Market Recap: Hogs End Mixed Amid Slumping Wholesale Prices

CME lean-hog futures were mixed amid slumping wholesale pork prices. July lean-hogs ended down 27 to $100. Some deferred contracts were higher, with the October contract gained up 32 to 83.85

U.S. live-cattle futures ended higher on technical buying and underlying support from a rally in grain futures. August live-cattle ended up 65 at $122, while October live-cattle gained 52 to $126.

U.S. grain and soybean futures rallied Tuesday on a mix of speculative buying and worries about a hotter, drier weather forecast for Midwest crops. July corn settled up 12 1/4 at $7.04, July soybean rose 4 to $16.13, July wheat in Chicago rose 15 1/2 to $6.75 and July KC wheat rose 15 1/2 to $7.06

Cotton futures rose slightly in thin trade Tuesday, rebounding from a two-session slide. October cotton gained 1 to 86.68, and December new crop gained 92 to 86.25.

Gold futures climbed on Tuesday as investors bet that rising inflation in China would stoke demand for the metal as a hedge against rising prices in the second-largest gold consumer. August gold rose $11 to $1,245.90, September silver closed at $19.13, up 10.0 cents

Crude-oil futures rose modestly to settle at a 14-month high Tuesday ahead of U.S. data expected to show that continued strong demand from U.S. refiners is trimming crude inventories. August crude oil gained 39 cents to $103.53 a barrel. August gasoline gained 4.23 cents to $2.92 a gallon, and August distillates gained a fraction to $2.98 a gallon.

Natural gas futures moved lower Tuesday, slipping after sharp gains in the previous session as traders gauge how hot weather will influence gas usage. August Natural gas fell 4 cents to $3.70.

On Wall Street, stocks rose for the fourth session in a row on Tuesday as investors bet that companies will be able to surpass the low bar that has been set for earnings season, leaving room for better-than-expected results that could fuel the rally further. The Dow gained 75 to close at 15,300, the Nasdaq closed at 3,504, up 19 and the S&P 500 gained 11 to 1,652. 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.