Reuters — JBS has agreed to pay US$52.5 million to settle litigation accusing meatpacking companies of conspiring to limit supply in the $63 billion-a-year U.S. beef market in order to inflate prices and boost profit. The preliminary settlement by the Brazilian company and its U.S. units with so-called direct purchasers was disclosed on Tuesday, and […] Read more
JBS reaches ‘icebreaker’ settlement of beef price-fixing claims
U.S. livestock: Cash prices, slaughter pace support CME live cattle
Chicago | Reuters — Chicago Mercantile Exchange live cattle futures rallied to fresh contract highs on Wednesday on strong cash market prices and rising slaughter rates amid seasonally tightening cattle supplies. A winter storm moving across the central U.S. on Wednesday did not noticeably impact cattle and beef production, although traders were watching for any […] Read more
U.S. livestock: CME hog, cattle futures hit contract highs
U.S. storm could drag on livestock transport
Chicago | Reuters — Chicago Mercantile Exchange lean hog futures rose more than two per cent on Tuesday, with most contract months setting life-of-contract highs on fund-driven buying and worries about a winter storm that could slow the transport of animals at a time of tight U.S. hog supplies, traders said. Benchmark CME April lean […] Read more
U.S. livestock: CME cattle end higher on rising slaughter pace
Hogs up in rangebound trade
Chicago | Reuters — Benchmark Chicago Mercantile Exchange live cattle futures hit the highest in nearly a month on Monday, supported by an improving U.S. slaughter pace and signs of a shrinking U.S. cattle herd, traders said. CME April live cattle futures settled 1.425 cents higher at 144.525 cents/lb. after reaching 144.825 cents, the contract’s […] Read more
U.S. livestock: CME cattle futures up with daily slaughter levels
Hogs up on technical buying, cash prices
Chicago | Reuters — Chicago Mercantile Exchange cattle futures firmed on Friday as daily processing levels began to rebound, a sign that COVID-related staffing woes may be easing, traders said. Meatpackers have struggled with staffing shortages due to the surge in Omicron coronavirus infections, traders said, limiting production in recent weeks. Beef processors slaughtered an […] Read more
U.S. livestock: CME lean hogs drop on profit-taking, technical selling
Faster slaughter pace drags on cattle futures
Chicago | Reuters — Chicago Mercantile Exchange lean hog futures fell on Thursday, dragged by technical selling and profit-taking following a recent rally to contract highs. Tight U.S. hog supplies had fueled the recent gains and remained a supportive factor, but the market was oversold. “We had a key reversal in April hogs yesterday and […] Read more
U.S. livestock: CME live cattle up on improved slaughter pace
Lean hogs down on profit-taking
Chicago | Reuters — Chicago Mercantile Exchange live cattle futures finished higher on Wednesday on technical buying and as rising U.S. slaughter rates eased concerns about cattle supply backups. Cattle processing rates have ramped up after pandemic-related staffing shortages at some meat plants. The U.S. Department of Agriculture (USDA) estimated Wednesday’s cattle slaughter at 118,000 […] Read more
U.S. livestock: CME lean hogs hit new contract high on slim supply
CME April live cattle up slightly
Chicago | Reuters — Chicago Mercantile Exchange lean hog futures climbed to a new contract high on Tuesday on concerns about tightening U.S. supplies, analysts said. Nearby live cattle and feeder cattle futures also strengthened. U.S. cold storage data, issued after the markets closed on Monday, was supportive for hog and cattle futures, analysts said. […] Read more
U.S. livestock: CME cattle sink to November lows
Lean hogs set contract high
Chicago | Reuters — Chicago Mercantile Exchange cattle futures tumbled on Monday as investors reduced risk and after the U.S. Department of Agriculture (USDA) last week confirmed producers placed more animals into feedlots in December, analysts said. USDA said cattle producers placed 1.96 million head in feedlots last month, up six per cent from a […] Read more
U.S. livestock: Hog futures surge to highest in over three months
U.S. cattle counts up from last year
Chicago | Reuters — Chicago Mercantile Exchange hog futures rose 1.5 per cent on Friday to hit their highest since mid-October, extending a rally on technical buying. Traders remained focused on the slaughter rate as COVID-19 disruptions have caused slowdowns at meat processors throughout the month. “The industry still isn’t functioning normally, though the processing […] Read more
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