And after trending lower last week, the Soybean market moved into positive territory. For the week, nearby bean prices gained more than 21 cents. The March contract on meal rose 7 dollars.
Cotton prices, which have been enjoying a prolonged rally, gave up ground. For the week, the March futures contract lost just over one dollar.
USDA latest numbers on the U.S. cattle herd brought out the bears in the livestock markets. The December cattle contract was down $1.87. Nearby feeders lost 85 cents and the February lean hog contract declined $3.00. In the financials, Comex gold advanced 6.20 per ounce. Nearby crude oil prices declined 59 cents per barrel. The Euro gained 38 basis points against the dollar. And the CRB Index fell one point to close at 344.50.
Here now to lend us their insight on these and other market trends is our market analysts, Alan Brugler. Welcome back.