The latest Market Talks covering Commodities. Published exclusively on Dow Jones Newswires throughout the day.
1536 ET - Live cattle futures finished trading up 0.5% to $2.42625 a pound Thursday, after the USDA's WASDE report showed a lower beef production outlook for 2026 that rises in 2027. Today makes it the fifth trading session out of the past six that cattle futures settled higher, according to data from FactSet. Cattle futures have gained roughly 2% during this streak. Most-active lean hog futures closed up 0.4% to 95.8 cents a pound. (kirk.maltais@wsj.com)
1456 ET - U.S. natural gas futures settle at their lowest level since late May as weather forecasts shed some heat and a weekly inventory report comes in above expectations. The 108 Bcf net injection into storage reinforced ideas that the market has enough of a supply cushion to absorb early-summer demand, Gelber & Associates says in a note. Power-sector demand is the main source of support near term, "but the latest forecast removes some demand from the two-week look as heat fades beyond the front end of the period." Nymex natural gas settles down 3.1% at $3.087/mmBtu. (anthony.harrup@wsj.com)
1454 ET - Oil futures end lower in a choppy session as President Trump threatened, then canceled, further strikes against Iran, raising hopes for a prompt end to the conflict. Trump says discussions and final points have been approved at the highest level of the Iranian leadership and with all parties involved, but that the U.S. naval blockade will remain in force until a deal is finalized. "The market is performing as if it thinks a deal will get done sooner rather than later," Mizuho's Robert Yawger says in a note. "Crude oil has been trading in a downward sloping channel since the middle of May." WTI settles down 2.6% at $87.71 a barrel and Brent falls 2.9% to $90.38. (anthony.harrup@wsj.com)
1349 ET - Crude futures are falling after President Trump says he has called off tonight's planned military strikes against Iran. Discussions with Iran "have been brought to the highest level of Iranian leadership and approved," Trump posts on Truth Social. He says discussions and final points have been approved by all parties involved but that the U.S. naval blockade will remain in force until the transaction is finalized. WTI is down 3.6% at $86.75 a barrel and Brent is off 3.7% at $89.65. (anthony.harrup@wsj.com)
1318 ET - The WASDE report included a note from the World Agricultural Outlook Board indicating that guidance for red meat and poultry production reflect cases of New World Screwworm known as of today, along with the measures being undertaken in an attempt to mitigate further spread of the parasite. The USDA lowered its outlook for beef production and bovine slaughter in 2026, adding that heavier weight animals will partially offset the lower slaughter rate. For 2027, the USDA raised its projection of beef production, citing increased feedlot placements. Live cattle futures on the CME are up 0.5% to nearly $2.43 a pound. Lean hogs are down 0.1%, with the USDA projecting higher pork production in 2026 and 2027. (kirk.maltais@wsj.com)
1249 ET - Neither the June WASDE report or threats of intensified attacks on Iran by President Trump are doing much to spur grain futures higher. "No one is shocked by any of the numbers," says Charlie Sernatinger of Marex in a note following the WASDE's publication. While crude oil is up 1.5%, it didn't get much of a boost following Trump's Truth Social post stating that Iran will be "hit very hard" tonight. "Even statements by Trump that we will attack Iran again tonight are not budging the energies," Sernatinger says. Grains have been following crude oil's movements until recently, due to the usage of U.S. corn and soybeans in the production of renewable fuels. (kirk.maltais@wsj.com)
1232 ET - The USDA's Animal and Plant Inspection Service now reports seven total cases of New World screwworm in animals. On its online dashboard, APHIS lists six of the seven reported cases in Texas -- going as far north as Gillespie County, which is outside of Austin. Agriculture Secretary Brooke Rollins is scheduled to give a press conference in Zavala County this afternoon, in which the USDA says that a sterile fly dispersal will be demonstrated. Mixing sterilized flies into the wild population is the chief method advocated by the USDA for controlling the parasite outbreak. (kirk.maltais@wsj.com)
1227 ET - U.S. natural gas futures give back yesterday's gains as the EIA reports an above-estimate 108 billion cubic foot increase in inventories for last week. The storage build was the largest so far of the injection season, and reflects a looser balance than most analysts expected, Andy Huenefeld of Pinebrook Energy Advisors says in a note. While next week's report will likely show a smaller build, "with the current heat wave expected to be relatively short-lived and today's injection coming in stronger than anticipated, the market is having trouble sustaining any bullish sentiment." Nymex natural gas is down 2.6% at $3.103/mmBtu.(anthony.harrup@wsj.com)
1212 ET - The U.S. faces a tighter gasoline market as demand picks up over the summer with refiners giving priority to jet fuel and diesel production, analysts at UBS say in a note. Data for 2023-2025 show gasoline demand 400,000-500,000 barrels a day higher in the second and third quarters than in the first quarter. "As demand ramps into the summer driving season, we see increasing risk of supply tightness," they say, adding that it could be challenging to source the additional 500,000 or so barrels a day of gasoline required to meet seasonal demand, "raising the likelihood of localized shortfalls." (anthony.harrup@wsj.com)
1113 ET - Crude futures trade sideways as the market weighs President Trump's threat of stepped up attacks on Iranian targets and assertion that the U.S. will take control of Kharg Island, Iran's main oil export hub, in the not too distant future. "The escalated military action by the U.S. is likely to either tighten supplies further or open the strait quicker," Dennis Kissler of BOK Financial says in reference to the Strait of Hormuz. "While global inventories have been drawing down, the market still seems focused on lessening demand and gradual supply being added." WTI is up 0.3% at $90.37 a barrel and Brent is down 0.3% at $92.79. (anthony.harrup@wsj.com)
1100 ET - U.S. natural gas futures are lower as a weekly inventory build lands above expectations. Gas in underground storage increased by 108 billion cubic feet last week to 2,686 Bcf, increasing the surplus over the five-year average to 151 Bcf from 138 Bcf the week before, the EIA reports. The storage injection was above the 100 Bcf estimate in a Wall Street Journal survey of analysts, and larger than the 95 Bcf average for the week. Nymex natural gas is down 3% at $3.091/mmBtu.(anthony.harrup@wsj.com)
1001 ET - Most-active livestock futures on the CME are slightly higher ahead of the USDA's next monthly WASDE report, which is due out at noon Eastern Time. The report will contain the latest projections for beef and pork supplies in 2026 and 2027, and will come as markets brace for volatility around a 16-year extension of the USMCA -- amid comments from President Trump stating that he's "not looking to renew" the deal. Mexico and Canada are top markets for U.S. meat exports. Most-active live cattle futures rise 0.1%, while lean hogs are up 0.2%. (kirk.maltais@wsj.com)
(END) Dow Jones Newswires
June 11, 2026 16:15 ET (20:15 GMT)
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