Chicago | Reuters — Chicago Mercantile Exchange (CME) lean hog futures soared on Monday, with the most-active December contract rising its daily limit after a quarterly U.S. Department of Agriculture report showed a smaller-than-expected U.S. hog herd. CME October lean hogs settled up 2.975 cents at 90.25 cents/lb., and the December contract rose its daily […] Read more
U.S. livestock: CME hogs surge on bullish USDA data
Chicago cattle futures sag
U.S. livestock: CME hogs rise, live cattle slip ahead of USDA reports
Cattle on feed top trade estimates
Chicago | Reuters — Chicago Mercantile Exchange (CME) lean hog futures climbed on Friday, largely supported by positioning ahead of a key hog inventory report issued by the U.S. Department of Agriculture (USDA) after the close, analysts said. Higher cash pork prices and the still-wide discount of futures to cash hog prices were also supportive. […] Read more
U.S. livestock: CME lean hogs firm on China’s herd restrictions
Cattle mixed to lower ahead of report
Chicago | Reuters — Chicago Mercantile Exchange (CME) lean hog futures firmed on Thursday, after China lowered its sow herd targets in an effort to ensure supply and stabilize prices. China’s ministry of agriculture and rural affairs said the target for its sow herd was now around 41 million head for 2021-2025 and should be […] Read more
Britain tells its food industry to prepare for CO2 price shock
U.K. pays fertilizer maker CF Industries to reopen plants
London | Reuters — Britain warned its food producers on Wednesday to prepare for a 400 per cent rise in carbon dioxide prices after extending emergency state support to avert a shortage of poultry and meat triggered by soaring costs of wholesale natural gas. Natural gas prices have spiked this year as economies reopened from […] Read more
Cattle producers struggle but beef suppliers are doing just fine
Wholesale beef prices at record levels but those strong prices haven’t made their way to producers
Reading Time: 3 minutes The good news is that beef prices are extremely strong, even in the face of record beef production in North America. “We have record-high wholesale beef prices right now,” CANFAX manager and senior analyst Brian Perillat said at the recent (and virtual) Canadian Beef Industry Conference. Unfortunately, cattle prices are just not responding. “That’s been […] Read more
U.S. livestock: CME live cattle follow packer demand down
Lean hog futures also lower
Chicago | Reuters — Chicago Mercantile Exchange live cattle futures fell on Tuesday, pressured by weak cash cattle trade as packer demand remains light, analysts said. “The lack of bids is daunting,” said Joe Kooima, commodity broker at Kooima Kooima Varilek Trading Inc. Kooima noted packers have enough cattle purchased on negotiated contracts to meet […] Read more
U.S. livestock: CME live cattle end mixed, hogs lower
Futures under pressure as equity markets slump
Chicago | Reuters — Chicago Mercantile Exchange live cattle futures ended mixed on Monday as late-session bargain buying only partly offset pressure from adequate cattle supplies and global economic concerns that threatened to blunt demand for beef. “The cattle market can’t seem to catch a break. Boxed beef has been trending down and there are […] Read more
U.S. livestock: CME hogs extend gains in recovery from slide
Cattle futures follow boxed beef lower
Chicago | Reuters — Chicago Mercantile Exchange lean hog futures on Friday extended a rebound from a selloff that dragged the market to its lowest prices since February this week, while cattle futures sagged. The hog market was due for a correction to the upside after the most-active December contract fell 13.5 per cent from […] Read more
Olymel to close former F. Menard bacon plant
Pork further-processing plant at Henryville to shut in November
Meat packer Olymel plans to shut a pork further-processing plant it operates in Quebec’s Monteregie by mid-November and pick up the work at its other sites. Olymel, the meats arm of Sollio Co-operative, said Wednesday it will permanently close the bacon plant at Henryville, about 60 km southeast of Montreal, effective Nov. 12. The closure […] Read more
U.S. livestock: CME lean hog futures rise from February low
December live cattle close lower
Chicago | Reuters — Chicago Mercantile Exchange lean hog futures climbed on Thursday, as the market recovered from a decline to its lowest prices since February. Technical buying helped support prices, while concerns about waning U.S. pork exports continue to hang over the market, analysts said. The U.S. Department of Agriculture reported 2021 export sales […] Read more