Cattle Futures Close Limit Up
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Hog futures were supported by the drop in feed costs and buying across the livestock markets on Monday. August Hogs gained 247 to $127, October hogs gained 75 to $1.13.

U.S. live-cattle futures ended Tuesday at all-time peaks, lifted by sagging feed costs, which can encourage people who raise and feed cattle to bid more aggressively for a shrinking herd of available animals. August live-cattle closed limit up at $155, August Feeder-cattle surged by the exchange-imposed daily limit to $216.

Corn fell to the lowest price in more than four years as favorable weather is expected to boost yields to a record.  Corn futures for August delivery fell 3 3/4 to $3.60

Soybeans for delivery before the harvest this year rose while back-month contracts declined. August soybeans rose 8 1/4 to $11.84.

Wheat futures declined as increasing global inventories of the grain will mean fewer buyers will turn to the U.S., the world’s biggest exporter, for supplies.

September Chicago wheat fell 5 1/2 to $5.24, September KC wheat fell 6 3.4 to $6.21.

Cotton futures saw a bounce on Tuesday, due mostly to profit taking.  October cotton closed at 68.80, up 28 and December new crop closed at 67.91, up 22.

Gold futures retreated on Tuesday, as investors eyed the situation in Ukraine and as U.S. economic data pointed to continued recovery. August Gold fell $7.60 to $1,306.30, September silver closed at $21.00, off a fraction

Crude Oil futures retreated slightly Tuesday but held near three-week highs on expectations that strong demand from U.S. refineries would continue to shrink domestic oil supplies.  August crude fell 17 cents to $104.42 a barrel, August gasoline fell 1.07 cents to $2.88 a gallon, and August diesel dropped a fraction to $2.85 a gallon.

Natural-gas prices fell to an eight-month low on Tuesday, as a mild summer and growing stockpiles of the fuel discouraged investors. The latest forecasts indicate mild temperatures extending into what is usually the hottest period of the year, which would damp demand for natural gas used to generate electricity for air conditioning. August Natural gas finished down 7.7 cents at $3.77.

Stocks rose on Wall Street, Tuesday as some positive earnings and economic data pointed to a market that still had room to rise despite the S&P 500 hitting an intraday record high.  The Dow gained 61 to close at 17,113, the Nasdaq closed at 4,456, up 31 and the S&P 500 gained 10 to 1,983.

A native of the Texas Panhandle, Rhonda was born and raised on a cotton farm where she saw cotton farming evolve from ditch irrigation to center pivot irrigation and harvest trailers to modules. After graduating from Texas Tech University, she got her start in radio with KGNC News Talk 710 in Amarillo, Texas.

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