Lean hog futures closed mostly lower on Friday. The market was choppy today as traders took a break from recent weakness. Lean hog futures were able to trade higher on Thursday despite a big decline in most other commodities. There is talk of firm cash trade next week as market ready supplies tighten. However, poor packer margins will likely limit strength. June closed 5 cents lower at $92.38 and August was 25 cents lower at $93.95.
Corn futures closed with strong losses on Friday. Futures were pressured by strength in the dollar, weakness in crude oil futures and improved planting conditions in the central and western Corn Belt. Drier weather has allowed for some planting progress this week and forecasts turned a little drier for the eastern Midwest. July ended 22 1/2 cents lower at $6.86 1/4 and December was 15 1/2 cents lower at $6.40 1/4.
Soybean futures traded slightly higher on Friday. Short-covering from recent losses helped push prices slightly higher today. However, gains were limited by strength in the dollar and weakness in crude oil futures. Recent losses have also been attributed to sluggish export demand as China has slowed purchases and as global demand has shifted to South America. July closed 4 1/4 cents higher at $13.26 and November was 1 3/4 cents higher at $13.08 1/2.