Chicago | Reuters –– Chicago Mercantile Exchange hog futures on Wednesday gained for a third day in a row, supported by short-covering ahead of the U.S. Labour Day holiday, traders said. Fund buying developed after some CME hog contracts broke through moving average resistance levels. October closed 0.825 cent per pound higher at 95.925 cents […] Read more
U.S. livestock: CME hogs extend gains on short-covering
Beef, pork prices down from summer highs
CNS Canada –– As the end of summer draws near, so does the end of the barbecue season, which is expected to mean less demand for beef and pork products after a summer of significantly higher prices. “I think summer 2014 is going to go down as extraordinary from a (beef) price perspective clear across […] Read more
U.S. livestock: Short-covering sends CME hog futures higher
Chicago | Reuters –– Chicago Mercantile Exchange hog futures closed higher on Tuesday, driven by short-covering as some investors prepare for an early start of the Labour Day holiday weekend, traders said. Speculators bought CME hogs in the belief that the two-week slump in prices for slaughter-ready, or cash, hogs may be about to end. […] Read more
U.S. livestock: CME live, feeder cattle extend gains after USDA report
Chicago | Reuters –– Chicago Mercantile Exchange live and feeder cattle contracts closed higher for a third straight session on Monday, partly driven by Friday’s U.S. Department of Agriculture Cattle-On-Feed report, traders said. Initially, analysts considered the report mildly bearish because more cattle were placed in feedlots last month than forecasted. Some analysts later said […] Read more
High-priced calves drop U.S. July cattle placements by 7 pct
Reuters — The number of cattle placed in U.S. feedlots in July dropped 7.0 per cent from a year ago as pricey calves deterred some feedlots from purchasing them for fattening, a government report showed on Friday. The U.S. Department of Agriculture report showed July placements at 1.560 million head, down 7.0 per cent from […] Read more
U.S. livestock: CME hogs turn higher on short-covering
Chicago | Reuters — Chicago Mercantile Exchange hog contracts closed higher on Thursday on short-covering and futures’ discount to CME’s hog index at US109.25 cents. October and December ended 1.125 cents higher at 93.625 and 87.55 cents per pound, respectively (all figures US$). CME hogs had a relative strength index (RSI) of 15. A RSI […] Read more
U.S. livestock: CME hogs slide with cash, pork prices
Chicago | Reuters — Chicago Mercantile Exchange hog futures on Wednesday posted losses for a second straight day, pressured by eroding cash hog and wholesale prices. October ended down 2.325 cents at 92.5 cents per pound, and December at 86.425 cents, 2.2 lower (all figures US$). Wednesday afternoon’s average price of hogs in Iowa/Minnesota slumped […] Read more
U.S. livestock: Profit-taking undercuts CME live cattle
Chicago | Reuters — Chicago Mercantile Exchange live cattle futures closed lower on Tuesday, weighed down by profit-taking that pared morning gains and snapped the market’s three-day winning streak. August live cattle ended 1.1 cents per pound lower at 150.5, and October down 1.325 cents at 147.225 cents (all figures US$). CME live cattle spiked […] Read more
Alberta Pork optimistic despite Russia’s tit-for-tat sanctions
Numerous agricultural products are being shut out of Russia, but pork is most affected
Reading Time: 3 minutes Russia’s ban on Canadian pork will have some impact, but the executive director of Alberta Pork says the hope is that it will be more of “a big hiccup” than a severe blow. “We had the same problem with our ractopamine last year, where almost half of the pork that was shipped from Canada to […] Read more
Maple Leaf names ‘animal wellness’ chief
Canadian processing giant Maple Leaf Foods has gone to Ontario’s pork sector for the person to spearhead the setup of its “comprehensive animal wellness program.” The Toronto meat and processing company on Monday named Dr. Stephanie Cottee, a former provincial programs advisor with the Ontario provincial pork board, as its new “leader, animal wellness.” While at […] Read more
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