Chicago | Reuters — Chicago Mercantile Exchange live cattle futures closed higher Wednesday on short-covering after a six-session decline and expectations of firming cash cattle prices, traders said. However, the rally was capped by falling wholesale beef prices, with the U.S. grilling season poised to wind down after Monday’s Labour Day holiday. CME October live […] Read more
U.S. livestock: CME live cattle end up off six-session skid
Hogs up but still rangebound
Health Canada warns people not to take livestock dewormers
No evidence that drug is effective against COVID-19
“Concerning reports” of people in Canada seeking out veterinary-grade dewormers for personal use have led Health Canada to formally advise against doing so. News reports in Western Canada in the past week have described increased demand from non-farming consumers for veterinary-grade ivermectin, whether at livestock supply retailers or online. While ivermectin is an antiparasitic drug […] Read more
U.S. livestock: CME live cattle fall to lowest in three weeks
Hogs down off Monday's climb
Chicago | Reuters — Chicago Mercantile Exchange live cattle futures dropped to their lowest prices in more than three weeks on Tuesday as boxed beef prices continued to weaken amid expectations for reduced demand, analysts said. Lean hog futures also declined as traders adjusted positions on the last day of the month and ahead of […] Read more
Argentina extends beef export cap, stoking farm tensions
Move seen as 'giving markets to other countries'
Buenos Aires | Reuters — Argentina extended beef export restrictions until the end of October on Tuesday, stoking tensions with the powerful farm sector as the government seeks to bolster domestic meat supply to help contain rising food prices. The move comes months before key mid-term elections, with centre-left President Alberto Fernandez keen to avoid […] Read more
Klassen: Stronger live cattle futures lift yearling market
Recent rains rejuvenate Prairie pastures
Compared to last week, western Canadian yearling prices were quoted $3 to as much as $6 higher; calf markets once again traded $3-$5 on either side of unchanged depending on the region. Unbridled buying interest was noted on larger groups of high-quality yearlings. Despite the grass conditions this summer, cattle characteristics are rated above average […] Read more
U.S. livestock: CME live cattle follow boxed beef lower
Feeder cattle mostly firmer, hogs lower
Chicago | Reuters — Chicago Mercantile Exchange live cattle futures sagged on Monday as beef prices fell and brokers worried that U.S. demand for steaks and hamburgers will decline after the upcoming Labour Day holiday weekend. Beef prices have softened after reaching their highest price since May 2020 last week as retailers stocked up for […] Read more
U.S. livestock: CME lean hogs rise, narrowing discount to cash market
Technical selling drags on live cattle
Chicago | Reuters — Chicago Mercantile Exchange lean hog futures firmed on Friday, led by the nearby October contract, in a technical and bargain-buying rally that narrowed the market’s sizeable discount to the exchange’s lean hog index, traders said. Actively traded October futures scaled to a 3-1/2 week peak and closed near its session high, […] Read more
U.S. livestock: CME cattle futures fall on lower cash cattle
Hogs down on supply expectations
Chicago | Reuters — Chicago Mercantile Exchange live cattle futures fell for a third day on Thursday, as the softer cash market in the southern U.S. Plains weighed on futures, traders said. “This cash just continues to struggle,” said Joe Kooima, commodity broker at Kooima Kooima Varilek Trading Inc. “We’ve just got that anchor in […] Read more
Singapore clears all Canadian beef for import
Country first to lift BSE-era restrictions under new status
Canada’s new official international status as a “negligible risk” country for bovine spongiform encephalopathy now has its first recognition from a beef-importing nation. Singapore has approved the Canadian Food Inspection Agency’s certificate for exports of all Canadian beef, including beef offal, with no restrictions on the age of the cattle from which the beef was […] Read more
U.S. livestock: CME cattle futures ease as beef prices cool
Lean hog index still at premium to futures
Chicago | Reuters — Chicago Mercantile Exchange live cattle futures eased on Wednesday, as beef prices eased ahead of the Labour Day holiday, traditionally a big beef consumption holiday, traders said. “We’re getting into that lull period ahead of the Labour Day holiday, where the retailers have already got their product purchased from the packers,” […] Read more
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