M-4 Vol. XXVI, No. 41 October 14, 2004 FUTURES MARKET ...
M-4 Vol. XXVI, No. 41 October 14, 2004 FUTURES MARKET ...
M-4 Vol. XXVI, No. 41 October 14, 2004 FUTURES MARKET ...
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M-4 <strong>Vol</strong>. <strong>XXVI</strong>, <strong>No</strong>. <strong>41</strong> <strong>October</strong> <strong>14</strong>, <strong>2004</strong><strong>FUTURES</strong> <strong>MARKET</strong> WATCHMonth Commodity 10/8 10/11 10/12 10/13 10/<strong>14</strong>DecemberJulyCornCorn2.042.282.052.292.022.272.052.292.042.29<strong>No</strong>vemberMarchSoybeansSoybeans5.285.445.395.545.135.285.095.235.155.28DecemberJulyWheatWheat3.033.233.033.223.113.293.133.293.<strong>14</strong>3.31<strong>October</strong> Soybean Meal 157.10 160.80 153.30 151.20 152.50<strong>October</strong>DecemberCottonCotton47.3549.3746.5248.6044.7946.7046.0047.4046.4247.46<strong>October</strong>AprilFeeder CattleFeeder Cattle113.10102.80113.47103.301<strong>14</strong>.25103.801<strong>14</strong>.10103.751<strong>14</strong>.12103.40<strong>October</strong>DecemberLive CattleLive Cattle86.2388.5086.4088.6786.7788.7286.0588.3586.2588.10DecemberFebruaryLean HogsLean Hogs66.7065.7066.3065.6264.3064.0564.6764.67OPTIONS <strong>MARKET</strong> WATCH (10/<strong>14</strong>/04)Commodity Strike Put Premiums Call PremiumsCotton .46/lb. Dec1.68Wheat 3.10/bu. Dec.086Soybeans 5.20/bu. <strong>No</strong>v.104Corn 2.00/bu. Dec.044Hogs 64.00/cwt. Dec2.70Fed Cattle 86.00/cwt. Dec1.80Feeder Cattle 1<strong>14</strong>.00/cwt. Oct0.50Mar2.86Mar.106Jan.202Mar.040Feb3.50Feb2.60<strong>No</strong>v0.85May2.99May.113Mar.240May.034Apr4.62Apr4.00Jan----Det2.20Dec.126<strong>No</strong>v.060Dec.087Dec3.55Dec4.50Oct0.62Mar4.31Mar.253Jan.2<strong>14</strong>Mar.184Feb4.37Feb6.30<strong>No</strong>v0.9064.8564.87May5.32May.296Mar.3<strong>14</strong>May.244Apr3.47Apr5.20Jan0.50FUTURE <strong>MARKET</strong> TREND ANALYSIS * Corn - Down; Soybeans - Down; 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(1000Bu.) This Week Last WeekYearAgoTotal to DateFor Mktg.YearTotal to DateLast Year% This YearOf LastWeek Ending 10/7/04Corn 34,693 36,839 33,971 177,235 183,045 97%Soybeans 18,079 15,979 26,524 62,467 58,423 107%Wheat 20,645 30,624 23,352 <strong>41</strong>6,304 423,655 98%Week Ending 10/9/04Cattle 628 643 638 25,116 27,958 90%Hogs 2005 2070 2073 77,775 75,616 103%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 3.31 -.25 3.06/bu. 2.33/bu.3.56/bu.. 75/bu.-.50/bu.80%18%Corn - Irrigated150 bu./acreDec. 2.04 .05 2.09/bu. 1.87/bu.2.80/bu..22/bu-.71/bu.81%1%Soybeans - Dry land30 bu./acre<strong>No</strong>v. 5.15 -.20 4.95/bu. 4.71/bu.7.01/bu..24/bu.- 2.06/bu.56%11%BT/RR Cotton - Dryland650 lb./acreDec. .47 -.04 .43/lb. .48/lb..63/lb.-.5/lb-.21/lb.29%2%BT/RR Cotton -Irrigated1000 lb./acreDec. .47 -.04 .43/lb. .40/lb..57/lb..2/lb-.15/ lb.80%1%Feeder CattleWinter StockeringSell at 750 lbs.April 103.40 -3.00 100.40/cwt. 102.19/cwt.106.21/cwt.