Weekly USA commodities&pork prices for pig producers.
• US lean hog futures are higher.
• Corn and wheat futures are slightly higher, while soy complex futures are mostly lower.
• The value of the US dollar against the euro is lower.
• Crude oil futures are slightly higher.
• New York gold futures are slightly higher.
• US stock indexes are modestly higher.
• European stock indexes are lower.
• Asian stock indexes close mostly lower.
•US lean hog futures close lower. Lean hog futures are pressured by a glut of fresh pork supplies. December lean hog futures decline .300c, closing at 85.600c a lb.
• The cutout value for a pork carcass weighing 205 lbs. advances .89 cents, closing at 92.01c a lb. Cutout values are sharply higher for loins, picnics, hams and bellies and higher for butts. Cutout values are lower for ribs.
• Corn, wheat and soybean oil futures decline while soybean meal advanced and soybeans end mostly higher. Corn is pressured after news that China rejected a cargo of the grain because unapproved bioengineered corn was discovered aboard. Wheat was a follower. Soybeans bounce higher after steep losses. Chicago December wheat falls 2¼c, closing at $6.42¼ a bushel, Kansas City fell 4¼c, closing at $6.94 a bushel, and Minneapolis falls 1½c, closing at $6.95¼ a bushel. December corn falls 10c, closing at $4.12 a bushel. January soybeans gain 7c, closing at $12.87½ a bushel. December soybean meal gain $5.30, closing at $415.80 a ton. December soybean oil falls 0.36, closing at 40.11c a lb.
• Major US stock indexes scale record highs on optimism about Federal Reserve policy but falls back to end mixed on a 1.26% slide in Apple, Inc. shares. The Dow Jones Industrial Average rises above 16,000 before paring gains, closing up more than 14 points at 15,976.02. The Standard & Poor’s 500 Index touch 1,800 before closing down more than 6 points at 1,791.53. The Nasdaq Composite Index falls almost 37 points, closing at 3,949.07.
• The value of the US dollar against the euro is lower.
• Crude oil futures falls on the prospect for talks between Iran and Western nations that could lead to an increase in Iranian oil exports. The December contract falls 81c, closing at $93.03 a barrel.
• Gold futures falls as interest in the precious metal waned in relation to equities, which touched record highs. December gold futures fall $15.10, closing at $1,272.30 an oz.