Chicago | Reuters — U.S. hog futures shook off early losses to end mostly higher on Thursday as fears about rising acrimony between Washington and Beijing gave way to hopes that negotiators may be able to hammer out a deal to end the U.S.-China trade war. U.S. President Donald Trump said it was possible the […] Read more
U.S. livestock: Hog futures recover on hopes for China trade deal
U.S. livestock: Live cattle set eight-month low on weak cash prices
Chicago | Reuters — U.S. live cattle futures dropped to an eight-month low on Wednesday on weakness in the cash market and as boxed beef prices declined, traders said. Lean hog futures also came under pressure. Weak cash prices for cattle set a bearish tone for futures that will likely linger for the rest of […] Read more
U.S. livestock: Hog futures extend setback on trade tensions
Chicago | Reuters — U.S. lean hog futures touched their lowest prices in about two months on Tuesday on concerns over elevated trade tensions between Washington and Beijing. Traders are worried that a resolution to the U.S.-China trade war may be farther off than previously expected, after U.S. President Donald Trump’s surprise statement on Sunday […] Read more
Klassen: Feeder cattle rally loses steam
Compared to last week, western Canadian yearlings traded $2-$5 lower while calves were solidly $3 to as much as $8 lower. There’s a limit how far the cash trade can divorce from the futures market. November feeder cattle futures have dropped $12 from contract highs and there is no sign that this slide is over; […] Read more
U.S. livestock: CME hog futures limit down on China trade fight, swine fever fears
Chicago | Reuters — U.S. lean hog futures plunged by the daily trading limit on Monday, and cattle was lower, amid worries about the spread of African swine fever and fears that President Donald Trump will follow through with threats to impose additional tariffs on China. The tariff threat, which sparked broad selling on equity […] Read more
U.S. livestock: CME live cattle fall again on lower beef, cash prices
Chicago | Reuters –– U.S. live cattle futures fell on Friday, with the actively traded Chicago Mercantile Exchange (CME) June contract down for a 10th straight session on sinking beef and cash cattle prices, and long liquidation by managed commodity funds. Cattle futures have been susceptible to steep drops as commodity funds had recently built […] Read more
U.S. livestock: CME lean hogs mixed, nearbys up on export hopes
Chicago | Reuters — U.S. lean hog futures ended mixed on Thursday, with nearby futures contracts building on strong gains in the previous session on expectations that China would soon sharply accelerate imports of U.S. pork. Deferred contracts were pressed down by active spread trading that featured buying of June futures and selling of October […] Read more
U.S. livestock: CME lean hogs limit up on technical buying, export hopes
Chicago | Reuters — U.S. lean hog futures rallied sharply on Wednesday with several contracts closing up the daily trading limit on technical buying and speculation that Chinese demand for U.S. pork is poised to grow. The U.S. Department of Agriculture (USDA) is due to release weekly export sales data early on Thursday and traders […] Read more
U.S. livestock: CME live cattle sink on fund liquidation, technical selling
Chicago | Reuters — U.S. live cattle futures fell on Tuesday, with the actively traded June contract down for a seventh straight session, as fund long liquidation and technical selling pressured the market. Before the latest selloff in cattle began, commodity funds had built a record large net long position, and open interest in the […] Read more
Klassen: Cash feeder market shrugs off lower futures
This past week, Alberta packers were buying fed cattle in the range of $270-$274 on a dressed basis, up $2-$4 from seven days earlier. Strength in the fed cattle market spilt over into the feeder complex as feeding margins moved into positive territory for the first time this year. Compared to last week, western Canadian […] Read more
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