Lean hog futures met an abrupt end to a multi-day rally as traders took profits and concerns about demand swelled. February hog futures fell 87 to 85.40, April hog futures closed down 42 to 87.50.
U.S. live cattle futures rose sharply Thursday due to a rally in feeder cattle and trader preparations for a government supply report due out this afternoon after the market closes. February live cattle 97 cent, or to $124, January feeders gained 77 to close at $151
US wheat futures ended higher on support from outside markets. March wheat in Chicago ended up 13 1/2 to $6.05, while March wheat in KC closed up 5 to $6.58.
US corn futures ended higher, rallying on renewed export demand. March corn ended up 12 1/2 to $6.06.
US soybean futures ended higher, with prices advancing on optimistic outlooks for export demand and support from a weaker US dollar, Soy product futures bounced with soybeans. March soybeans ended up 13 ½ at $11.97, March soy meal ended up $3.70 at $315.70; and March soy oil finished up 66 to 51.06.
ICE cotton futures climbed Thursday amid a weaker dollar and strong outside markets. March cotton closed at 98.17, up 64, just shy of the 2-month settlement high of 98.19 set Tuesday, and the May contract gained 69 to $97.99.
Gold futures edged lower Thursday as stronger U.S. economic data and worries about Europe's ongoing debt crisis overshadowed a stronger euro, chilling investor interest in the precious metal. February $9.10 $1,654.50, and March Silver fell 3.4 cents to $30.50.
Crude oil futures eased Thursday, settling modestly above $100 a barrel after U.S. data showed oil demand in the last four weeks fell to a 15-year low. February crude fell 20 cents to $100.39 a barrel, February gasoline futures dropped a fraction $2.81 a gallon, while February distillates rose 2.26 cents to $3.03 a gallon.
Natural gas futures plunged more than 6% to their lowest level in 10 years Thursday — after a government report showed another week of modest demand for the fuel. February Natural gas dropped 15 cents to $2.32.
A strong weekly jobs report, solid debt auctions in Europe and better-than-expected quarterly results from two financial giants unleashed the bulls on Wall Street for a third day in a row. The Dow gained 45 to close at 12,623, the Nasdaq closed at 2,788, up 18 and the S&P 500 gained 6 to close at 1,314.