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Market Recap: Hogs Enjoy Strong Gains to End Week

U.S. lean-hog futures enjoyed strong gains Friday, lifted by technical factors in the wake of traders' concerns about fast-expanding supplies. October Hog gained 57 to 76.20, the December contract gained 70 to 73.60.

Live-cattle futures finished narrowly mixed as traders weighed signs of growing demand across the beef supply chain against caution over extending recent gains. August Live Cattle inched up 22 to $121, August feeders gained 10 to $140.

At the livestock auctions held Thursday at Smithfield a total of 418 cattle and 0 goats were sold. Slaughter cows trended 3.00 to 9.00 lower and feeder calves were mostly 2.00 to 7.00 higher when compared to last week’s sales.

At the state graded feeder cattle sale in Norwood, a total of 418 steers and 255 heifers were sold.

US grain and soybean futures ended higher Friday, with wheat futures rising for the third consecutive day on optimism for US export demand amid tightening Black Sea wheat supplies. Crop uncertainties and a strong demand base supported soy futures, while corn closed near unchanged, as traders are content with price levels until definitive harvest reports can solidify current yield estimates. September wheat in

Chicago gained 12 3/4 to $8.74, September wheat in KC gained 13 to $8.85, November soybeans closed up 20 1/2 at $16.45, and December corn fell 1/4 at $8.07.

No. 2 yellow shelled corn trended steady to 1 cent higher when compared to last report. Prices ranged $7.97-$8.74 at feed mills and $7.92-8.47 at elevators. No. 1 yellow soybeans trended 20 cents higher and were $16.95 at processors, and $16.00-$17.06 at elevators. No. 2 red winter wheat trended 1 cent higher. Prices were $7.72-$7.97 at the elevators. Soybean meal, f.o.b. at processing plants was $587.70 per ton for 48% protein.

Cotton futures gained as traders factored potential demand from China and a possible disruption to exports from India into the market. December cotton gained 71 to 73.30, and near month October gained 29 to 72.66.

Crude futures rose for the fourth-straight session Friday as investors grew skeptical about the possibility of a release of strategic oil reserves and the head of the International Energy Agency said there were sufficient supplies in the oil market. September crude gained 41 cents to $96.01 a barrel, September gasoline fell 5.57 cents to $3.02 a gallon, and September distillates fell 3.03 cents to $3.09 a gallon.

Natural-gas futures ended lower Friday in choppy trading, brushing aside a bullish inventory report released earlier in the day. September Natural gas closed at $2.72, down 2.4 cents.

On Wall Street, the S&P 500 held near a four-year high on Friday, and the market's key gauge of anxiety sank to its lowest since 2007, suggesting a belief that the problems stressing investors might be closer to a resolution. The Dow gained 25 to 13,275, the Nasdaq closed at 3,076, up 14, and the S&P 500 gained 2 2/3 to finish the week at 1,418. 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.