Washington | Reuters — Four of the biggest meat-processing companies, using their market power in the highly consolidated U.S. market to drive up meat prices and underpay farmers, have tripled their own net profit margins since the pandemic started, White House economics advisers said. Financial statements of the meat-processing companies — which control 55 to […] Read more
U.S. packer profit margins jumped 300 per cent during pandemic, economists say
Increased costs don't explain higher profits, White House advisors say
U.S. livestock: Hog futures extend rebound off 10-month low
Bargain buying supports cattle
Chicago | Reuters — Chicago Mercantile Exchange lean hog futures rallied on Friday, extending gains made a day earlier when the market rebounded from a 10-month low. The gains accelerated as prices surged through key resistance points, and the market closed near session highs. CME February lean hogs settled up 3.2 cents at 81.025 cents/lb. […] Read more
U.S. livestock: Hog futures climb with pork prices
Hog slaughter seen accelerating; beef export picture drags on cattle
Chicago | Reuters — Chicago Mercantile Exchange lean hog futures rebounded on Thursday from four sessions of losses, amid an accelerating slaughter pace and indications that pork prices may be near a bottom following a prolonged slide, traders said. The daily hog slaughter was slower-than-normal earlier this week, which some analysts said may be a […] Read more
U.S. livestock: Cattle futures fall on weak cash markets
Hog futures down for fourth day
Chicago | Reuters — Chicago Mercantile Exchange live cattle futures fell on Wednesday, pressured by technical selling and signs of weakness in the cash markets, traders said. Hog futures were lower for the fourth day in a row, with the front-month contract sinking to its lowest in 10 months on weak export prospects and a […] Read more
U.S. livestock: Hog and cattle futures fall
Chicago | Reuters — Chicago Mercantile Exchange hog futures fell for the third day in a row on Tuesday, hitting their lowest in more than a month. Cattle futures also were weaker, with weak profit margins weighing on the market. CME February lean hogs settled 1.675 cents lower at 76.55 cents/lb. (all figures US$). The […] Read more
U.S. livestock: Hog futures fall on concerns over supply glut
February live cattle up slightly
Chicago | Reuters — Chicago Mercantile Exchange hog futures plunged four per cent on Monday, hitting their lowest level in nearly a month, as robust supplies threatened profits even as pork prices edged off their recent lows, traders said. Pork processors earned $22.90 per hog, down from $46.25 per hog on Friday and $43.20 a […] Read more
Ambassador to China to leave post after helping free detainees
Canola, 5G access, other issues remain
Ottawa | Reuters –– Canada’s ambassador to China said on Monday he would soon leave his post after a two-year assignment where he helped secure the freedom of two Canadian detainees despite icy relations between Beijing and Ottawa. Dominic Barton’s departure, which will take effect Dec. 31, leaves a crucial diplomatic post open at a […] Read more
U.S. livestock: CME cattle, hogs end down on profit-taking
Futures decline despite higher beef prices
Chicago | Reuters — Chicago Mercantile Exchange live cattle, feeder cattle and hog futures ended lower on Friday as profit-taking hit the livestock markets ahead of the weekend, traders said. Live cattle futures consolidated after setting contract highs this week, traders said. Most-active CME February live cattle finished 0.625 cent lower at 138.95 cents/lb. (all […] Read more
U.S. livestock: CME live cattle, hogs up with export demand
Chicago | Reuters — Chicago Mercantile Exchange live cattle and lean hog futures rose again on Thursday, as fresh export numbers underscored strong demand for meat. Meanwhile prices on feeder cattle futures were mixed, as trades in the cash market prices jumped, traders said. Cash cattle had traded earlier in the week at $137-$138/cwt in […] Read more
U.S. livestock: CME cattle, hog futures finish higher
Investors' COVID concerns eased
Chicago | Reuters — Chicago Mercantile Exchange livestock futures finished higher on Wednesday as the markets recovered after dropping the previous session to their lowest prices in more than a week. Prices rose as investors’ concerns eased about the Omicron coronavirus variant, which rattled commodity and financial markets on Tuesday, traders said. Chicago Board of […] Read more