Chicago Mercantile Exchange (CME) lean hog futures turned higher on Thursday on a spate of bargain-buying, after the most-active August contract LHQ24 set a new low during the session, traders said.
Chicago Board of Trade soybean futures fell to a 2020 low on Wednesday, while corn hovered near a four-year low as favorable U.S. crop conditions kept a lid on prices.
Soybean and corn futures at the Chicago Board of Trade fell to fresh contract lows in early July, as relatively favourable growing conditions and bearish technical signals weighed on values.
CME live and feeder cattle futures turned lower on Tuesday as cutout values fell and consumer demand waned following the end of major steak-eating holidays, traders said.
Chicago wheat and corn futures ticked higher on Tuesday after sharp declines on Monday, while most-active soybean futures closed at their lowest point in nearly four years, as expectations of ample supplies from northern hemisphere harvests hung over the market.
Chicago Board of Trade soybeans and corn futures on Monday dropped to around the lowest prices in four years, as traders expected a positive picture of U.S. crop progress from the U.S. Department of Agriculture (USDA) in a report due later in the day.
Chicago Mercantile Exchange cattle futures turned lower on Monday, shedding a post-holiday rally on demand concerns and news that beef-loving Argentines are cutting back on buying steaks as the country's economy slumps.
Chicago Board of Trade wheat futures spiked on Friday amid an uptick in demand for U.S. wheat due to a weaker dollar and the availability of desirable new-crop wheat, traders said.
Chicago Mercantile Exchange live cattle futures closed higher on Friday as consumer demand for beef remains high and as U.S. cattle herds continue to undergo a period of contraction, traders said.