19.43/cwt11.14/cwt99%99%Feeder PigFinishing*Placed this weekJly. 57.06 -1.<strong>10</strong> 55.96/cwt. 42.52/cwt.45.62/cwt.13.44/cwt<strong>10</strong>.34/cwt99%99%*Total ConfinementCost of production figures may be obtained upon request. Each cost of production is an estimate of cost for a Georgia producer at the indicated yield. Participation inGovernment commodity programs can greatly affect the level of profitability for the various crop enterprises. Land and management cost are not included in the cropand livestock cost estimates. * Excludes LDP for crops.
GRAIN PRICE PROFILECash Bids and New Crop ContactsCORN WHEAT SOYBEANSLocation Cash Contract* Cash Contract** Cash Contract***Southwest Ga.Southeast Ga.Central Ga.<strong>No</strong>rthBrunswick*Aug-Sept Delivery **May-June Delivery ***Oct-Dec DeliveryCash Wheat Mill Direct - Macon -------FEED CASH PRICEMID WESTERN CORN SOYBEAN MEAL 48%This week Last week This week Last weekFOB NORTH GA. -------- -------- ----------- ----------FOB SOUTH GA. -------- -------- ---------- ----------FOB EAST GA. -------- -------- ------- ----------Georgia ASCS Posted Adjusted Market Price:Adjusted World Price CottonLIVESTOCK PRICE PROFILEGEORGIA AUCTION <strong>March</strong> 8, <strong>2007</strong>*Prices furnished by Federal State Market News, Thomasville, GA. For up-to-date prices call (1-800-342-1440)Medium Frame #1 Steers: 2-250 cwt $148-160 down $1 from last week; 250-3 cwt $127-150 down $3 from lastweek; 3-350 cwt $125-151 up $2 from last week; 350-4 cwt $119-142 up $3 from last week; 4-450 cwt $117-136 up$3 from last week; 450-5 cwt $<strong>10</strong>5-131 up $6 from last week; 5-550 cwt $99-120 down $7 from last week; 550-6 cwt$94-115 up $5 from last week; 6-650 cwt $88-<strong>10</strong>9 up $3 from last week; 650-7 cwt $85-<strong>10</strong>9 up $3 from last week;7-750 cwt $81-98 up $3 from last week; 750-8 cwt $76-94 down $2 from last week.Medium Frame #1 Heifers: 2-250 cwt $130-150 down $<strong>10</strong> from last week; 250-3 cwt $118-148 up $5 from lastweek; 3-350 cwt $112-130 up $2 from last week; 350-4 cwt $<strong>10</strong>5-119 same as last week; 4-450 cwt $<strong>10</strong>1-115 up $4from last week; 450-5 cwt $95-113 up $4 from last week; 5-550 cwt $89-<strong>10</strong>9 up $4 from last week; 550-6 cwt $85-<strong>10</strong>4 up $3 from last week; 6-650 cwt $80-99 up $2 from last week; 650-7 cwt $80-92 up $3 from last week.Slaughter Classes: Breakers $42-49 down $4 from last week; Boners $44-50 down $4 from last week; Boners HiYield $49-53 down $5 from last week; Lean $37-43 down $8 from last week.Live and Carcass Hog Price -Eastern Cornbelt Direct (3/7/07) Barrows & Gilts - Live Basis 240-280 lbs. $43.32-51.70 Average - 41.58 Carcass - 185 lbs $52-65 Average 59.43Sows 500 lbs.-up : $40.03-44 Average - 41.58John C. McKissickExtension Economist-LivestockGeorge ShumakerExtension Economist-Grain MarketingCOUNTY EXTENSION AGENT OR DIRECTOR
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