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Market Analysis: Dec 10, 2004

posted on December 10, 2004

Grain prices edged lower again this week, thanks mainly to a big slowdown in purchases by domestic end users. For the week, nearby wheat futures fell seven cents. December corn declined by nearly three cents.

Soybean prices moved higher based on a number of factors, including the impending U.S. battle with Asian rust. For the week, January beans gained more than seven cents. The nearby meal contract climbed $6.20 a ton.

The cotton market went flat and for the week dropped 11 cents.

In livestock, the December live cattle contract lost $1.80. Nearby feeders fell $1.33. And the December lean hog contract retreated $3.75.

In the financials, Comex gold plunged more than $20 an ounce. The Euro finally weakened against the dollar and for the week dropped 223 basis points. And the CRB Index plummeted more than eight points to close at 276.25.

Here now to lend us his insight on these and other market trends is one of our regular market analysts, Tomm Pfitzenmaier. Welcome back.

Market Analysis: Dec 10, 2004 Thanks, Tomm. That wraps up this edition of Market To Market. But if you'd like more information from Tomm on where these markets are headed, then be sure to check out the streaming audio section on the Market Plus page at our Market To Market Web site.

And be sure to join us again next week when we'll examine the twin passions of a retired Oregon law enforcement officer ... horses and keeping kids out of trouble.

Until then, thanks for watching. I'm Mark Pearson. Have a great week.

Tags: agriculture commodity prices markets news