Livestock Futures Get a Boost from Increased Demand

Cattle futures continued to climb Tuesday, lifted by signs of strengthening demand for livestock and beef.

February live-cattle futures rose 52 to $136, Cattle futures for April rose 87 to $135, Feeder-cattle futures for March were up 185 to $157

Hog futures settled higher, lifted by buying across the livestock markets. April hog futures rose 70 to 69.95, the May contract gained 27 to 76.30.

Grain and soybean futures dropped Tuesday as world farmer selling and concerns over demand weighed on prices for the crops.

Soybeans fell to a nearly two-week low as farmer selling pressured prices while worries mounted over increasing export competition from South America and speculation that U.S. farmers may expand planted soybean acreage this spring. Corn slid amid an uptick in farmer selling, as U.S. growers unlock storage-bin doors in time to pay their expenses ahead of spring planting. Wheat prices fell to a fresh more than five-year low, pressured by a rising U.S. dollar and sluggish demand for domestic grain supplies.

March Soybean dropped 11 3/4 to $8.69, March corn declined 5 1/2 to $3.62, March Chicago wheat shed 10 1/2 to $4.48, and March KC wheat fell 7 ½ to $4.56

Cotton futures continued to slide Tuesday with little news to push futures higher.  May cotton fell 69 to 58.00, and the July contract fell 69 as well to 58.31.

Gold futures rose Tuesday, snapping a three-session losing streak as investors sent money back into the safe-haven metal amid resurfacing concerns about a glut of oil supplies and slower Chinese growth.  March gold gained $14.80 to $1,224.50, and March silver closed at $15.27, up 8 cents.

Oil futures slid Tuesday as Saudi Arabian Oil Minister Ali al-Naimi said that production cuts aren’t forthcoming. April crude fell $1.52 to $31.87 a barrel, Gasoline futures settled down 3.43 cents at 96.63 cents a gallon, and Diesel futures fell 3.3 cents to $1.02 a gallon.

Natural gas futures fell to a two-month low Tuesday as forecasts continued to call for moderate indoor-heating demand. March nat gas fell 3.9 cents to $1.78

Wall Street stocks slid on Tuesday, hurt by pressure from a renewed drop in oil prices, undercutting momentum that had helped the market rebound from a sluggish start to the year.  The Dow fell 188 to 16,431, the Nasdaq closed at 4,503, down 67, and the S&P 500 fell 24 1,921.

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.