Chicago | Reuters — Chicago Mercantile Exchange live cattle rose sharply for a second straight day on Thursday, driven by short covering and fund buying, said traders. Investors, for now, are focused more on what packers will pay for cattle in the near term than a potential trade war with China, a trader said. On […] Read more
U.S. livestock: Fund buying sends CME live cattle higher
U.S. meat groups fear for market growth with China beef tariff hike
Chicago | Reuters — China’s proposal on Wednesday for tariffs on U.S. beef confirmed the worst-case scenario for the U.S. cattle industry, trade groups said Wednesday, even as they remained hopeful the dispute could be resolved quickly. China listed U.S. goods from soybeans to beef that could potentially incur a 25 per cent import tariff […] Read more
U.S. livestock: CME live cattle down, but off seven-week lows
Chicago | Reuters — Chicago Mercantile Exchange live cattle slid to a seven-week bottom on Thursday, led by fund liquidation, traders said. Futures’ discount to this week’s slaughter-ready, or cash, cattle prices freed contracts from session lows, they said. April closed 1.2 cents/lb. at 121.775 cents (all figures US$). June finished 1.55 cents lower at […] Read more
Officials aim to forge ahead with TPP as Canada wavers
Tokyo | Reuters — As trade officials gather in Tokyo this week to try and forge ahead with a trade pact that U.S. President Donald Trump abandoned last year, the new 11-member club risks getting bogged down by resistance from Canada. The member countries of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), also […] Read more
U.S. livestock: CME live cattle futures sag
Chicago | Reuters — Chicago Mercantile Exchange cattle futures edged lower on Friday to snap a five-session climb, pressured by technical selling and uncertainty about cash price direction, given that cash cattle did not trade ahead of the closing bell, brokers said. However, after the futures market closed, fed cattle traded lightly in cash markets […] Read more
TPP seen critical for beef sales growth in Japan
Canadian beef producers could be out millions of dollars in new exports if Canada is shut out of the Trans-Pacific Partnership (TPP). Why is it important? Beef exports, especially from Ontario, have been growing significantly to Japan and elsewhere in Asia. Allowing other competitors such as Mexico and New Zealand better access to that market, […] Read more
U.S. livestock: CME live cattle slump, cash prices disappoint
Chicago | Reuters –– Chicago Mercantile Exchange live cattle on Thursday reversed some of their recent gains, pressured by profit-taking following this week’s initial cash prices that fell short of expectations, said traders. To avoid cattle deliveries, some investors sold the October contract either outright or simultaneously bought deferred months in a trading strategy known […] Read more
China represents opportunity for Canadian beef producers
Beef is increasingly on the menu for China’s growing middle class and the country can’t keep up with demand
Reading Time: 3 minutes The numbers are staggering — 854 million people in China are expected to be regular beef eaters by the year 2030. Despite their large land base, cattle numbers cannot keep up with the demand for beef that has been increasing by 15 per cent per year. What has happened? Where does the beef come from? […] Read more
U.S. finalizes talks to resume beef exports to China
Chicago | Reuters — Final details are in place to allow U.S. exporters to resume beef shipments to China, U.S. officials said on Monday, allowing companies to prepare for their first shipments in 14 years. After concluding talks with Beijing, the U.S. Department of Agriculture said U.S. producers must track the birthplace of cattle born […] Read more
U.S., China accelerate beef talks
Chicago | Reuters — Talks on restarting U.S. beef exports to China are moving fast and final details should be in place by early June, the U.S. Department of Agriculture said on Friday, allowing U.S. farmers to vie for business that has been lost by rival Brazil. As part of a trade deal, U.S. ranchers […] Read more
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