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Market Recap: Cotton Futures Stagnate in High Prices

  Program 6592  (download mp3)
  Posted on Mon, Nov 7, 2011


Lean-hog futures closed slightly higher even as supplies continue to swell. December lean hog futures fell 25 to 86.85, the February hog closed up 35 to 90.10.
 

Live cattle futures finished flat Friday, marking the end to a three-day rally that pushed the market to a new all-time high. December Live cattle unchanged at $124, November feeders gained 52 to $142.

US wheat futures ended mixed, with nearby CBOT and MGE contracts posting gains amid tight farmer selling. Dec wheat in Chicago ended up 3/4 to $6.36, Dec wheat in KC finished down 2 at $7.18; and Dec. MGE wheat closed up 6 3/4 to $9.23.
 

US corn futures finished slightly higher on uncertainty about supplies and end-user buying. December corn closed up 2 1/4 at $6.55
 

US soybean futures ended lower, as traders took profits on prior gains ahead of the weekend, Soy-product futures ended mixed. Jan soy ended down 6 1/4 at $12.21, December soy meal ended up 90 at $315.40 while December soy oil dropped 16 to 51.87.

Cotton futures end the week with a small bump, but the market remains rangebound, with scarce demand for US-grown fiber. December cotton gained 62 to close at $98.74, and the March contract gained 66 to finish the week at $98.46.

Gold futures fell Friday as investors headed to the sidelines before of a vote that could topple the Greek government and renew fears that the debt-laden country may soon default. December gold fell $9 to $1,756.10 an ounce.
 

Crude futures rose slightly Friday after a choppy day, with the market whipsawed by conflicting trends and data. December crude ended the day 19 cents higher at $94.26 a barrel, December gasoline gained 2.16 cents, to $2.66 a gallon, and December distillates gained 3.26 cents to $3.07 a gallon.
 

Natural gas futures finished nearly unchanged Friday, as traders balanced high inventories with the prospect of falling temperatures that could spur gas-fired heating demand. December Natural gas gained a fraction to $3.78.
 

Stocks bounced well off their lows, but the comeback wasn’t enough to prevent the bears from halting Wall Street’s five-week win streak amid Euro debt fears. The Dow lost 61 to end the week at 11,983, the Nasdaq closed at 2,686, down 11 and the S&P 500 lost almost 8 to end the week at 1,253.
 

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  Regulatory Title in New Farm Bill Proposed
  NC’s Soybean Harvest Progressing….slowly
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  Market Recap: Soybean Futures Gain on Demand
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