Chicago | Reuters — Profit-taking pushed down Chicago Mercantile Exchange cattle futures on Tuesday, while front-month lean hog futures tumbled to another contract low. Losses on Wall Street helped set a negative tone for the markets, as live cattle futures pulled back from contract highs reached on Monday, traders said. “Cattle-wise, we got a bit […] Read more
U.S. livestock: CME cattle slide on profit-taking
April lean hogs set contract low
McDonald’s reported laying off hundreds of corporate employees
Layoffs don't include restaurant-level workers
New York | Reuters — The number of corporate employees McDonald’s Corp. plans to lay off this week will tally in the “hundreds,” a source familiar with the burger chain’s thinking said on Monday, as the company moves forward with a previously announced restructuring. The fast-food company is closing its offices “out of respect,” and […] Read more
U.S. livestock: CME live cattle down off highs on profit-taking
Hogs continue mixed on U.S. farrowing intentions
Chicago | Reuters — Chicago Mercantile Exchange live cattle futures slumped on Monday as profit-taking dragged prices down after the market set new contract highs, traders said. CME June live cattle ended down 0.9 cent at 161.225 cents/lb., after reaching a high of 162.525 cents/lb. (all figures US$). That exceeded Friday’s high of 162.175 cents/lb. […] Read more
U.S. livestock: CME hogs up in deferred months
USDA report fuels supply uncertainty; cattle up on cash strength
Chicago | Reuters — Chicago Mercantile Exchange lean hog futures rose in deferred contracts on Friday on U.S. producers’ plans for fewer sows to farrow, analysts said. Producers intend to have 2.93 million sows farrow, or give birth, from March to May, down one per cent from actual farrowings a year earlier, the U.S. Department […] Read more
Beef sector rips ‘unjust’ result as talks wrap on U.K. entry to CPTPP
Dairy sector calls for 'vigilant' enforcement on British imports
Negotiations have concluded for the United Kingdom to join Canada and its 10 partner nations in the Trans-Pacific Partnership (CPTPP) trade pact, with Canada’s beef cattle sector already calling the results “fundamentally unjust.” Federal Trade Minster Mary Ng on Thursday announced the conclusion of negotiations, making the U.K. the first accession applicant to reach that […] Read more
U.S. livestock: CME live cattle set contract high as cash prices jump
USDA sees hog farrowing intentions down on year
Chicago | Reuters — Chicago Mercantile Exchange live cattle futures strengthened on Thursday, with the front-month contract setting a new high, as cash prices climbed. Cash cattle trades of around $170-$171/cwt in western Nebraska and around $172/cwt in northwest Iowa ignited the rally in futures, analysts said (all figures US$). Cash prices were up about […] Read more
U.S. livestock: CME live cattle hit three-week peak on tightening U.S. supply
Weak cash prices drag on hog futures
Chicago | Reuters — Chicago Mercantile Exchange live cattle futures marched to a three-week high on Wednesday on expectations for tighter U.S. supplies, analysts said. Feeder cattle futures also advanced, while lean hogs softened. Technical buying helped support live cattle, analysts said, after a drop near eight-week lows last week was seen as overdone. The […] Read more
U.S. livestock: CME live cattle futures top two-week highs
Chicago lean hog futures ease
Chicago | Reuters — Chicago Mercantile Exchange live cattle futures topped another two-week high on Tuesday before finishing slightly firmer, while lean hog futures ended lower. Technical buying helped support gains in cattle, as the market has rebounded after nearing a two-month low last week, brokers said. A smaller U.S. cattle herd is also supportive […] Read more
Japan lifts last of BSE-era restrictions off Canadian beef
Canadian processed beef regains access to Japan
The last of Japan’s import restrictions on Canadian beef and beef products stemming from the BSE crisis has been lifted, allowing access for Canadian further-processed beef. Canada’s federal agriculture department announced Monday that Japan has reopened to imports of “processed” Canadian beef — just days ahead of a significant reduction in Japan’s tariffs on imports […] Read more
U.S. livestock: CME live cattle exceed two-week highs in rebound
Lean hogs up off last week's lows
Chicago | Reuters — Chicago Mercantile Exchange live cattle futures closed stronger and touched their highest prices in more than two weeks on Monday as livestock markets recovered from recent losses, analysts said. The Dow and S+P 500 also ended higher, after turmoil in the banking sector recently weighed on equity and commodity markets. Cattle […] Read more