Chicago | Reuters — Chicago Mercantile Exchange lean hog futures’ selloff last Friday carried over into Monday, led by fund liquidation and weaker cash prices, traders said. April hogs ended 1.625 cents/lb. lower at 65.65 cents, and below the 100-day moving average of 66.744 cents. May finished 1.9 cents lower at 70.325 cents, and below […] Read more
U.S. livestock: CME lean hog futures extend losses
U.S. livestock: CME lean hogs give back recent gains
Chicago | Reuters — Chicago Mercantile Exchange lean hog futures on Friday suffered their biggest one-day loss in a month, with pressure from liquidation by funds that were largely responsible for Thursday’s market rally, said traders. April hogs ended 2.075 cents/lb. lower at 67.275 cents, and May 1.725 cents lower at 72.225 cents. “Futures are […] Read more
U.S. livestock: CME lean hogs snap back from session lows
Chicago | Reuters — Chicago Mercantile Exchange lean hog futures finished higher on Thursday, after short-covering and bargain buying brought contracts from morning lows, traders said. “Hogs (futures) were simply too cheap. The price had gotten to the point where (investors) had wrung out any sort of spring seasonal rally,” said independent CME livestock futures […] Read more
Brazil beef scandal leaves fewer options for global buyers
Chicago | Reuters –– Global beef buyers will likely need to cobble together supplies from several nations if a scandal persists in Brazil’s meat sector because supply constraints and politics are already limiting trade flows, market analysts said Monday. China suspended imports of all meat products from Brazil, the world’s top beef exporter, as a […] Read more
U.S. Catholics allowed corned beef on Paddy’s Friday
Chicago | Reuters — In recent weeks, the U.S. meat industry has found itself wrestling with a culinary conundrum: Would American Roman Catholics be able to eat corned beef this St. Patrick’s Day? Traditionally in the U.S., the Feast of St. Patrick — a celebration of Irish culture, and renowned for all things green — […] Read more
U.S. livestock: CME live cattle gain for fourth straight session
Chicago | Reuters –– Chicago Mercantile Exchange live cattle on Monday rose for a fourth consecutive session, with strength from buy stops and futures’ discounts to last week’s cash prices, said traders. They said profit-taking and caution ahead of this week’s cash returns pulled contracts from session highs. Monday was the final day in which […] Read more
U.S. livestock: Fallen cash, pork prices slam CME hogs
Chicago | Reuters — Chicago Mercantile Exchange lean hog futures sank more two per cent on Friday following lower cash and wholesale pork values, said traders. They said worries about a looming supply buildup furthered hog futures losses. April hogs ended 1.525 cents/lb. lower at 66.75 cents, and May down 1.35 cents to 72.75 cents […] Read more
U.S. livestock: Supply growth worries sink CME live cattle
Chicago | Reuters –– Chicago Mercantile Exchange live cattle futures slumped on Thursday, with pressure from profit-taking partly fueled by increased supply expectations, traders said. April live cattle closed 1.425 cents/lb. lower at 116.15 cents, and June closed 1.075 cents lower at 106.725 cents (all figures US$). “I’m surprised at the (futures) weakness given bullish […] Read more
U.S. livestock: CME live cattle end mostly firm
Chicago | Reuters –– Most Chicago Mercantile Exchange live cattle futures closed firmer on Wednesday, after investors sold April futures and simultaneously bought deferred months. Investors held off buying April futures despite strong wholesale beef values and steady-to-better cash price expectations for this week. April live cattle closed 0.35 cent/lb. lower at 117.575 cents (all […] Read more
U.S. livestock: Funds, beef demand fuel CME live cattle rally
Chicago | Reuters — Chicago Mercantile Exchange live cattle futures finished sharply higher on Tuesday, driven by fund buying and brisk wholesale beef demand, said traders. They said deferred-month contracts’ discounts to this week’s expected cash prices provided additional market support. February live cattle, which expired at noon CT, closed 1.225 cents/lb. higher at 126.6 […] Read more
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