-1.79/cwt.-5.81/cwt.22%3%Fed CattlePlaced in this week sellat 1200 lbs.Apr. 87.30 -1.50 85.80/cwt 84.31/cwt84.31/cwt1.49/cwt1.49/cwt57%57%HogsFarrow to Finish*Farrowing this weekApr. 45.88 -2.80 43.08/cwt. 31.24/cwt39.50/cwt.11.84/cwt3.59/cwt.99%93%Feeder PigFinishing*Placed this weekFeb. 47.36 -1.70 45.66/cwt. 42.06/cwt.45.16/cwt.3.59/cwt.- .50/cwt.96%57%*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. 2.06 2.06 ----- 2.86 4.74 4.74Southeast Ga. 1.86 1.86 2.84 2.80 4.83 4.91Central Ga. 1.94 1.94 2.84 3.06 4.91 4.91<strong>No</strong>rth 1.94 1.94 2.90 3.21 5.00 5.00Brunswick 2.24 ---- 3.34 ---- 4.95 ----*Aug-Sept Delivery **May-June Delivery ***Oct-Dec DeliveryFEED CASH PRICECash Wheat Mill Direct - Macon ------MID WESTERN CORN SOYBEAN MEAL 48%This week Last week This week Last weekFOB NORTH GA. 2.64/bu. 2.66/bu. 165.50/ton 172.00/tonFOB SOUTH GA. 2.74/bu. 2.76/bu. 167.50/ton 165.00/tonFOB EAST GA. 2.69/bu. 2.71/bu. ------- ----------Georgia ASCS Posted Adjusted Market Price: Corn - 1.91; Wheat - 2.84; Soybeans - 4.74Adjusted World Price Cotton: 38.42LIVESTOCK PRICE PROFILEGEORGIA AUCTION <strong>October</strong> <strong>14</strong>, <strong>2004</strong>*Prices furnished by Federal State Market News, Thomasville, GA. For up-to-date prices call (1-800-342-<strong>14</strong>40)Medium Frame #1 Steers: 2-250 cwt $<strong>14</strong>5-160 down $4 from last week; 250-3 cwt $<strong>14</strong>0-155 down $5 from lastweek; 3-350 cwt $130-150 up $3 from last week; 350-4 cwt $125-138 up $1 from last week; 4-450 cwt $115-130 up$4 from last week; 450-5 cwt $105-120 up $1 from last week; 5-550 cwt $101-1<strong>14</strong> up $3 from last week; 550-6 cwt$96-108 up $2 from last week; 6-650 cwt $93-105 up $2 from last week; 650-7 cwt $95-98 up $2 from last week; 7-750 cwt $90-97.Medium Frame #1 Heifers: 2-250 cwt $132-<strong>14</strong>0 up $4 from last week; 250-4 cwt $120-131 up $1 from last week; 3-350 cwt $111-129 up $1 from last week; 350-4 cwt $110-125 up $4 from last week; 4-450 cwt $105-120 up $4 fromlast week; 450-5 cwt $99-113 up $3 from last week; 5-550 cwt $95-105 same as last week; 550-6 cwt $92-105 up $4from last week; 6-650 cwt $88-99 up $2 from last week; 650-7 cwt $88-98 same as last week.Slaughter Classes: Breakers $43-49 down $4 from last week; Boners $47-53 down $1 from last week; Boners Hi-Yield $48-54 down $1 from last week; Lean $45-51 same as last week.Live and Carcass Hog Price -Eastern Cornbelt Direct (10/13/04)Barrows & Gilts - Live Basis 240-280 lbs. $50.77-56.80/cwt, Average - $52.52/cwt, Carcass - 185 lbs $62.75-69.77Average - $68.40/cwt.Sows 500 lbs.-up : $45-50.31; Average - $47.60.John C. McKissickExtension Economist-LivestockGeorge ShumakerExtension Economist-Grain MarketingCOUNTY EXTENSION AGENT OR DIRECTOR
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