Ag futures drop; livestock prices mostly higher

[July 07, 2009]    CHICAGO (AP) -- Agriculture futures dropped in early trading Monday on the Chicago Board of Trade.

Wheat for September delivery shed 5 cents to $5.24 a bushel, while September corn slid 7.75 cents to $3.38 a bushel and soybeans for August delivery tumbled 21 cents to $11.33 a bushel. September oats were unchanged at $2.245 a bushel.

Meanwhile, beef and pork futures traded mostly higher on the Chicago Mercantile Exchange.

August live cattle slipped 0.42 cent to 84.45 cents a pound, but August feeder cattle added 0.20 cent to 103.65 cents a pound. August lean hogs jumped 1.15 cents to 62.30 cents a pound, and August pork bellies gained 1.63 cents to 55.80 cents a pound.

[Associated Press]

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