Grain futures mixed on Chicago Board of Trade
On a narrow close session in Chicago prices barely moved with July wheat down to 4.03 a bushel and July oats at 1.72. July corn inched up to 3.11 a bushel while July soybeans rose 31 cents to 10.31 a bushel in a cautious trading day.
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Eastern Cornbelt carcass prices rise amid steady demand
Eastern Cornbelt prices show higher carcass values across weight lines with 0.5 inch to 0.9 inch bf ranges from 72.00 to 84.33. Illinois direct hog purchases total 12,677 with widespread 1 to 3 hundredweight classes at 38.00 to 44.00 and boar prices from 9.00 to 37.00 depending on size.
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Jobs surge in April as unemployment dips to 5.6 percent
U S payrolls rose by about 300000 in April, the unemployment rate fell from 5.7 to 5.6 percent, marking continued eight month hiring growth. Forecasters predict a smaller federal deficit this year, while Bush touts tax cuts amid international fallout from Iraq prisoner abuse. Professional and business services led hiring with a 123000 gain.
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Dow tumbles on rate fears after strong April jobs data
Investors flee stocks as April payrolls show 288,000 new jobs, fueling bets the Fed will raise rates in June. Dow Jones slides over 120 points with the S&P 500 and Nasdaq also weaker. March jobs were revised up to 337,000, manufacturing payrolls rise, unemployment rate dips from 5.7 percent.
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March
Price of oil hits 40 a barrel in Middle East fears
Washington AP reports oil rose to $40 a barrel as traders fear attacks on petroleum facilities in the Middle East. With tight supplies and strong demand, analysts say OPEC could need to raise output to ease the impact on the world economy.
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