Lean hog futures were mostly sharply higher Tuesday on growing confidence that prices for hogs and pork are nearing seasonal lows. December hog futures were the lone loser in the complex, closing down 12 at 86.45, February hog futures rose 9 at 89.80.
U.S. live cattle futures ended a six-day selloff on Tuesday as investors repositioned in the face of a foggy outlook for beef demand and cattle supplies. December live Cattle rose 162 at $121, November Feeder cattle gained 97 to $143 a pound.
US wheat futures ended higher, recovering from prior declines on spillover strength from soybeans and some technical buying. December wheat in Chicago rose 17 to $6.32, December wheat in KC ended up 13 at $7.05 and December MGE wheat added 3 3/4 to $9.31.
US corn futures climbed, buoyed by spillover support from a spike in soybean prices and renewed optimism about global demand. December corn ended up 12 at $6.45.
US soybean futures rallied, continuing a three-session rebound as technical buying and market perceptions of fresh export demand boosted the market Tuesday, Soy product futures ended higher. January soybeans rose 22 to $12.02, Dec soy oil ended up 1.38 at 52.60, and Dec soy meal gained $2.20 to $301.40.
ICE cotton for December delivery jumps 3.7%, less than a week after the USDA reported a sale of close to 1M bales to top importer China. December cotton gained 187 to $1.02, and the March contract closed limit up at $1.00.
Gold prices carved out a small gain Tuesday as the dollar pared earlier gains against other currencies, restoring some of the precious metal's allure to foreign buyers. December gold rose $3.80 to $1,782.20.
Oil futures made a run at $100 a barrel Tuesday on a combination of encouraging economic data and expectations that the supply picture is tightening. They came within 16 cents of the psychologically important benchmark before falling back.
December crude gained $1.23 at $99.37 a barrel, December gasoline gained 5.04 cents to $2.58 a gallon, and December distillates gained a fraction to $3.17 a gallon.
Natural gas futures settled at over a one-year low Tuesday as milder weather forecasts added to worries of an expanding supply glut at a time when seasonal demand traditionally accelerates. December Natural gas fell 5.4 cents to $3.40.
Shrugging off the latest batch of euro-zone jitters, the Dow inched higher and the Nasdaq Composite rallied 1%, amid upbeat data on retail sales, inflation and manufacturing. The Dow gained 17 to close at 12,096, the Nasdaq closed at 2,686 up almost 29, and the S&P 500 gained 6 to finish the day at 1,257.