South Korea has suspended some U.S. beef imports after detecting the cattle feed additive zilpaterol in meat supplied by a unit of JBS USA, raising concerns that the controversial animal growth enhancer may still be in the supply chain weeks after its manufacturer Merck halted sales of Zilmax, the top-selling zilpaterol-based drug. The South Korean […] Read more
South Korea suspends some U.S. beef imports over feed additive
U.S. hog futures fall as supplies rise
Chicago Mercantile Exchange hog futures dropped sharply on Wednesday in reaction to a seasonal bump in supplies that could pressure cash hog and wholesale pork values. Armed with profitable margins and ample supplies, packers plan to process roughly 140,000 hogs on Saturday, analysts and hog buyers said. Wednesday’s hog prices in direct and terminal markets […] Read more
CME to monitor alternate hog pricing against manipulation
CME Group, the largest U.S. futures market operator, said Tuesday it will step up surveillance of its lean hog futures next week to prevent price manipulation under a pricing formula the exchange adopted to cope with the shut down of the U.S. government. The closer look from the exchange operator’s market regulation department will guard […] Read more
Cheaper corn drives CME feeder cattle to all-time high
Chicago Mercantile Exchange feeder cattle futures on Tuesday hit the highest level ever at US164.95 cents per pound, driven by cheaper feed that could encourage feedlots to buy young cattle. Chicago Board of Trade corn for December delivery settled down 7-1/2 cents at $4.41-3/4 a bushel after reports of better-than-expected yields from the ongoing harvest […] Read more
Chicago live cattle futures slip on delivery worries
Chicago Mercantile Exchange live cattle futures posted modest losses on Monday as worries about potential deliveries weighed, traders said. Monday is the first notice day for live cattle deliveries against October futures that will expire on Oct. 31. The CME recently said those deliveries will not be affected by the partial U.S. government shutdown. “October […] Read more
Fund buying extends Chicago hog futures’ gains
Chicago Mercantile Exchange hogs on Friday gained for a third day in a row as fund buying stirred short-covering, traders and analysts said. Spot October hogs’ discount to the most recent exchange hog index on Tuesday at 96.38 cents per pound motivated buyers (all figures US$). And buy-stops were triggered after nearby CME hog contracts […] Read more
Fund buying lifts Chicago hog futures
Chicago Mercantile Exchange hog futures rose for a second straight day on Thursday on fund buying that sparked short-covering, traders and analysts said. Spot-October’s discount to CME’s most recent hog index of 96.38 cents underpinned the contract. The CME stopped updating its cattle and hog indexes on Tuesday because the U.S. government is shut down. […] Read more
Active spread trading lifts Chicago hog futures
Chicago Mercantile Exchange hogs settled moderately higher on Wednesday, supported by the market’s discount to cash and by traders who periodically bought deferred months and sold October futures. CME spot October hogs’ discount to the most recent exchange hog index on Tuesday at 96.38 cents per pound supported that contract. Spot October finished at 90.95 […] Read more
Bearish USDA report sinks U.S. hog futures
Chicago Mercantile Exchange hog futures finished lower on Monday, led by last Friday’s bearish U.S. government quarterly hogs report, traders and analysts said. Friday’s U.S. Department of Agriculture report showed the U.S. hog herd unexpectedly held steady from the June-August quarter versus a year earlier despite the spread of the porcine epidemic diarrhea virus (PEDv), […] Read more
U.S. hog futures rise ahead of USDA report
Chicago Mercantile Exchange hog futures on Friday settled higher as investors tweaked positions before the U.S. Department of Agriculture’s quarterly hog report, to be issued Friday at 2 p.m. CT. Analysts expect the report to show fewer hogs were on U.S. farms in the last quarter due in part to the spread of the deadly […] Read more
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