Chicago | Reuters — For the first time in five sessions Chicago Mercantile Exchange live cattle futures landed in positive territory on Tuesday, helped by the turnaround in wholesale beef values, traders said. August closed 0.55 cent/lb. higher at 147.15 cents, and October up 0.6 cent to 150.325 cents (all figures US$). Tuesday morning’s wholesale […] Read more
U.S. livestock: Beef price upswing snaps skid for live cattle
Beef prices continue to be bullish
Reading Time: < 1 minute Both beef and pork experienced significant gains in early 2014, but while pork prices have more or less levelled off, beef continues to increase monthly. Beef prices are expected to remain high because of tight supplies but “the big question is whether consumer demand will hold,” said provincial livestock market analyst Jason Wood. The Canadian consumer […] Read more
Klassen: Feeder market consolidates
Western Canadian feeder cattle markets continue to consolidate at the higher levels. Most auction markets were closed due to the Canada Day holiday, so all eyes were on focused south of the border for market sentiment. Average U.S. feeder prices were steady to $3 lower at major sales in Oklahoma and Missouri as the U.S. […] Read more
U.S. livestock: Hog supplies, post-holiday slump cool CME futures
Chicago | Reuters — U.S. livestock futures remained mostly sluggish on Monday at the Chicago Mercantile Exchange as traders wrestled with strengthening grain prices, tight supplies of market-ready cattle, and visions of a glut of hogs straining U.S. slaughterhouse capacity in the coming months. Livestock futures trading was relatively light on an historic day at […] Read more
U.S. livestock: Profit-taking undercuts CME live cattle
Chicago | Reuters — Chicago Mercantile Exchange live cattle futures snapped a three-day win streak on Thursday, pressured by profit-taking and a wholesale beef price downturn, traders said. June closed down 0.575 cent per pound, to 155.225 cents, and August 0.6 cent lower at 152.925 cents (all figures US$). Thursday morning’s wholesale choice beef (cutout) […] Read more
U.S. livestock: CME live cattle climb as beef prices jump
Chicago | Reuters — Chicago Mercantile Exchange live cattle futures closed higher on Tuesday, fuelled by short-covering after the sharp rebound in wholesale beef prices, traders said. June closed up 1.6 cents per pound, to 155.075 cents, and August 1.275 cents higher at 152.875 cents (all figures US$). Tuesday morning’s wholesale choice beef price surged […] Read more
Klassen: Feeder market dealing with limited precipitation
Western Canadian feeder cattle prices traded $3 to $5 higher on average over the past week. Wholesale beef prices have come off their highs and appear to be weakening in line with the seasonal tendency. However, Alberta packers were buying fed cattle in the range of $201-$203, basically in line with the market seven days […] Read more
U.S. livestock: Speculative buying rallies CME live cattle
Chicago | Reuters — Chicago Mercantile Exchange live cattle finished higher on Monday, buoyed by speculation that cash and wholesale beef prices may bottom out soon, traders said. June closed up 0.65 cent per pound to 153.475 cents, and August 1.025 cent higher at 151.6 cents (all figures US$). Monday morning’s wholesale choice beef (cutout) […] Read more
U.S. livestock: CME live cattle slump with beef prices, but off lows
Chicago | Reuters — Chicago Mercantile Exchange live cattle ended lower on Friday, pressured by profit-taking and a wholesale beef price reversal after Thursday’s spike, traders said. Futures remained undervalued based on this week’s cash price expectations, which stirred late-session buying that freed contracts from session lows. June closed down 0.4 cent per pound, to […] Read more
U.S. livestock: CME live cattle jump on beef price turnaround
Chicago | Reuters — Chicago Mercantile Exchange live cattle futures gained on Thursday on short-covering after wholesale beef values turned higher, traders said. June closed up 0.725 cent per pound, to 153.225 cents, and August 0.825 cent higher at 151.45 cents (all figures US$). Thursday morning’s choice wholesale beef price, cutout, rose $1.23 per hundredweight […] Read more
Cyber-Savvy Farmer
