Market Recap: Grains & Oilseeds End Lower on Economic Fears

U.S. livestock futures rallied sharply on Friday as investors prepared for the possibility of a seasonal rebound in red meat demand.

Lean hog futures extended their prior-day rally on growing suspicion that pork prices are poised for a seasonal upturn.

February hogs were up 165 at 85.60, April hogs closed up 47 at 87.05.
February live Cattle rose 122 to $122, January feeder cattle reached a record-high closing price of $150, up 110.

US wheat futures end lower amid spillover pressure from corn and worries about Europe's debt problems. March wheat in Chicago ended down 2 3/4 to $6.02; and March wheat in KC closed down 3 to $6.70.

US corn futures ended lower, extending their slump on Thursday's USDA report and fresh worries about the economy. March corn fell 12 to $5.99.

US soybean futures ended lower, declining as traders extract weather premium from prices, Soy product futures tumbled with soybeans. March soy ended down 24 1/4 at $11.58, March soy meal dropped $5.60 to $301.50, and March soy oil fell 1.17 to 50.29.

Cotton traded lower after a higher opening, the strong dollar weighed on prices. March cotton fell 22 to close at $95.47, and the May contract fell 17 to $95.08.

Gold prices fell on Friday for the first time in four days as cautious investors moved to the sidelines ahead of expected credit-ratings downgrades in the euro zone. February gold fell $16.90 to $1,630.80, and February silver fell 60 to $29.49.

Crude futures fell Friday in tandem with a slumping euro as Standard & Poor's prepared to downgrade France's credit rating, adding new fears about Europe's economy. February crude dropped 40 cents to $98.70 a barrel, February gasoline gained a fraction to $2.73 a gallon, and February distillates fell 2.69 cents to $3.02 a gallon.

Natural-gas futures prices fell 1% Friday, capping a week-long slide of near 13%, as a growing oversupply pushed prices to a fresh 28-month low of $2.67 per million British thermal units. February natural gas fell 2.7 cents.

Wall Street came back from heavy losses in afternoon action as traders weighed a flurry of media reports suggesting Standard & Poor's will soon slice the credit rating of several eurozone countries. The Dow fell 48 to finish the week at 12,422, the Nasdaq closed at 2,710, down 14 and the S&P 500 fell 6 to close at 1,289. 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.