WEEKLY USA COMMODITIES&PORK REPORT

Weekly USA commodities&pork prices for pig producers.

• US lean hog futures were lower Tuesday.

• Corn and wheat futures were higher, while soy complex futures were mixed.

• The value of the US dollar against the euro was higher.

• Crude oil futures were sharply lower.

• New York gold futures were lower.

• US stock indexes were higher.

• European stock indexes were higher.

• Asian stock indexes closed higher Tuesday

•Firm demand for pork and tightening supplies supported lean hog futures. October lean hog futures eased .025c, closing at 90.875c a lb. The cutout value for a pork carcass weighing 205 lbs. gained .32c Monday to close at 95.20c a lb.

•Primal cutout values were sharply higher for butts, ribs and bellies, and higher for loins. Cutout values were sharply lower for picnics and lower for hams.

• Wheat and corn futures were lower with soy complex futures mostly lower Monday. Overall, profit-taking pressured the markets ahead of Thursday’s USDA crop production and supply-and-demand reports. Soybeans were lower after concerns about hot, dry weather drove prices to six-week highs last week. Corn futures were lower on pressure from soybeans and weakness in cash markets.

•Wheat futures were lower on pressure from corn. Chicago December wheat fell 6½c, closing at $6.41¼ a bushel, Kansas City December fell 7c, closing at $6.88½ a bushel, and Minneapolis December fell 10c, closing at $7.02¾ a bu. December corn futures fell 4¾c, closing at $4.63½ a bu. November soybeans fell 11¼c, closing at $13.56½ a bu. October soybean meal fell $4.10, closing at $430.60 a ton. October soybean oil fell 0.55c, closing at 42.88c a lb.

• Major US stock indexes were 1 percent higher Monday on reduced tensions over Syria and news of increased exports from China. Leaders from the US and Russia were suggesting getting Syria to turn over its chemical weapons. The Dow Jones Industrial Average rose almost 141 points, closing at 15,063.12. The Standard & Poor’s 500 Index rose almost 17 points, closing at 1,671.71. The Nasdaq Composite Index rose more than 46 points, closing at 3,706.18.

• The value of the US dollar against the euro was lower Monday.

• Crude oil futures were lower Monday on a potential diplomatic solution to the situation in Syria. The October contract fell $1.01, closing at $109.52 a barrel.

• Gold futures closed nearly flat Monday on lack of clear direction on how the government will respond to Syria. The October contract rose 20c, closing at $1,386.40 an oz.