We’re seeing more market-ready pigs than expected, and loin values also are lower than anticipated. These factors, among others, are weighing down prices, but lower retail prices could trigger higher demand.
Natural gas spot prices fall at most locations. After prices rose in trading last Thursday, with forecasts of warmer temperatures and a three-day holiday weekend, prices across the country fell on Friday.
Big export sales boosted the corn market. Despite the negative export implications of the ongoing U.S. dollar surge, corn futures rallied in response to today’s weekly USDA Export Sales report. The 2.185 million tonne total was the largest result since early January 2008, which highlights its sheer size and says good things about export demand. March corn bounced 1.25 cents to $3.85/bushel late Friday morning, while July rose 1.5 to $4.0075.