Market Recap: Strong Gains for the Lean Hog Market

Posted on 04/18/2018 2:52 PM

Corn: Corn futures ended the day up 2 1/2 to 2 3/4 cents through the December contract and near their daily highs. Planting delays remain mildly price-supportive for corn, but are still not a major concern to traders yet.

Soybeans: Soybean futures saw a choppy day of price action and the market settled split, with old-crop down 2 to 4 1/4 cents and new-crop fractionally to 1 1/2 cents higher. Soymeal faced pressure, while soyoil futures enjoyed gains. Soybean futures faced some pressure today as traders were disappointed that the recent flurry of unseasonable daily soybean sales announcements from USDA has come to an end.

Wheat: Winter wheat futures finished on session highs with gains of 7 3/4 to 9 cents. Spring wheat ended 3 to 5 cents higher and also high-range. Wheat futures were supported today by doubts forecast rains for the Southern Plains over the next couple days will have much meaningful benefit for the stressed HRW crop.

Cotton: Cotton futures settled with losses of 8 to 39 cents. Old-crop contracts led losses. Cotton futures struggled to find buyers today amid a lack of supportive news. A rain event forecast for dry areas of west Texas the next couple of days put mild pressure on the market.

Hogs: Lean hog futures enjoyed strong gains today and the market settled high-range. May through August futures finished $1.575 to $1.95 higher for the day, while fall and winter futures posted gains of 72 1/2 to 80 cents. 

Cattle: Live cattle futures ended the day with the June contract up 37 1/2 cents. Other contracts gained 62 1/2 to 92 1/2 cents on the day. Feeder cattle futures finished up 42 1/2 to 97 1/2 cents in the May through September contracts.

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