Sao Paulo | Reuters — Brazil’s JBS SA, the world’s largest meat processor, posted better than expected second-quarter profits on Wednesday, helped by a sharp increase in revenues from its pork business in the U.S., said the company. São Paulo-based JBS earned 1.657 billion reais (C$650 million) in net income last quarter, compared with 252 […] Read more
JBS quarterly profits beat expectations
Olymel to pool Quebec hog processing partnerships
A pair of hog packing and processing plants in Quebec’s Mauricie region are set to join forces through their common business partner for a major expansion. Olymel, the meat packing and processing arm of Quebec’s Coop Federee, announced Tuesday it has sealed a partnership deal with livestock producer and processor Groupe Robitaille. That deal, first […] Read more
Olymel to consolidate ham work next fall
The meat packing arm of Quebec’s La Coop federee plans to shut down major ham lines at one of its further-processing plants in the province next year, cutting up to 340 jobs. Olymel said Friday it will halt ham deboning at its St-Hyacinthe plant in September 2017, eliminating 340 positions. Ham deboning work, until now […] Read more
Canada’s Maple Leaf Foods profit beats estimates
Canadian meat processor Maple Leaf Foods reported a quarterly profit that squeezed past estimates as lower operating costs and increased pricing more than offset a fall in volumes in its meat products business. The company, whose brands include Schneiders and namesake Maple Leaf, recently completed a program started in 2010 to boost earnings by shutting […] Read more
U.S. livestock: CME hogs settle mostly weak on month-end positioning
Chicago / Reuters – Most Chicago Mercantile Exchange lean hog contracts closed weaker on Friday, after a volatile session highlighted by investors squaring positions on the final trading day of the month, trader said. August hogs finished up 0.125 cent per lb to 68.975 cents. October ended 0.150 cent per lb lower at 59.050 cents and December down 0.075 cent to […] Read more
U.S. livestock: Slumping cash prices sink CME hogs to four-month low
Chicago / Reuters – Chicago Mercantile Exchange lean hogs on Thursday settled near their lowest since late-March 2013, dragged down by weaker cash prices before some plants shut down on Monday for an annual industry floater holiday, traders said. One packer was closed on Thursday, and possibly on Friday, for repairs, which limited its need for supplies, a Midwest hog merchant […] Read more
U.S. livestock: CME hog futures biggest one-day loss in seven months
Chicago / Reuters – Chicago Mercantile Exchange lean hogs on Wednesday slumped nearly four per cent, their biggest daily decline since mid-December 2015, pressured by day’s steep wholesale pork price drop and further cash price weakness, traders said. August hogs finished 2.925 cents per lb lower at 71.675 cents. October ended 2.575 cents per lb lower at 61.050 cents. Cash hog prices […] Read more
U.S. livestock: Beef price bounce extends CME live cattle futures gains
Chicago / Reuters – Chicago Mercantile Exchange live cattle futures gained for a third straight session on Tuesday, fueled by technical buying and the day’s wholesale beef price turnaround, said traders. August live cattle closed 0.925 cents per lb higher at 113.875 cents, and above the 40-day moving average of 113.30 cents. October settled 1.500 cents higher at 112.575 cents and over […] Read more
U.S. livestock: CME live cattle futures surge by 3-cent/lb price limit
Chicago / Reuters – Chicago Mercantile Exchange live cattle futures settled up by their 3-cents-per-lb daily price limit on Monday, driven by fund buying and Friday’s mildly bullish government monthly cattle report, said traders. August and October live cattle closed at 112.950 cents and 111.075 cents per lb, respectively. Live cattle’s trading limit will be expanded […] Read more
U.S. livestock: Live cattle futures rally before USDA report
Chicago / Reuters – Chicago Mercantile Exchange live cattle futures closed higher on Friday after short-covering and bargain hunting snapped a three-day losing streak, traders said. August live cattle ended 2.425 cents per lb higher at 109.950 cents, and October closed 2.375 cents higher at 108.075 cents. Investors were awaiting the U.S. Department of Agriculture’s monthly Cattle-On-Feed report on Friday at 2 […] Read more
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