Corn: March corn futures plunged 8 1/4 cents to $4.82, marking a 4 1/2 cent loss on the week. Corn futures saw heavy selling pressure overnight before rebounding during the day-time session, though still closed solidly lower on the day.
Soybeans: March soybeans fell 2 cents to $10.42, finishing the week down 13 3/4 cents, while March soymeal fell $3.60 to $301.10, marking a $3.80 weekly loss. March soyoil rallied 113 points to 46.11 cents and rose 89 points on the week. Soybeans rebounded somewhat remarkably, with support from the 20-day moving average and rallying soyoil lifting futures from the overnight low.
Wheat: March SRW futures closed 7 cents lower to $5.59 1/2, though still gained 15 1/2 cents on the week. March HRW futures fell 9 cents to $5.79 1/4, but still rose 19 3/4 cents on the week. March HRS futures closed down 4 3/4 cent Wheat futures saw heavy selling to end the week but still posted a solid weekly gain.
Cotton: March cotton slipped 39 points to 65.88 cents, marking a 171-point weekly loss. Cotton futures have failed to catch a break over the past year, amid waning export demand and comfortable global supplies, though strength in the U.S. dollar since mid-September has certainly compounded bearishness towards the natural fiber.
Cattle: Bears proved unable to sustain downward pressure on cattle and feeder futures Friday. Nearby February live cattle gained 12.5 cents to $204.60, while most-active April rose 80 cents to $202.30. That latter marked a weekly decline of 72.5 cents. Nearby March feeder futures surged $2.525 to $275.725, which marked a weekly slide of 85 cents. It looks as if cash cattle prices will again set a fresh all-time high this week, since Thursday’s cash trading was relatively active and averaged $209.46, compared to last week’s full average at $209.19.
Hogs: Concerns about Mexican demand likely undercut hog futures Friday. Expiring February futures slid 20 cents to $84.175, while most-active April futures fell $1.575 to $90.35. The latter marked a weekly rise of $2.15. The cash hog and wholesale pork markets sustained their seasonal advance this week, with the CME confirming Tuesday’s hog index quote at $82.59 today, which marked a 48-cent gain.