The “one-week wonder” from seven to 10 days ago appears to have evaporated; a softer sentiment blanketed Western Canada this week, with feeder markets dropping $4 to $6 on average. A significant slide in live cattle futures, along with softer cash prices, caused feedlots to move into a risk-averse mentality. Heavier replacements took the brunt […] Read more
Klassen: Feeder cattle trade lower
U.S. livestock: Hog futures jump on fund buying, USDA report
Chicago | Reuters — Chicago Mercantile Exchange lean hog futures closed higher on Monday, driven by short-covering and fund buying after contracts broke through technical resistance levels, traders said. They said last Friday’s U.S. Department of Agriculture quarterly hog report stirred additional deferred-month buying. The survey showed modest U.S. herd growth during the December-February quarter […] Read more
U.S. livestock: CME live cattle snap five-day losing streak
Chicago | Reuters — Chicago Mercantile Exchange live cattle futures on Thursday settled higher for the first time in six sessions, helped by short-covering before the Easter holiday weekend, traders said. April live cattle ended 0.4 cent/lb. higher at 135.85, and June finished up 0.275 cent at 125.375 (all figures US$). The April contract led […] Read more
U.S. livestock: Lower cash price outlook sends CME live cattle lower
Chicago | Reuters — Chicago Mercantile Exchange live cattle losses lingered into a fifth straight session on Wednesday, led by chart-related selling and anticipation of weaker cash prices by Friday, traders said. April live cattle ended 0.975 cent/lb. lower at 135.45, and June finished 1.05 cents lower at 125.1 (all figures US$). Both contracts settled […] Read more
U.S. livestock: CME live cattle slump fourth straight day
Chicago | Reuters — Chicago Mercantile Exchange live cattle settled in bearish territory for a fourth straight session, on leftover selling and fund liquidation after contracts dropped below technical support levels, traders said. April live cattle ended 1.925 cents/lb lower at 136.425, and June finished 1.7 cents lower at 126.15 (all figures US$). Both contracts […] Read more
Klassen: Feeder cattle mixed across the Prairies
Market sentiment can be extremely variable and this week, we saw a large divergence in the price structure across the Prairies. Alberta feeder cattle prices were generally $3 to $6 higher and in some cases as much as $10 above week-ago levels. Buying interest appeared to fade moving east, with Manitoba markets dropping $4-$8 from […] Read more
U.S. livestock: CME hogs see biggest one-day loss in three months
Chicago | Reuters — Chicago Mercantile Exchange lean hog futures on Monday notched their biggest daily loss since last December, hit by technical selling and lower cash price expectations, traders said. April closed 2.1 cents/lb. lower at 69.35 cents, after drifting below the 40-day moving average of 70.31 cents (all figures US$). May ended 2.1 […] Read more
U.S. livestock: CME live cattle slump before USDA report
Chicago | Reuters — Chicago Mercantile Exchange live cattle futures retreated on Friday ahead of the bulk of this week’s cash sales, later in the afternoon, and the government’s monthly Cattle on Feed report at 2 p.m. CT, traders said. April live cattle ended 1.325 cents/lb. lower at 139.825, and June closed 1.6 cents lower […] Read more
U.S. livestock: CME live cattle ease ahead of cash prices, USDA report
Chicago | Reuters — Chicago Mercantile Exchange live cattle futures closed lower on Thursday, weakened by profit-taking as investors wait for market-ready, or cash, cattle to change hands by Friday, traders said. Some traders also positioned themselves for Friday’s U.S. Department of Agriculture monthly Cattle on Feed report. April live cattle ended 0.4 cent/lb. lower […] Read more
U.S. livestock: CME live cattle end firm, but off recent peak
Chicago | Reuters — Chicago Mercantile Exchange live cattle futures finished moderately higher on Wednesday as the steep climb in wholesale beef values fueled expectations for strong cash prices by Friday, traders said. Futures hit a 4-1/2-month peak but pared gains on profit-taking and positioning ahead of the U.S. Department of Agriculture’s monthly Cattle on […] Read more