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Morning Farm Report: Livestock prices mixed to end the week

Live cattle prices rose by $1.03 on Thursday to hit $152.38. This rise brought the 27-day average price to $154.43. Feeder cattle prices did not fare as well, dropping $2 to settle at $217.73, bringing the 27-day average price to $215.83.

Lean hog prices jumped $1.23 on Thursday, hitting $83.78. The 27-day average price is now at $81.02.

Corn prices saw a five cent rise, while wheat did even better with a nine cent increase.

Markets

Soy complex ends mixed on Thursday

The grain markets rallied again Thursday. After struggling or moving lower Wednesday, the crop markets turned upward overnight, with the grain markets continuing their advance this morning. Talk of excess rainfall in the U.S and potential dryness in Russia, Canada and Australia boosted wheat, with corn following right behind. Good export news also powered the yellow grain advance. July corn futures ended Thursday having risen 5.0 cents to $3.65/bushel, while December added 5.0 to $3.8225.

Markets

Grain markets rally Thursday at midday

The grain markets are rallying again. After struggling or moving lower yesterday, the crop markets turned upward overnight, with the grain markets continuing their advance this morning. Talk of excess rainfall in the U.S and potential dryness in Russia, Canada and Australia are boosting wheat, with corn following right behind. Good export news is boosting the yellow grain market. July corn futures rose 4.0 cents to $3.64/bushel around midsession Thursday, while December added 4.0 to $3.8125.

Markets

Hog futures end strong on Wednesday

The crop markets turned generally mixed Wednesday. The ongoing U.S. dollar rebound apparently continued weighing on the commodity markets, since a more valuable greenback increases costs faced by export customers. Good progress in planting the 2015 corn crop and the production implications of generally early plantings encourage bearish views on markets that are already well supplied. July corn futures slipped 2.0 cents to $3.60/bushel Wednesday, while December lost 3.0 to $3.7725.

Markets

Crop markets mixed Wednesday at midday

The crop markets turned generally mixed Wednesday morning. The ongoing U.S. dollar rebound apparently continues weighing on the commodity markets, since a more valuable greenback increases their cost to export customers. Good progress in planting the 2015 corn crop and the production implications of generally early plantings encourage bearish views on markets that are already well supplied. July corn futures slipped 1.5 cents to $3.605/bushel late Wednesday morning, while December lost 2.0 to $3.7825.

Markets

Morning Farm Report: Cattle prices rise for the first time this week

Cattle prices rise for the first time this week, with live cattle prices seeing a 40 cent raise to $151.98. This brings the 27-day average price to $154.97. Feeder cattle prices saw a 37 cent increase to hit $219.35 on Tuesday.  The 27-day average price is now sitting at $215.38.

Lean hogs did not fare so well with a 25 cent drop to hit $82.15 on Tuesday.

Corn prices fell six cents from $3.68 on Monday to $3.62 on Tuesday. Wheat saw an even steeper decline of 12 cents to hit $5.10.

Markets

Surging dollar depressed ag markets on Tuesday

The surging dollar seemed to depress the ag markets Tuesday. Monday’s USDA Crop Progress report stated U.S. corn plantings at 85% complete, which may have encouraged bears somewhat. In addition, the U.S. dollar rebounded rather dramatically from recent losses, thereby raising the implicit cost of U.S. goods to export customers. That apparently weighed upon the corn market. July corn futures closed 6.0 cents lower at $3.62/bushel Tuesday afternoon, while December lost 5.5 to $3.8025.

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