Market Recap: Profit Taking Sends Hog Futures Lower

U.S. lean-hog futures ended lower Friday amid profit-taking and expanding supplies. October lean hogs ended down 57 to 86.70, the December contract also fell 57 to 83.45.
 

CME live-cattle futures were mixed in volatile trade. The market swung on both sides of unchanged during the session, with prices rallying early in the open outcry session in part on news that Merck & Co. was temporarily suspending sales of a widely used feed additive in the U.S., feeder-cattle futures climbed on the slump in corn.
August live cattle gained 2 to $123, while October live-cattle ended down 17 to $127, August feeder cattle ended up 67 to $154.

U.S. grain and soybean futures fell Friday, as traders took advantage of previous price increases to book profits before the weekend. September corn fell 7 3/4 to $4.73, September soybeans fell 5 to $12.83, September wheat in Chicago fell 6 1/2 to $6.31, and September KC wheat fell 4 3/4 to $6.98.

Cotton futures rose to a near 17-month high Friday as concerns about tight supplies spurred buying. December Cotton ended up 153at 93.32, and near month October gained 136 to 93.00

Silver roared into a bull market this past week, recording the biggest weekly gain in almost five years as upbeat global economic data fanned hopes for higher demand for the metal and pushed bearish investors to cash out. September Silver rose 38.7 cents to $23.32, and December Gold rose $10.10 to $1,371.00.
 

Oil futures edged higher Friday, as traders remained focused on the upheaval in Egypt and the prospect of oil-supply disruptions. September crude gained 13 cents to $107.46 a barrel, September gasoline fell 1.70 cents to $2.96 a gallon, and September distillates gained 1.03 cents to $3.08 a gallon.
 

Natural-gas futures declined Friday as some weather forecasts were adjusted for cooler temperatures following a brief projected warmup next week, while traders say recent tropical activity isn't expected to pose a major threat to production. September Natural gas dropped 5.2 cents to $3.36.
 

On Wall Street, stocks fell on Friday, following the largest one-day drop in almost two months a day earlier, as retailers took a beating after reporting lackluster earnings and high-dividend names were hurt by rising interest rates. The Dow fell 30 to end the week at 15,081, the Nasdaq closed at 3,602, down 3 and the S&P 500 fell 5 to 1,655.
 


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