U.S. hog futures ended higher Monday, rallying to seven-week highs on signs that supplies could tighten next year. October lean hog gained 4 to 77.57, December lean hogs, the most active contract, closed up 137 to 75.12.
Cattle futures also rose Monday, with live cattle climbing on spillover support from hogs and equities.
October live cattle added 95 to $123, while feeder cattle gained 87 to $144.
At the livestock auction held Friday in Siler City a total of 1,237 cattle and 151 goats were sold. Slaughter cows trended 1.00 to 5.00 lower; bulls were 2.50 to 4.00 lower.
U.S. soybean futures fell Monday, shedding Friday's gains, as traders focused on greater-than-expected supply outlooks. Wheat futures also fell Monday, dropping as traders struggled to find justification for the market's strong gains Friday other than the jump in corn futures. Corn futures ended with modest gains, trading near unchanged levels for most of the day.
November Soybeans dropped 40 3/4 to $15.60, December wheat in Chicago ended down 18 ¼, Kansas City Board of Trade December wheat fell 20 1/2 to $9.07 and December Corn rose 1/2 to $7.56 3/4.
No. 2 yellow shelled corn trended mixed when compared to last report. Prices ranged $7.46-$7.70 at feed mills and $7.41-$7.82 at elevators. No. 1 yellow soybeans trended 41 to 51 cents lower and were $16.10 at processors, and $15.10-$15.30 at elevators. No. 2 red winter wheat was not quoted. Soybean meal, f.o.b. at processing plants was $514.50 per ton for 48% protein.
Cotton futures bounced from a two-month low, getting a boost from a weaker dollar and bargain-buying. Traders say this week will likely be quiet with top cotton consumer China out on holidays, unless there is a sharp turn in the USD. December cotton ended down a penny at 69.61, and March gained a fraction to 72.20.
Gold futures settled at the highest price in seven months Monday, after a U.S. central banker made the case for bond buying through next year and money managers boosted their stakes in the precious metals on the first day of the new quarter. December gold rose $9.40 to $1,783.30, and December silver closed at $34.95, up 37.50 cents
Crude-oil futures posted slight gains Monday as monthly data suggested an improvement in U.S. factory activity that could help boost fuel demand. November crude gained 29 cents to $92.48 a barrel, November gasoline ended unchanged at $2.92 a gallon, and November distillates fell 2.34 cents to $3.13 a gallon.
Natural-gas futures surged to their highest level all year Monday, as forecasts calling for lower temperatures in the coming weeks signaled a likely pickup in demand for gas-fired heating. November Natural gas jumped 16 cents to $3.48.
Wall Street stared a new quarter with a modest rally on Monday, lifted by surprising expansion in US manufacturing in September. The Dow gained 77 to close at 13,525, the Nasdaq closed at 3,113, down 2 and the S&P 500 gained 3 to close at 1,444.