Lean-hog futures finished narrowly lower, as the strengthening U.S. dollar sparked concerns that already sluggish U.S. pork exports could weaken further. May hog futures finished flat with Thursday's close at 92.00, and Most-active June futures dropped 7 to 90.50.
U.S. live-cattle futures finished mostly higher Friday, propped up by a string of record-breaking highs in wholesale beef prices. June live-cattle fell 1 to $120, August live-cattle advanced 25 to $120.
At the livestock auction held Thursday at Smithfield a total of 470 cattle and no goats were sold. Slaughter cows trended mostly $1.00 to $3.50 higher, feeder steers trended steady to $9.00 lower, and heifers trended $1.00 to $7.00 lower when compared to the previous sale. Average dressing slaughter cows brought $68.00 to $79.00. Average dressing slaughter bulls, 1000 lbs. & up, sold at $83.00 to $93.00 with high dressing up to $100.00.
Corn futures prices fell after the U.S. government forecast a record harvest this autumn and said domestic supplies will more than double by next year. Soybean futures fell after the USDA forecast domestic stocks of 265 million bushels next summer, above the average analyst prediction of 239 million bushels. Wheat futures fell along with corn prices. May Corn fell 6 3/4 to $6.87, May soybean futures fell 3 to $14.88, May wheat in Chicago fell 19 1/2 to $6.96, and May wheat in KC fell 20 ½ to $7.71.
N.C. BROILER-FRYERS: The market is steady and the live supply is adequate to meet the moderate demand. Average weights are heavy. The estimated slaughter for Friday and Saturday in North Carolina is 2,791,000 head compared to 2,926,000 head last Friday and Saturday.
The N.C. egg market is steady on small, higher on the balance. Supplies are light. Retail demand is good. Weighted average prices for small lot sales of Grade A eggs delivered to nearby retail outlets: Extra Large 125.76, Large 124.98, Medium 109.95 and Small 82.00.
No. 2 yellow shelled corn trended 12 to 13 cents lower when compared to last report. Prices ranged $6.86-$7.37 at feed mills and $6.56-7.11 at elevators. No. 1 yellow soybeans trended 3 to 9 cents lower and were $14.79 at processors, and $13.84-$14.88 at elevators. No. 2 red winter wheat was 20 cents lower and was $5.54 at the elevators. Soybean meal, f.o.b. at processing plants, was $476.80 per ton for 48% protein.
Cotton futures whipsawed after the release of the U.S. Department of Agriculture's supply and demand estimates Friday, before skidding to a one-week low. July cotton fell 144 to 86.48, and December new crop dropped 119 to 85.82.
Gold sank to a two-week low on Friday on worries about global demand for the metal and the U.S. dollar's surge. June gold fell to $1,436.60, and July silver closed at $23.65 down 25.3 cents.
Crude-oil futures fell Friday on a stronger U.S. dollar and new indications of sluggish global fuel demand. June crude fell 35 cents to $96.04 a barrel, June gasoline fell 2.48 cents to $2.86 a gallon, and June distillates finished the week at $2.90 a gallon.
Natural-gas futures fell Friday to a five-week low as the market has slipped into the demand lull between the peak winter and summer seasons. June nat gas lost 7.3 cents to $3.91.
On Wall Street, the Dow and S&P 500 ended at record highs on Friday, and stocks posted a third consecutive week of gains as a rise in Google and other tech shares offset a slide in energy costs. The Dow gained 35 to 15,118, the Nasdaq closed at 3,436, up 27 and the S&P 500 gained 7 to close at 1,633.