After the Bell | December 20, 2022
Soybeans: March soybeans rose 16 1/4 cents to $14.79 3/4. March soymeal gained $3.20 to $449.30. March soyoil rose 140 points to 64.81 cents, the contract’s highest close since Dec. 1. Soybeans rose near last week’s highs behind technical strength, gains in soymeal and optimism over demand. Signs of improvement rainfall prospects in dry areas of South America limited buying interest.
Cotton: March cotton gained 376 points to 87.84 cents, the highest closing price since Sept. 23. Cotton rallied as firming technicals and dollar weakness encouraged short covering and bargain buying.
Cattle: February live cattle fell 47.5 cents to $155.575. January feeder futures leapt $1.525 to $183.625. Live cattle futures extended a choppy, sideways pattern, supported by longer-term optimism that tight animals supplies will keep cash prices elevated.
Hogs: February lean hog futures fell $1.45 to $84.25. Hogs faded under further indications the cash market has yet to find a seasonal bottom following an extended slide. The CME lean hog index fell 71 cents to $80.84, the lowest level since Jan. 27. Wednesday’s index is expected to rise 2 cents.