U.S. lean hog futures ended higher, as expectations of tightening supplies offset demand concerns. CME lean hogs for June closed up 3 to 93.32, while August lean hogs were up 25 at 92.70.
U.S. live cattle futures ended lower Monday as the market succumbed to outside markets and sluggish beef prices. June live cattle ended down 37 to $119, Feeder cattle were higher, with the August contract climbing 87, cent to $160.
US corn futures closed lower as rains in Iowa and Illinois brought more relief from dryness than expected, and on greater expectations for rain in the Corn Belt starting this weekend. Traders were also positioning ahead of key USDA reports due out this morning, with some selling futures to exit long positions. Soy futures also ended slightly lower on the US rains. Wheat futures ended mixed, giving up earlier gains due to pressure from corn falling. July corn fell 6 to $5.92, July soybeans fell 1 1/2 to $14.24, July wheat in Chicago gained 1/4 to $6.30, July wheat in KC fell 3 to close at $6.53.
NY cotton futures jumped to settle at a three-week high, lifted by short covering. July Cotton ended at 75.09, up 219, the October contract gained 3 to close at 68.75.
Gold ended a touch higher Monday, after shedding most of its weekend gains earlier in the day, as euro-zone worries tempered initial optimism over Spain's bailout. August gold gained $5.40 to $1,596.80 an ounce, and July silver closed at $28.61, up 14.5 cents
Volatile crude oil futures fell to their lowest in eight months Monday amid signs that global oil supplies are sufficient to meet demand, even as implementation of tougher sanctions on Iran draws nearer. July crude fell $1.40, to $82.70 a barrel, the lowest level since Oct. 6, 2011. July gasoline settled at the lowest level since late December, falling 2.86 cents, to $2.65 a gallon, and July distillates fell 3.64 cents to $2.63 a gallon.
Natural-gas futures settled at their lowest level in six weeks Monday, as traders weigh warming temperatures against the massive amount of natural gas held in storage. July Natural gas dell 8.1 cents to $2.21.
On Wall Street, U.S. stocks fell on Monday as Europe's aid package for Spanish banks did little to alleviate investor concerns about the euro zone's finances and the slowdown in the global economy. T he Dow fell 142 to close at 12,411, the Nasdaq closed at 2,809, down 48 and the S&P 500 fell 16 to 1,308.