Fridays Futures News Updates:
U.S. Economy
The U.S. Labor Department said that the unemployment rate stayed at 9.7% in February while non-farm payrolls were down 36,000, a smaller drop than expected. The June U.S. T-bonds dropped 1.04/32nds to 116.22/32nds.
The U.S. Labor Department also said that the drop in payrolls was revised in January from -20,000 to -26,000 and in December from -150,000 to -109,000.
Grains and Cotton
Overall, grains were steady to lower with the USDA's next monthly estimates due out on Wednesday. May corn finished down 7.5 cents at $3.755, the lowest close in over a week.
Livestock
After the close, the USDA estimated this week's beef production at 476.2 million pounds, down slightly from a year ago. Pork production was estimated at 438.5 million pounds, down 3.5% from a year ago. June hogs were down .12 at 81.87.
Energies and Metals
Today's jobs report is being seen as a positive indication that the economy is continuing to recover. May crude oil is trading higher. May copper closed up 4.20 cents at $3.4175.
Currencies
Japan had its own positive employment report just two days ago, but the March yen fell .0156 to 1.1068, the lowest close of the week, with concerns that a U.S. recovery favors the dollar.
There seems to be a growing consensus that Europe will be able to manage Greece's debt problems. The March euro closed up .0046 at $1.3623.
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