Grain and soybean markets rebounded Thursday morning
Hog futures were mixed Thursday morning. Rising supplies seemingly undermined the market. Although the cash hog and wholesale pork markets moved higher, traders seem to becoming increasingly worried about the potential for surging supplies during the days ahead. Rising weights certainly seem to be pointing in that direction. August hog futures were down 1.05 cents at 128.55 cents/pound and December was down 0.975 cents to 104.475 cents.
The cotton futures proved vulnerable overnight. Talk that USDA is widely expected to boost 14/15 US cotton supply prospects probably undercut the cotton market. In addition, the concurrent US currency strength very likely had a negative impact. Additional pressure stemmed from the latest declines in most equity index values. December cotton lost 0.17 cent to 69.5 cents per pound. March cotton skidded 0.26 cents at 71.37 cents/lb.
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