Market Recap: Cotton Futures Moderate Ahead of First Notice Day

Lean hog futures finished mixed in light volumes on Friday as traders weighed a pullback in pork prices against support from other markets. April hog futures rose 15 to 90.37, May hog futures finished up 45 at 98.90.

U.S. live cattle futures rose to fresh record highs on Friday due to a surge in demand from beef processors in cash markets. Feb. live cattle closed at $128, up 182, and March feeders gained 160 to close at $158.

US wheat futures ended higher, rallying on exports and uncertainty about Ukraine's ability to supply the world market. March wheat in Chicago ended up 15 1/4 to $6.44, while March wheat in KC climbed 6 1/2 to $6.89.

US corn futures ended higher on support from soybeans and recent strong export demand. March corn ended up 5 1/2 at $6.41.

CBOT soy futures rallied Friday, extending recent gains on strong exports and worries about Brazil's crop. March soybeans ended up 9 1/4 to $12.67, March soybean oil closed up 35 to 53.40, while March soybean meal ended up $1.70 to $332.50.

Cotton futures fell after ticking up for five sessions as the market prepares to go into first notice day on Tuesday. March cotton fell 100 to 91.45, and the May contract dropped 196 to close at 92.65.

Gold futures edged lower Friday, ending flat on the week, as drawn-out bailout talks in Greece frayed investor nerves and some traders trimmed their holdings ahead of a three-day break in the U.S. April gold slipped $2.50 to $1,725.90 an ounce, and Mar silver closed at $33.21, down 15.4 cents

U.S. crude futures settled at their highest level in nine months Friday, as optimism grew that Greece would get another bailout and the euro-zone was closer to resolving its sovereign-debt crisis. March crude gained93 cents to $103.24 a barrel, March gasoline fell 3.15 cents to $3.01 a gallon, and March distillates fell 2.08 cents to $3.18 a gallon.

Natural-gas futures settled up 4.6% at a three-week high Friday, continuing a rally sparked a day earlier when U.S. data showed supplies dropped by more than expected last week. March Natural-gas futures gained 11.7 cents at $2.68.

On Wall Street, stocks rose slightly on Friday, but investors stayed cautious before an long holiday weekend when hopes are set for Greece's bailout plan to be approved. The Dow gained 45 to close at 12,949, the NASDAQ closed down 8 at 2,951 and the S&P 500 gained 3 to finish the week at 1,361. is dedicated to serving the agricultural industry in the Carolinas and Virginia with the latest ag news, exclusive regional weather station readings, and key crop market information. The website is a companion of the Southern Farm Network, provider of daily agricultural radio programming to the Carolinas since 1974. presents radio programs, interviews and news relevant to crop and livestock production and research throughout the mid-Atlantic agricultural community.