Market Recap: Hog Futures Weighed by Quarterly Report
US grain and soybean futures ended higher, managing to carry marginal gains into the close. Wheat led the gains, buoyed by larger than expected weekly export sales data, with corn garnering a late boost from end of the week profit taking on bets prices would decline. Soybeans edged higher, supported by fresh export sales announcements. March wheat in Chicago ended up 6 1/2 at $7.78, March wheat in KC gained 2 ¾ to $8.26, March corn finished up 2 1/2 at $6.94 4, and March soybeans closed up 4 at $14.18
No. 2 yellow shelled corn trended 2 to 3 cents higher when compared to last report. Prices ranged $6.84-$7.64 at feed mills and $6.89-$7.54 at elevators. No. 1 yellow soybeans trended 4 to 6 cents higher and were $13.98 at processors, and $13.44-$13.90 at elevators. No. 2 red winter wheat was not quoted. Soybean meal, f.o.b. at processing plants was $477.70 per ton for 48% protein.
The NC egg market is steady on all sizes. Supplies are moderate. Retail demand is moderate. Weighted average prices for small lot sales of Grade A eggs delivered to nearby retail outlets: Extra Large 141.45, Large 141.59, Medium 115.99 and Small 102.00.
CABBAGE: 50 lb cartons Round Green Type med 7.00-8.00.
Cotton futures stumbled despite a robust USDA export sales report as investors squared their books for the end of the month and year. Futures are likely to continue to trade sideways to lower in light volume until after New Year's Day. March cotton fell 13 to 74.66, and the May contract lost 10 to close at $75.59
January gold fell $7.80 to end the week at $1,655.30 an ounce and January silver fell 27 cents to $29.92.
U.S. oil prices edged lower Friday on concerns about U.S. fiscal talks and after a U.S. inventory report showed surprisingly robust oil and petroleum product inventories.
February crude settled at $90.80 per barrel on a day of light trading, down 7 cents. Front-month gasoline finished at $2.80 per gallon, down 2.1 cents. Front-month distillate futures settled at $3.04 a gallon, down 2.8 cents.
Natural gas futures ended higher Friday, after a government report showed stockpiles rose in line with expectations. February Natural gas gained 5.7 cents to $3.46
Stocks fell for a fifth straight day on Friday, dropping 1 percent and marking the S&P 500's longest losing streak in three months as the federal government edged closer to the "fiscal cliff" with no solution in sight. The Dow fell 158 to 12,938, the Nasdaq closed at 2,960, down 15 and the S&P 500 lost 15 to end the week at 1,402.