Lean hog futures closed lower as cash markets continue to point to soft demand against a backdrop of ample supplies. February hog futures ended their first full session as the spot contract by closing down 85 to 85.47, April hog futures fell 55 to 88.05.
U.S. live cattle futures enjoyed a modest rally Thursday due to encouraging fundamentals and improved confidence after surviving a sharp broad-market selloff in markets on Wednesday. December cattle closed up 57 to $118, Feeder cattle for January rose 0.2%, to $1.4397
US wheat futures end slightly lower as weak exports and pressure from corn offset a weaker dollar and gains in soybeans. March wheat in Chicago ends down 1 1/2 to $5.79, March KC in wheat ended up 3/4 at $6.36.
US corn futures ended lower, falling to a fresh nine-month low in a move traders say could spur more liquidation. March corn ended down 1 3/4 to $5.79.
US soy futures ended higher amid worries about the South American crop. March soy ended up 11 ¾ at $11.11, March soybean oil gained 56 to 49.36, while March soybean meal ended unchanged at $286.30.
Cotton closed higher on Thursday as the euro rose against the dollar. March cotton gained 117 to close at $86.29, and the May contract gained 107 to $$85.86.
Gold futures settled at a fresh five-month low Thursday, unable to sustain a bounce in prices as traders eyed a still fragile euro and disappointment over the absence of a fiscal stimulus. February gold fell $9.70, to $1,577.20 an ounce, and Mar silver closed at $29.27, up 33.9 cents.
Oil futures pushed lower Thursday, ending at their weakest level in six weeks, as worries about global oil demand sent prices spiraling for a second session. January crude dropped $1.08 to $93.87 a barrel, January gasoline fell 1.6 cents to $2.48 a gallon, and January distillates fell a fraction to $2.82 a gallon.
Natural-gas futures slipped to a fresh 27-month low Thursday as the outlook for prolonged warmer-than-normal temperatures trumped a modest drop in inventories. January nat gas futures fell a fraction to $3.12.
Wall Street put an end to its three-day losing streak amid economic data, but traders remained cautious over Europe's debt crisis. The Dow gained 45 to close at 11,868, the Nasdaq closed at 2,541, up one and the S&P 500 gained almost 4 to close at 1,215.