Chicago Mercantile Exchange (CME) hog futures fell on Wednesday, pressured by uncertainty regarding near-term cash hog prices, said traders and analysts. U.S. Department of Agriculture data Wednesday showed the average hog price in the most-watched Iowa/Minnesota market at $73.71. It was $1.09 lower after being up 83 cents on Tuesday (all figures US$). "There is […] Read more
U.S. hog futures fall, uncertain cash prices cited
Beef prices boost U.S. live cattle futures
Chicago Mercantile Exchange (CME) live cattle futures moved higher on Tuesday, lifted by short-covering after wholesale beef prices resumed their uptrend, said traders and analysts. U.S. Department of Agriculture data late on Tuesday showed wholesale choice beef at $197.28 per hundredweight (cwt), up 40 cents from Monday (all figures US$). Select cuts gained 10 cents […] Read more
U.S. hogs turn lower amid premiums to cash
Chicago Mercantile Exchange (CME) hogs turned lower on Monday as the premium of futures to cash prices discouraged buyers, said traders and analysts. CME’s lean hog index, a measure of cash hog values, was at 78.13 cents per pound. April hogs settled down 0.875 cent at 81.15 cents/lb., and June hogs fell 0.85 cent to […] Read more
U.S. live cattle futures drop as funds sell
Chicago Mercantile Exchange (CME) live cattle futures on Friday settled lower as fund liquidation dragged contracts down 1.8 per cent for the week, said traders and analysts. They said uncertainty about cash cattle prices next week pressured CME live cattle futures. The potential furlough of meat inspectors, which could shut down some packing plants, kept […] Read more
U.S. hogs mark biggest daily gain in three months
Chicago Mercantile Exchange lean hog futures on Thursday posted their biggest daily percentage rise in three months as higher cash prices triggered short-covering, said traders and analysts. CME lean hogs rose 3.23 per cent on Thursday, their biggest one-day increase since Dec. 17, 2012. Advances pushed CME April and June hogs through their respective 10-day […] Read more
U.S. live cattle slump as funds sell, but off lows
Chicago Mercantile Exchange (CME) live cattle futures moved lower on Wednesday as funds liquidated long positions, analsyts and traders said. CME April and June live cattle fell below their respective 10-day moving average of 129.22 and 124.58 cents, triggering sell stops (all figures US$). April closed at 128.8 cents per pound, down 0.825 cent, and […] Read more
U.S. live cattle futures sag; sequester weighs
Chicago Mercantile Exchange (CME) live cattle futures turned lower on Tuesday as the threat of meat inspector furloughs, which could shut beef plants, contributed to profit taking, analysts and traders said. The U.S. Department of Agriculture is expected to send furlough notices to meat inspectors this week, but it will be several months before they […] Read more
U.S. agribusiness frets over sequestration
U.S. farmers and agribusiness companies are worried that across-the-board federal budget cuts will snarl the supply channels for everything from milk and broiler chickens to grain shipments, but many are hopeful that the Obama administration and Republican opponents will find a compromise before major disruptions hit the food system. Most immediate concerns center on federal […] Read more
Surging beef prices boost U.S. live cattle futures
Chicago Mercantile Exchange (CME) live cattle futures rose on Monday after recent wintry weather in the U.S. Plains trimmed cattle supplies and pushed up wholesale beef prices, traders and analysts said. Investors also said another storm developing in the central and western Midwest could create more problems at feedyards where cattle are fattened for slaughter.Snow […] Read more
Smithfield says it will meet China’s deadline on pork
Reading Time: < 1 minute Reuters / Smithfield Foods Inc., the world’s largest pork processor, said Feb. 21 it will be able to supply pork that is free of the feed additive ractopamine in time to meet a March 1 deadline by China. China, the world’s largest pork consumer and the third-largest market for U.S. pork with sales of over […] Read more
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