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The U.S. unemployment rate dropped from 5.4% to 5.2% in March. However, non-farm payrolls were up 110,000, less than expected and the smallest increase in eight months. After a volatile day, the June 10 year T-notes ended up 17/64ths at 109.17/32nds.
The U.S. dollar was stronger against most currencies, even after the weak U.S. job numbers.
June gold ended down $2.80 at $428.30 after a South African court ruled yesterday that all striking mine workers must go back to work.
The ISM index of U.S. manufacturing slipped from 55.3 to 55.2 in March, as expected. Also, the ISM index of U.S. services was released two days ahead of schedule. That index increased from 59.8 to 63.1 in March. December eurodollars closed up .07 at 95.835.
U.S. construction spending totalled $1.047 trillion in February, a new record high and up .4% on the month.
The University of Michigan's consumer confidence index fell from 94.1 to 92.6 in March.
There appears to be no stopping crude oil prices, especially after yesterday's prediction of $100+ per barrel by the Goldman Sachs Group. June crude oil jumped up $1.87 to close at $58.29.
June unleaded gasoline closed up 7.10 cents at a new contract high of $1.7461 after news of a refinery problem in Venezuela.
Dry conditions have stressed soybean yields in southern Brazil there and now there is concern that too much rain farther north, in Mato Grosso, is said to be hurting the crop quality there. Fortunately for them, 51% of Brazil's soybean crop has already been harvested. July soybeans closed down 12.5 cents at $6.235.
July wheat was down 8 cents at $3.33 with no fresh export news to support prices.
Cuba has decided to allow beef from Canada back into their country. June cattle were up .17 at 85.42. August feeders were up .95 to a new contract high of 108.20.
Demand for beef and pork continue to be strong. The USDA estimated this week's beef production at 427.0 million pounds, up 2.4% from a year ago. Pork production was estimated at 398.2 million pounds, up 3.2% from a year ago. June hogs closed up 1.52 at 80.80.
Dow Jones Newswires said that crop forecasters in the Ivory Coast are expecting the cocoa mid-crop to total 250,000 tons, down from roughly 300,000 tons last year. July cocoa started the day higher, but closed down $42 at $1,591, said to be pressured by today's stronger U.S. dollar.
The Florida Citrus Processors said that there were 139.2 million gallons of frozen concentrated orange juice in inventory as of March 26th, down 11% from a year ago. July orange juice was up .45 at 101.25.
A confidence index of Japanese manufacturers dropped from 22 in December to 14 in March, weaker than expected. The June yen was down .0035 at .9348.