Friday Market Watch

 LIVESTOCK:

It was a powerhouse week for the cattle contracts. even though by Friday's end. both the live cattle and feeder cattle contracts closed lower. The lean hog market was finally able to catch a break and see higher trade ahead of the weekend. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $2.69 with a weighted average of $115.30 on 3,968 head.

From Friday to Friday, livestock futures scored the following changes: June live cattle up $2.60, August live cattle up $2.35; August feeder cattle up $0.60, September feeder cattle down $0.25; June lean hogs down $2.40, July lean hogs down $5.27; July corn up $0.46, ad September corn up $0.32.

Friday's slaughter is estimated at 124,000 head, 2,000 head less than a week ago and 5,000 head more than a year ago. Saturday's kill is projected to be around 47,000 head. This week's slaughter is estimated at 674,000 head, 71,000 head more than a week ago and 4,000 head more than a year ago.

Boxed beef prices closed mixed: choice up $0.22 ($271.32) and select down $0.72 ($248.89) with a movement of 110 loads (63.51 loads of choice, 23.47 loads of select, 13.25 loads of trim and 9.54 loads of ground beef). Throughout the week choice cuts averaged $271.03 (up $3.82 from last week) and select cuts averaged $249.71 (up $0.41 from last week) and the week's movement of cuts, grinds and trim totaled 546 loads.

More: Friday Closing Livestock Market Update - Lean Hogs See Support Ahead of Week's Close

GRAINS:

July corn closed up 1/4 cents and December corn was up 3 3/4 cents. July soybeans closed down 23 1/2 cents and November soybeans were down 14 cents. July KC wheat closed up 8 3/4 cents, July Chicago wheat was down 1/2 cents and September Minneapolis wheat was down 1 cent. 

For the week:

July corn closed up 46 1/4 cents and December corn was up 30 1/2 cents. July soybeans ended up 47 3/4 cents and November soybeans were up 41 1/4 cents. July KC wheat closed up 41 1/2 cents, July Chicago wheat was up 30 3/4 cents and September Minneapolis wheat was up 27 3/4 cents.

DAIRY:

Friday Closing Dairy Market Update - USDA Lowers Milk Production Estimates

HAY MARKETS HERE

OUTSIDE MARKETS:

The September U.S. Dollar Index is trading up 0.96 at 104.18. TJuly crude oil declined $0.84 per barrel closing at $120.67. The DOW fell 880 points ending at 31,393 while the NASDAQ fell 414 points ending at 11,340. August gold is up $23.40 at $1,876.20, July silver is up $0.16 at $21.98 and July copper is down $0.0890. July heating oil is down $0.0387, July RBOB gasoline is down $0.0923 and July natural gas is down $0.120.