Eastern Cornbelt carcass price ranges and hog market notes
Eastern Cornbelt carcass prices show 0.5 to 0.9 inch backfat ranges from 78.50 to 81.84 per hundredweight with varying spreads. Illinois Direct Hogs report trading steady amid moderate demand. US 1-3 weights 300-400 lbs at 45.00-49.00, 400-500 lbs 46.00-51.00, 500-600 lbs 48.00-52.00, over 600 lbs 49.00-53.00. Boars under 300 lbs 38.00-42.00, over 300 lbs 12.00-16.00.
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Grain futures move with mixed corn soy and oats
In Chicago on Tuesday wheat and soybeans rose while corn slipped as September futures traded near support. Corn futures fell to about 2.54 a bushel, oats advanced to 1.38, soybeans climbed to 8.19, and wheat for September gained on the CTBOT sessions.
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Tech stocks drop as oil climbs and forecasts disappoint
Traders pushed the Nasdaq lower after Intel and Conexant warned on earnings. Oil rose to 39.65 a barrel, stoking inflation fears as investors awaited more data. Analyst comments cited uncertainty about the economy and stock drivers while Kerry Edwards politics drew attention. Intel fell after Lehman cut its earnings outlook amid weak back to school PC demand.
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