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Market Analysis: Oct 12, 2001

posted on October 12, 2001

The grain markets finished the week on a negative note following the release of the bearish USDA October crop estimate. For the week, wheat prices were three cents stronger. Corn futures were five to six cents lower. Soybean futures were down more than 16-cents. Soybean meal, however, gained $1.20 per ton. Cotton futures were down $1.88.

In livestock, fed cattle futures were $2.32 lower. Feeder cattle were down 33-cents. The lean hog contract closed $3.18 lower.

In the financials, COMEX gold closed the week $6.50 lower per ounce. The Euro finished 81-basis points lower against the dollar. And, the CRB index finished the week more than four points lower to close at 187.50.

Market Analysis: Oct 12, 2001

Join us again next week when we examine the resurrection of an old craft and what it could mean to the Rural American economy.

Tags: agriculture commodity prices markets news USDA