M-4 Vol. XXX, No. 7 February 15, 2007 FUTURES MARKET WATCH ...
M-4 Vol. XXX, No. 7 February 15, 2007 FUTURES MARKET WATCH ...
M-4 Vol. XXX, No. 7 February 15, 2007 FUTURES MARKET WATCH ...
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M-4 <strong>Vol</strong>. <strong>XXX</strong>, <strong>No</strong>. 7 <strong>February</strong> <strong>15</strong>, <strong>2007</strong><strong>FUTURES</strong> <strong>MARKET</strong> <strong>WATCH</strong>Month Commodity 2/9 2/12 2/13 2/14 2/<strong>15</strong>MarchJulyCornCorn4.064.244.054.234.084.284.084.294.074.28MarchJulySoybeansSoybeans7.497.787.457.747.517.797.507.797.597.88MarchJulyWheatWheat4.604.834.564.794.504.754.514.754.534.78March Soybean Meal 217.90 218.90 222.60 222.60 225.10MarchDecemberCottonCotton52.7658.0052.2457.4051.7556.7551.7656.5953.6556.88MarchAprilFeeder CattleFeeder Cattle98.77100.2799.50101.10100.90102.30100.80102.25100.45102.22<strong>February</strong>AprilLive CattleLive Cattle93.2094.8093.7095.2794.2096.3094.2296.2794.1296.40<strong>February</strong>JulyLean HogsLean Hogs66.2775.9767.0576.7567.1277.6567.1277.70OPTIONS <strong>MARKET</strong> <strong>WATCH</strong> (2/<strong>15</strong>/07)Commodity Strike Put Premiums Call PremiumsCotton .58/lb. Mar6.01Wheat 4.60/bu. Mar.096Soybeans 7.40/bu. Mar.021Corn 4.00/bu. Mar.020Hogs 76.00/cwt. May2.40Fed Cattle 94.00/cwt. Apr1.35Feeder Cattle 100.00/cwt. Mar1.70May5.76May.146May.122May.110Jun2.60Jun3.50Apr2.05Jly5.18Jly.180Jly.182Jly.<strong>15</strong>3Jly3.00Aug----May2.<strong>15</strong>Mar0.28Mar.030Mar.207Mar.090May3.70Apr3.60Mar2.<strong>15</strong>May0.85May.224May.460May.290Jun4.35Jun2.50Apr4.2567.1277.67Jly2.78Jly.360Jly.584Jly.434Jly4.65Aug1.60May5.35FUTURE <strong>MARKET</strong> TREND ANALYSIS* Corn -Up; Soybeans -Up; Cattle - Up; Hogs - Up*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 2/8/07Corn 37,727 33,248 30,298 949,165 811,289 117%Soybeans 25,844 39,473 34,582 675,270 544,967 124%Wheat 13,101 23,005 16,434 592,611 717,668 83%Week Ending 2/10/07Cattle 623 645 585 3624 3526 103%Hogs 1952 2045 2020 12,100 12,087 100%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 4.78 -.25 4.53/ bu. 2.33/bu.3.56/bu..0/bu..97/bu.97%80%Corn - Irrigated<strong>15</strong>0 bu./acreDec. 4.04 .05 4.09/bu. 1.87/bu.2.80/bu.2.22/bu.1.29/bu99%98%Soybeans - Dry land30 bu./acre<strong>No</strong>v. 8.10 -.20 7.90/bu. 4.71/bu.7.01/bu.3.19/bu..89/bu92%72%BT/RR Cotton - Dryland650 lb./acreDec. .57 -.04 .53/lb. .48/lb..63/lb..5/bu.-.10lb.74%26%BT/RR Cotton -Irrigated1000 lb./acreDec. .57 -.04 .53/lb. .40/lb..57/lb..13/lb.-.4/lb.99%19%Feeder CattleWinter StockeringSell at 750 lbs.Apr. 102.22 -3.00 99.22/cwt 100.66/cwt104.58/cwt-1.44/cwt-5.36/cwt41%19%Fed CattlePlaced in this week sellat 1200 lbs.Aug. 90.<strong>15</strong> -1.50 88.65/cwt 83.69/cwt83.69/cwt4.96/cwt4.96/cwt99%99%HogsFarrow to Finish*Farrowing this weekAug. 55.70 -.60 55.10/cwt. 31.97/cwt40.26/cwt.23.13/cwt14.84/cwt99%99%Feeder PigFinishing*Placed this weekJun. 56.77 -3.10 53.67/cwt. 42.52/cwt.45.62/cwt.11.<strong>15</strong>/cwt8.05/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>February</strong> <strong>15</strong>, <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 $137-<strong>15</strong>5 down $2 from last week; 250-3 cwt $1130-<strong>15</strong>5 up $3 from last week;3-350 cwt $122-146 up $4 from last week; 350-4 cwt $114-139 up $4 from last week; 4-450 cwt $111-131 up $3from last week; 450-5 cwt $104-121 up $2 from last week; 5-550 cwt $95-1<strong>15</strong> up $2 from last week; 550-6 cwt $91-112 up $3 from last week; 6-650 cwt $85-103 up $5 from last week; 650-7 cwt $80-98 up $2 from last week;7-750cwt $80-94 up $1 from last week; 750-8 cwt $85-90 up $5 from last week.Medium Frame #1 Heifers: 2-250 cwt $125-132 down $22 from last week; 250-3 cwt $1<strong>15</strong>-131 up $6 from lastweek; 3-350 cwt $105-130 up $7 from last week; 350-4 cwt $100-119 up $3 from last week; 4-450 cwt $96-113 up$3 from last week; 450-5 cwt $90-111 up $3 from last week; 5-550 cwt $87-108 up $7 from last week; 550-6 cwt$80-96 up $2 from last week; 6-650 cwt $80-89 up $4 from last week; 650-7 cwt $82-84 up $1 from last week.Slaughter Classes: Breakers $46-52 down $2 from last week; Boners $47-57 same as last week; Boners Hi Yield $57-58 up $1 from last week; Lean $47-52 up $3 from last week.Live and Carcass Hog Price -Eastern Cornbelt Direct (2/14/07) Barrows & Gilts - Live Basis 240-280 lbs. $43.49-54.65 Average - 51.57 Carcass - 185 lbs $57-69 Average - 66.64Sows 500 lbs.-up : $36.04-39 - Average - 37.90John C. McKissickExtension Economist-LivestockGeorge ShumakerExtension Economist-Grain MarketingCOUNTY EXTENSION AGENT OR DIRECTOR
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