Wednesday morning news concerning the hog and pork complex didn’t seem particularly supportive, since both cash and wholesale quotes were down somewhat. The fact that the morning direct market quotes aren’t very reliable, probably reduced their influence, but late-morning news that heavy hams were called steady-to three cents lower was not friendly. The intra-day reversal suffered by live cattle futures probably weighed on the swine market as well. Projections for a substantial drop by the CME index seemed likely to depress Chicago prices as well. The fact that the nearby contracts had risen slightly in the face of these factors was impressive. Wire service sources cited expectations for tightening supplies in the New Year for the rise. February hogs rose 0.10 cents to 84.25 and June was up 0.10 at 99.15.
Corn futures extend losses from WASDE report at midday
- Boggess named U.S. Dairy Forage Research Center director
- DHM Markets/Marketers: Product prices, April margins, dairy CPI
- Grain futures lagged the other ag markets Wednesday
- Inlets essential to tunnel ventilation success
- Soy, cotton futures led the ag markets Wednesday morning
- Ice cream makers scoop up awards for innovative flavors