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Newspaper
Country Today
Location
Eau Claire, Wisconsin, United States of America
Date
Aug 13, 1986
Page
5
Market prices rose for most livestock classes in Midwest terminals last week, led by hogs up 2.50. Slaughter steers and heifers ranged steady to 2 higher, with early openings sharp then cautious bidding. Dressed pork value climbed while marketings stayed below year ago levels as weights under 220 pounds faced discounts.
Commodity Credit Corp loans on 1985 crop feed grains wheat soybeans and rye can extend loan maturity by 12 months. ASCS officials say extra time helps use on farm storage during harvest. Storage costs paid on all crops except soybeans, upon request, not before 30 days prior to original maturity. Rates vary by crop.
Corn prices plunged last week due to large stocks and improving new crop prospects. At Omaha yellow corn fell 18 to 23 cents to 1.62 to 1.72 while Minneapolis corn dropped to 1.59 a new low. Wheat traded mixed as export demand and harvest progress supported prices. Spring wheat in Minneapolis held steady, winter and durum moved unevenly. Rye, oats, and barley posted modest moves, while soybeans fell on rain and weak demand. Illinois No 2 yellow soybeans closed 25-26 cents lower at 4.95-5.06. Sunflower and flaxseed quotes were unavailable.
National Cheese Exchange blocks rise to 1.28 a pound and barrel cheese to 1.23 as butter prices hold. July manufacturing milk in Wisconsin and Minnesota averaged 11.09 per hundred for 3.52 percent butterfat, with 3.5 test at 11.06. U.S. butter output is down 4 percent from a year ago while cheese output climbs 4 percent.
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